The GCC Switchgear Market is expecting around 5% CAGR during 2022-27, cites MarkNtel Advisors in their recent research report. The growing energy consumption by the exponentially rising population is the prime aspect surging the demand for a robust system like switchgear to manage & protect the facility from sudden triggers of energy flow and, in turn, driving the market across GCC countries.
Besides, the mounting focus of governments of different regional countries on infrastructural developments, i.e., introducing numerous projects associated with the construction of residential, commercial, & industrial facilities, along with renovations of aging facilities, is also boosting the switchgear market.
Moreover, the growing establishment of power plants and the swift expansion of the manufacturing sector are other crucial aspects projected to fuel the overall market growth through 2027, further states the research report, "GCC Switchgear Market Analysis, 2022."
High Protection & Operational Efficiency of Air Insulated Switchgear to Boost the Market
Air-insulated switchgear occupies less space, offers greater safety than other types of switchgear & higher protection from ambient conditions, and is pollution-free & cost-effective. As a result, its burgeoning demand across different end-users like T&D (Transmission & Distribution) utilities, industrial, commercial, and residential sectors is contributing significantly to the overall market growth.
Moreover, their extensive use in compact substations in load centers like high-rise buildings, large public facilities, & factories, owing to benefits like hassle-free fault location & repairing, is also projecting lucrative prospects for the overall market growth through 2027.
Rapid Construction & Development in Saudi Arabia to Augment the Market Growth through 2027
The growing government focus on infrastructural developments and remodeling of aging facilities is surging the demand for switchgear across Saudi Arabia and stimulating the overall market growth. Besides, increasing construction activities associated with airports, malls, hotels, resorts, corporate spaces, educational institutes, etc., in the country are other prominent aspects augmenting the demand for robust switchgear systems for greater operational efficiency & safety by automatically interrupting the high energy flow and protecting the entire electrical systems from damage, reveals MarkNtel Advisors in their research report, "GCC Switchgear Market Analysis, 2022."
The leading players in the GCC Switchgear Market are General Electric, Hitachi, ABB, Siemens, Fuji Electric, Mitsubishi Electric, Schneider, Eaton, Alfanar, and Al Ahelia Switchgear Co.
Key Questions Answered in the Research Report