- Increasing world demand for electricity is generating demand for equipment and will continue through the decade, GlobalData reports.
- GlobalData concludes that about a fifth of the worldwide demand for high-voltage switchgear come from China for new transmission capacity.
- The U.S. is second at 6.3% of the worldwide market, driven by investments in infrastructure upgrades.
From the article:
Demands to incorporate renewable power sources into the transmission network will drive the switchgear industry, while efforts to reduce power transmission losses and connect the increasingly electrified world continue, says a new report by technology experts GlobalData.