Switchgear Market Witnesses Surge in Industrial Automation
According to a recent report by Grand View Research, Inc., the global switchgear market is projected to reach USD 160.07 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. The industrial and commercial sectors in emerging economies have seen substantial growth in recent years, fueled by ongoing urbanization—a hallmark of the modern era. As people migrate from rural areas to cities in search of improved living conditions and economic opportunities, urban centers have expanded rapidly. This migration has led to a surge in construction and infrastructure developments, including housing and transportation networks, thereby accelerating industrial and commercial activities. The growth of these sectors relies heavily on the presence of reliable and efficient electrical distribution systems. A steady and uninterrupted electricity supply is essential for industrial facilities, commercial buildings, data centers, and infrastructure pr...