Market Size of MEA Medium Voltage Switchgear Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA Medium Voltage Switchgear Market Analysis
The Middle East and Africa Medium Voltage Switchgear market is expected to register a CAGR of around 7% during the forecast period.
The COVID-19 pandemic drastically affected the electrical equipment market due to the crashed power demand and fewer power projects planned in the region.
- Over the short term, the Middle East and Africa switchgear market is anticipated to include elevated growth due to the growing penetration of renewables in the power sector. It is also due to the new transmission and distribution network projects in countries needing appreciable access to electricity.
- On the other hand, the dominance of the conventional energy supply, that is, the incumbent oil and gas industry in the region, is expected to challenge the growth of the power sector to fulfil the energy needs.
- Nevertheless, the growing urbanization in the Middle East and Africa magnifies energy consumption. Hence, the demand for power generation and transmission places ample opportunities for the switchgear market.
- Saudi Arabia will likely ace the market due to escalating energy needs and renewables-propelled smart grid development.
