Market Size of Canada Switch Gear Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Canada Switch Gear Market Analysis
The Canadian switchgear market is expected to grow at a CAGR of more than 7.0% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
Over the long term, the rise in electricity demand and generation. The expansion of the distribution network is also increasing significantly across the country to accommodate the infrastructure development projects, and integration of renewables into the grid are the primary drivers for the market.
However, stringent environmental and safety regulations related to SF6 gas emissions are restraining factors for the switchgear market.
Nevertheless, the rising investment by government-owned companies in expanding transmission and distribution network is likley to create lucrative opportunities for the market.
