The Latin America, Middle East and Africa Switchgear Market would witness market growth of 7.8% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 3677 thousand units, showcasing a growth of 9.4% (2023-2030).
The increasing demand for power in emergent economies due to rapid urbanization and industrialization has led to a focus on developing efficient power transmission and distribution networks and increasing demand for switches, fuses, and circuit breakers. The market is anticipated to increase due to the high demand for products from the power sector.
Outdated power transmission and distribution infrastructure calls for replacement with advanced and efficient solutions, such as switchgear, which comprises various devices that control and safeguard electrical devices connected to power by isolating electrical equipment in power systems. In addition, it contributes to the modernization of the grid by enabling precise control and monitoring of electricity flows, thereby enhancing grid efficiency.
The Middle East region is witnessing a shift toward Industry 4.0 principles, which involve integrating digital technologies and automation in manufacturing and industrial processes. Switchgear is a critical component in smart factories, where it helps in controlling and protecting electrical circuits in automated production lines. The Middle East is a significant global oil and gas player. Automation and digitization are increasingly adopted in this sector to enhance operational efficiency and safety. Switchgear plays a role in ensuring reliable power distribution in remote oil and gas facilities. As a result of the expansion of multiple sectors across LAMEA region, the market is estimated to grow.
The Brazil market dominated the LAMEA Switchgear Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,899.9 million by 2030. The Argentina market is showcasing a CAGR of 8.4% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 7.6% during (2023 - 2030).
Based on Installation, the market is segmented into Outdoor, and Indoor. Based on Insulation, the market is segmented into Vacuum, Air, and Oil & Gas. Based on Voltage Type, the market is segmented into Low Voltage, Medium Voltage, and High Voltage. Based on End-use, the market is segmented into Transmission & Distribution (T & D) Utilities, Commercial & Residential, and Industrial. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Switchgear Market is Projected to reach USD 152 Billion by 2030, at a CAGR of 5.8%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include ABB Ltd., Alstom SA, Bharat Heavy Electricals Ltd., Eaton Corporation PLC, General Electric Company, Legrand Group, Hitachi, Ltd., Crompton Greaves Consumer Electricals Limited., Larsen & Toubro Limited, Mitsubishi Electric Corporation.
By Installation (Volume, Thousand Units, USD Million, 2019-2030)
By Insulation (Volume, Thousand Units, USD Million, 2019-2030)
By Voltage Type (Volume, Thousand Units, USD Million, 2019-2030)
By End use (Volume, Thousand Units, USD Million, 2019-2030)
By Country (Volume, Thousand Units, USD Million, 2019-2030)
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