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DC Vacuum Insulated Switchgear Market Trends

Report ID: GMI8589
Published Date: Mar 2024
Report Format: PDF

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DC Vacuum Insulated Switchgear Market Trends

DC vacuum insulated switchgear industry is witnessing substantial rise in demand owing to the growing demand for renewable energy integration and electrification projects, which in turn is producing a surge in the adoption of DC transmission and distribution systems. Technological advancements are enhancing the efficiency, reliability, and compactness of DC switchgear solutions, facilitating their deployment in various applications including renewable energy projects, data centers, and electric vehicle charging infrastructure. Moreover, increasing investments across electricity grids across the globe will further drive the product adoption.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market valuation of DC vacuum insulated switchgear was reached USD 10.2 billion in 2023 and is anticipated to grow at 8% CAGR through 2032, backed by the increasing demand for renewable energy sources like solar and wind power.

The low voltage DC vacuum insulated switchgear market size surpass USD 20.5 billion by 2032, propelled by the increasing adoption of DC systems in various industries such as renewable energy, transportation, and data centers.

Asia Pacific DC vacuum insulated switchgear market is anticipated to reach over USD 7.8 billion by 2032, attributed to rapid industrialization, urbanization, and infrastructural development across emerging economies.

ABB, Dongdian, DOHO Electric, Electro-Mechanical, LLC, Eaton, General Electric, Hitachi, Ltd., Mitsubishi Electric Power Products, Inc., Orecco, Rotary Switchgear & Testing Pte. Ltd, Siemens, Schneider Electric, Toshiba International Corporation, and WEG.