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Europe Commercial Switchgear Market Trends

  • Report ID: GMI11051
  • Published Date: Aug 2024
  • Report Format: PDF

Europe Commercial Switchgear Market Trends

Modular and compact switchgear designs are becoming more popular in Europe. These solutions offer flexibility, ease of installation, and scalability, making them suitable for a wide range of commercial applications. Modular designs allow for easy expansion and upgrades, which is particularly beneficial in dynamic commercial environments where space is often limited. There is a strong push towards energy efficiency across Europe, driven by stringent regulations and sustainability goals. Commercial switchgear is increasingly being integrated with smart grid technologies and energy management systems to optimize energy use and reduce operational costs. This trend is fuelled by the European Union's commitment to reducing carbon emissions and enhancing energy efficiency as part of the European Green Deal.
 

The market is witnessing significant growth in smart switchgear solutions. These advanced systems offer real-time monitoring, predictive maintenance, and enhanced control capabilities. Smart switchgear is increasingly being adopted in commercial buildings to improve operational efficiency and reliability. The integration of IoT (Internet of Things) and digital communication technologies is enabling more sophisticated management and automation of electrical systems. The expansion of data centres and commercial real estate in Europe is driving demand for advanced switchgear solutions. As data centres require robust and reliable power distribution systems, there is an increased focus on high-performance switchgear that can support the growing energy demands of these facilities.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of Europe commercial switchgear was worth over USD 3.3 billion in 2023 and is anticipated to witness 8% CAGR from 2024 to 2032, driven by the strong push towards energy efficiency and sustainability.

The low voltage segment in the Europe commercial switchgear market is expected to exceed USD 3.4 billion by 2032, owing to the growing demand to provide enhanced control, monitoring, and efficiency.

Germany commercial switchgear industry size is anticipated to surpass USD 1.4 billion by 2032, led by strong industrial and commercial sectors.

ABB, Chint Group, Eaton Corporation, Fuji Electric Co., Ltd., General Electric, Hitachi Ltd., Hyosung Corporation, Hyundai Electric & Energy Systems Co., Ltd., and Mitsubishi Electric Corporation among others.

Europe Commercial Switchgear Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 14
  • Tables & Figures: 9
  • Countries covered: 7
  • Pages: 100
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