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Middle East & Africa Switchgear Market Size
Middle East & Africa Switchgear Market was valued at USD 20.6 billion in 2023 and is anticipated to grow at a CAGR of 8.7% from 2024 to 2032, driven by increasing investments in the power sector, growing urbanization and the expansion of the industrial sector.
The market offers significant opportunities for manufacturers and suppliers, especially in countries like the UAE and Saudi Arabia, where major investments in power infrastructure are planned. For instance, in August 2023, the UAE's Ministry of Energy and Infrastructure has announced plans to invest USD 653 million in electricity transmission and distribution projects, including the construction of new substations and the upgrade of existing ones which will drive the demand for switchgear in the country.
Middle East & Africa Switchgear Market Report Attributes
| Report Attribute |
Details |
| Base Year: | 2023 |
|---|
| Middle East & Africa Switchgear Market Size in 2023: | USD 20.6 Billion |
|---|
| Forecast Period: | 2024 - 2032 |
|---|
| Forecast Period 2024 - 2032 CAGR: | 8.7% |
|---|
| 2032 Value Projection: | USD 44.1 Billion |
|---|
| Historical Data for: | 2019 to 2023 |
|---|
| No. of Pages: | 260 |
|---|
| Tables, Charts & Figures: | 305 |
| Segments covered: | Voltage, Insulation, Current, Application |
|---|
| Growth Drivers: | - Growing adoption smart grid infrastructure
- Revamping and upgrading the current grid infrastructure
- Rising electricity demand
|
|---|
| Pitfalls & Challenges: | - High dependency on imports
|
|---|
