Utility-scale switchgear market to reach $ 31.45 B by 2033
The utility-scale switchgear market, valued at $18.38 B in 2024, is projected to reach $31.45 B by 2033, growing at a CAGR of 6.15 % during the forecast period 2025-2033.
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According to a report by Astute Analytica, the utility-scale switchgear market is projected to reach $31.45 B by 2033, growing at a CAGR of 6.15 % during the forecast period 2025-2033.
This growth is driven by expanding renewable energy infrastructure, digitization of power grids, and increasing demand for high-capacity protective equipment.
With the rapid expansion of renewable energy plants, large wind farms, and utility-scale solar parks, switchgear must withstand extreme environmental conditions and substantial voltage fluctuations. As renewable capacity expands, utility providers are investing heavily in resilient switchgear systems to ensure grid reliability and operational efficiency.
Source: Open PR
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