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Europe Medium Voltage Switchgear Market Trends

Report ID: GMI7335
Published Date: Nov 2023
Report Format: PDF

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Europe Medium Voltage Switchgear Market Trends

The Europe medium voltage switchgear industry is witnessing several prominent trends. The growing emphasis on renewable energy integration and the transition to more sustainable power sources are driving increased demand for medium voltage switchgear, as they are crucial components in efficiently managing and distributing electricity from renewable assets. Additionally, the shift towards digitalization and smart grid technologies is transforming the market, with the integration of IoT and advanced monitoring systems enhancing operational efficiency. Energy efficiency and environmental concerns are prompting the development of eco-friendly and compact switchgear solutions.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of medium voltage switchgear in Europe was worth over USD 12 billion in 2022 and is anticipated to surpass USD 24 billion in 2032.

Vacuum insulation segment is expected to witness more than 3.5% CAGR from 2023 to 2032, due to its distinct advantages over traditional insulation technologies and its well-established reputation for reliability.

Germany medium voltage switchgear market was valued over USD 1.6 billion in 2022 and is anticipated to reach over USD 2.8 billion by 2032, owing to the rapid urbanization and industrial development which are increasing the demand for reliable electrical distribution systems.

ABB, Siemens, General Electric, Mitsubishi Electric Corporation, Schneider Electric, Ormazabal, Bharat Heavy Electricals Limited, CG Power & Industrial Solutions Ltd., CHINT Group, Eaton, HYOSUNG HEAVY INDUSTRIES, Lucy Group Ltd., HD Hyundai Electric Co., Ltd., Powell Industries, and Toshiba Infrastructure Systems & Solutions Corporation.