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Middle East & Africa Switchgear Market Trends

Report ID: GMI8600
Published Date: Mar 2024
Report Format: PDF

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Middle East & Africa Switchgear Market Trends

The Middle East & Africa switchgear industry is witnessing significant growth driven by urbanization, industrialization, and infrastructure development projects. Rising electricity demand, coupled with government initiatives to upgrade power infrastructure and integrate renewable energy sources, is driving market expansion. Burgeoning investments in smart grids, digitalization, and energy efficiency solutions are also shaping market trends. Additionally, a focus on grid modernization, resilience, and reliability is driving the adoption of advanced switchgear technologies to meet evolving energy requirements in the region.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

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.

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.

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.

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.