The global compound annual growth rate (CAGR) of the global medium voltage (MV) switchgear market between 2021 and 2027 is projected to be 3.5 percent. The Asia Pacific market, dominated by China, is expected to have the greatest CAGR by 2027 because of growing investments in industry infrastructure. The development of renewable energies, investments in transmission and distribution infrastructures for electric power, and rural electrification will be the main causes for the growth in the European and Middle East and African switchgear markets, respectively.
Forecast compound annual growth rate of the medium voltage switchgear market worldwide from 2021 to 2027, by region
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PTR. (November 1, 2022). Forecast compound annual growth rate of the medium voltage switchgear market worldwide from 2021 to 2027, by region [Graph]. In Statista. Retrieved January 08, 2025, from https://www.statista.com/statistics/1360924/mv-switchgear-market-cagr-worldwide-by-region/
PTR. "Forecast compound annual growth rate of the medium voltage switchgear market worldwide from 2021 to 2027, by region." Chart. November 1, 2022. Statista. Accessed January 08, 2025. https://www.statista.com/statistics/1360924/mv-switchgear-market-cagr-worldwide-by-region/
PTR. (2022). Forecast compound annual growth rate of the medium voltage switchgear market worldwide from 2021 to 2027, by region. Statista. Statista Inc.. Accessed: January 08, 2025. https://www.statista.com/statistics/1360924/mv-switchgear-market-cagr-worldwide-by-region/
PTR. "Forecast Compound Annual Growth Rate of The Medium Voltage Switchgear Market Worldwide from 2021 to 2027, by Region." Statista, Statista Inc., 1 Nov 2022, https://www.statista.com/statistics/1360924/mv-switchgear-market-cagr-worldwide-by-region/
PTR, Forecast compound annual growth rate of the medium voltage switchgear market worldwide from 2021 to 2027, by region Statista, https://www.statista.com/statistics/1360924/mv-switchgear-market-cagr-worldwide-by-region/ (last visited January 08, 2025)
Forecast compound annual growth rate of the medium voltage switchgear market worldwide from 2021 to 2027, by region [Graph], PTR, November 1, 2022. [Online]. Available: https://www.statista.com/statistics/1360924/mv-switchgear-market-cagr-worldwide-by-region/
