The switchgear market is projected to expand at a 5.7% CAGR from an estimated US$ 90.9 Billion in 2022 to US$ 158.24 Billion by 2032. Over the last few years, the switchgear market has grown slowly. Switchgear market expansion is expected to continue as energy demand rises. China is a global leader in the implementation and development of smart grids. The country has established several smart grids to reduce transmission and distribution losses. China’s state grid announced a US$65 billion investment in ultra-high voltage projects, which is expected to increase demand for high voltage and ultra-high voltage switchgear. Grid modernization and the country’s power requirements are expected to drive growth in China’s market. Request Sample Report Copy@ https://www.futuremarketinsights.com/reports/sample/rep-gb-282 The report offers an analysis of the growth trajectory exhibited by the market in 20+ high-growth countries. It offers detailed insights into factors that will be driving growth over the coming decade. As T&D utility sector is estimated to witness a healthy growth rate in the forecast period. According to the report, T&D utilities are expected to account for nearly 46% of switchgear sold in 2021. Besides this, the demand is expected to surge in commercial, industrial, and residential sectors enabling growth in the market.