Switchgear Market Worth $136.71 Billion by 2019 - Largest markets Asia Pacific and util... - 0 views
Driven by rapid economic growth and electrification in China, India, and parts of the Middle East and Africa, the high-voltage transmission system (HVTS) market is expanding globally. At the same time, the HVTS vendor landscape is changing as focus shifts to rebuilding and extending transmission infrastructure to utility-scale wind and solar projects in remote regions.
The greatest growth of spending for utilities is expected in sub-Saharan Africa where an annual rate of 10.4% between now and 2025 is forecasted.
Spending for electricity production and distribution is expected to rise from $15 billion in 2012 to $55 billion, while expenditures for improvements in water and sanitation services are forecasted to increase from $3.3 billion in 2012 to about $10 billion by 2025.
A substantial increase in spending in the basic manufacturing sector is expected in sub-Saharan Africa. Annual spending in the chemical, metals and fuels sector is forecasted to increase across the seven major African economies to $16 billion, up from about $6 billion in 2012.