Global switchgear market could grow
The global switchgear market could grow by as much as 6.5 per cent each year until 2026, according to a recent report from Global Market Insights.
The research covered 38 territories, including the UK, United States and Germany, as well as 19 companies. It concluded that the market was worth $90 billion (£69 billion) in 2019, potentially rising to $140 billion (£107 billion) in 2026.
Growth drivers in the European market were identified as expansion of smart grid networks and refurbishment and retrofit of existing grid infrastructure.