SWITCHGEAR MARKET ANALYSIS

Regional Analysis

Global Switchgear Market: Regional Insights

North America is projected to exhibit substantial growth in the global switchgear market during the forecast period. This is owing to rise in investments in the end user industries such as chemical, oil and gas, and power generation, as the production of natural gas is increasing in the region. The presence of countries such as Canada and the U.S. with abundant oil reserves in the region is driving the market growth.  Moreover, growing use of advanced technologies to replace existing equipment by oil and gas companies is also expected to drive growth of the global switchgear market during the forecast period.

Furthermore, Asia Pacific is also projected to witness promising growth in the global switchgear market over the forecast period due to increase in demand for renewable energy sources leading rise in power generation capabilities in the region. Countries across this region are shifting towards revolutionized generation of energy for embracing cleaner, high-efficiency digital technologies. For instance, as per the International Energy Agency (IEA), by 2024, China will have 40% share in the global renewable capacity. Thus, the market is likely to witness robust growth across the region.

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa