Opportunities in the switchgear market have evolved through a number of stages. Lucintel has found the future of this market to be promising; the Switchgear market is expected to reach $116.7 billion by 2025 with a CAGR of 4%. In this market, low voltage is the largest segment by voltage type, whereas utilities are largest by end use industry. Players can benefit from the available opportunities like growing population, economic expansion, urbanization, industrialization, and rural electrification projects, particularly.
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ABB, General Electric, Schneider Electric, Mitsubishi, Siemens AG, Eaton, Hitachi, and CG Power and Industrial Solutions are some of the companies profiled in this report.
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