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Middle East & Africa Switchgear Market Size
Middle East & Africa Switchgear Market was valued at USD 20.6 billion in 2023 and is anticipated to grow at a CAGR of 8.7% from 2024 to 2032, driven by increasing investments in the power sector, growing urbanization and the expansion of the industrial sector.
The market offers significant opportunities for manufacturers and suppliers, especially in countries like the UAE and Saudi Arabia, where major investments in power infrastructure are planned. For instance, in August 2023, the UAE's Ministry of Energy and Infrastructure has announced plans to invest USD 653 million in electricity transmission and distribution projects, including the construction of new substations and the upgrade of existing ones which will drive the demand for switchgear in the country.
What is the size of Middle East & Africa switchgear market?
The market valuation of the Middle East & Africa switchgear was reached USD 20.6 billion in 2023 and is projected to grow at a CAGR of 8.7% through 2032, driven by increasing investments in the power sector, growing urbanization, and the expansion of the industrial sector.
Why is Saudi Arabia AC switchgear industry growing?
Saudi Arabia switchgear market revenue to cross USD 9.8 billion by 2032, on account of the rapid industrialization, urbanization, and population growth across the nation.
Why is the demand of AC switchgear increasing in Middle East & Africa?
AC switchgear market segment in MEA is projected to reach over USD 38 billion by 2032, driven by their efficiency, flexibility, and compatibility with existing infrastructure.
Which companies define the competitive landscape of Middle East & Africa switchgear industry?
ABB, Bharat Heavy Electricals Limited (BHEL), CHINT Group, Eaton, Fuji Electric Co., Ltd., General Electric, Hitachi Ltd., HD HYUNDAI ELECTRIC CO., LTD., Hyosung Heavy Industries, Lucy Group Ltd., Mitsubishi Electric Corporation, Ormazabal, Powell Industries, and Regal Rexnord Corporation.