Lucintel Forecasts Switchgear Market to Reach $229.4 billion by 2030
According to the recent study the Switchgear Market is projected to reach an estimated $229.4 billion by 2030 from $125.6 billion in 2023, at a CAGR of 7.5% from 2024 to 2030. Growth in this market is primarily driven by increasing demand for electricity, growing implementation of smart grid technology, and continuing investment in upgrading transm