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The demand for electricity generation are expected to drive innovation in switchgear and switchboard apparatus manufacturing, thus driving the market during the forecast period.

The global switchgear and switchboard apparatus market is expected to grow from $166.34 billion in 2022 to $178.08 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The global switchgear and switchboard apparatus market size is expected to grow to $225.17 billion in 2027 at a CAGR of 6.0%.

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Global Switchgear And Switchboard Apparatus Market Segments Include:

• By Product Type: Switchboard, Switchgear
• By End-User: Residential, Commercial, Industrial
• By Application: Industry, Manufacture, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global switchgear and switchboard apparatus market in 2021.

Major Market Players in the switchgear and switchboard apparatus market include ABB, Schneider Electric, General Electric, Siemens, Eaton Corporation, Mitsubishi, Powell, Hyosung.

The last few years witnessed a rising demand for the installation of electric substations to restore normal power supply as fast as possible in case of emergencies. The installation of mobile substations enables the restoration of electricity under outdoor conditions or in unforeseen circumstances and is functionally designed to provide temporary power supplies as soon as possible. Also, these mobile substations incorporate a generator, transformer, metal-clad switchgear, outdoor load break switches and breakers, which are used for network extensions, and temporary switching stations. For instance, Siemens delivered two mobile substations for the national grid SA, and Aktif group delivered 10 mobile substations to the ministry of electricity Iraq. Therefore, increasing the adoption of mobile substations is one of the latest trends that will positively impact the switchgear and switchboard apparatus market.

The Switchgear And Switchboard Apparatus Global Market Report 2023  provides a switchgear and switchboard apparatus market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The switchgear and switchboard apparatus market forecast analyzes switchgear and switchboard apparatus market size, switchgear and switchboard apparatus market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Switchgear refers to a collection of switching devices that are used for controlling, protecting, and switching electrical circuits and equipment. Switchboards refer to the power distribution process system which consists of panels with different switches and indicators to direct and control electricity for functioning in circuits.

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