The Future Growth Outlook for Modular Substation Market
Monday, 1 April 2024, 17:30
Overview
The modular substation market is on a trajectory of substantial growth, with a projected market value of US$48 billion by 2034.
Drivers of Growth
- Increasing modernizations of electric substations
- Urbanization and industrialization in developing economies
The United States leads the market, expected to hit US$8 billion by 2034, growing at an annual rate of 7.9%.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.