The rising demand for enhanced protection in electricity distribution systems makes the deployment of advanced LV and MV switchgear imperative. Besides this, the demand for switchgear is also expected to increase in response to the rapid urbanization and infrastructural development witnessed worldwide. With governments of emerging nations such as Indonesia, India, and China increasingly investing in rural development and urbanization, the construction of electricity transmission and distribution networks and upgrades on existing ones are on the cards. This will stimulate the demand for LV and MV switchgear in the short term.
Across several nations worldwide, obsolete transmission and distribution networks have emerged as a major concern. Policy makers are thus compelled to focus on renewing the old transmission networks for better performance. This in turn boosts opportunities for the LV and MV switchgear market.