PUBLISHER: Grand View Research | PRODUCT CODE: 1554228
PUBLISHER: Grand View Research | PRODUCT CODE: 1554228
The global generator paralleling switchgear market size was estimated at USD 1.71 billion in 2023 and expected to grow at a CAGR of 8.7% from 2024 to 2030. The rising emphasis on energy efficiency and sustainability by various countries including the U.S., the UK, Germany, India, and China is fueling the market growth.
A growing trend in the generator paralleling switchgear market is the shift towards modular and scalable solutions. Businesses and infrastructure projects increasingly seek switchgear systems that can be easily expanded or reconfigured as their power needs change. Modular switchgear allows for incremental upgrades and adjustments without overhauling the entire system, which offers greater flexibility and cost-efficiency. This trend reflects the need for adaptable power solutions in dynamic environments, where future growth and changes in energy demands are anticipated.
Global Generator Paralleling Switchgear Market Report Segmentation
This report forecasts volume & revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented global generator paralleling switchgear market report based on type, application, end-use, and region: