#market report

The global paralleling switchgear market is projected to reach $2.8 B by 2032, growing at a CAGR of 7.5 % during the forecast period.

The laminated busbar market is experiencing impressive growth and is expected to reach an estimated $1325.05 B by 2032.

The global air-insulated switchgear market is estimated to reach over $12.26 B by 2031, exhibiting a CAGR of 5.20 % during the forecast period.

The switchgear market, valued at $161.23 B in 2024, is projected to reach $258.9 B by 2032, growing at a 7 % CAGR from 2025 to 2032.

The substation market is expected to grow at a CAGR of 4.4 % during the forecast period of 2025 to 2034.

Mobile substations, which restore power quickly in emergencies, are rising in demand.