According to the research report titled ‘Europe Switchgear Market Size By Voltage, Insulation, Installation, Current, Application, Industry Analysis Report, Country Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, Europe switchgear market is likely to witness considerable growth during 2020-2026.
 

Consumer inclination towards adopting renewable sources of energy across primary as well as secondary power consumption applications is one of the key factors driving the growth of Europe switchgear market. Favorable government initiatives which promote refurbishment of age-old power distribution networks along with escalating expenditure towards infrastructural development are aiding the market expansion.
 

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As per voltage type, the report states that Europe switchgear market size from medium segment is expected to generate commendable returns in the ensuing years. Rapid expansion of commercial sector, swift industrialization, growing digitalization of power utilities, and rising adoption medium switchgears in critical power applications, airports correctional facilities and co-generation plants are fueling the segmental share.
 

By installation type, the outdoor segment is predicted to expand substantially during the study period. Growing electricity demand, increasing utilization of high-tension transmissions networks, supportive government incentives, and shifting preferences towards using outdoor switchgears in biotech, pharmaceutical, automotive, semiconductor, and heavy assembly applications are positively impacting Europe switchgear industry size from outdoor installations.
 

Moving on to current type, report claims that Europe switchgear market share from DC segment is estimated to register significant growth during the forecast period. Increasing development of power distribution infrastructure, growing demand for HVDC solutions, rising concerns associated with grid stability, surging investments towards renewable source of energy, and high integration of smart control as well as monitoring systems are contributing towards the growth of the segment.
 

Regionally, France switchgear market is anticipated to grow considerably during the estimated timeframe. Flourishing tourism sector, inclination towards converting electric grids to underground network, increasing urbanization, rapid smart city developments, growing population and focus towards improving existing transmission networks have allowed France to emerge as a major revenue generator Europe switchgear market.
 

Hitachi Ltd., Hubbell Incorporated, Fuji Electric Co. Ltd., Larsen & Toubro Limited, Schneider Electric, Siemens AG, Mitsubishi Electric Systems, General Electric Company, ABB Ltd., and Toshiba Corporation are major companies operating in Europe switchgear market.