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Bullboard - Stock Discussion Forum Larsen Toubro 144A LTORY

Industrials Conglomerates

Larsen & Toubro Limited is engaged in engineering, procurement, and construction (EPC) projects; hi-tech manufacturing; and services. Its segments include Infrastructure Projects, Energy Projects, Hi-Tech Manufacturing, IT & Technology Services, Financial Services, Development Projects, and Others. Infrastructure Projects segment comprises engineering and construction of buildings and factories... see more

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Larsen Toubro 144A > Switchgear Market Report and Outlook 2023-2028

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Post by ivosmith on Dec 15, 2023 4:25am

Switchgear Market Report and Outlook 2023-2028

According to the latest research report, the global switchgear market size reached US$ 106.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 147.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

The rapid urbanization and industrialization occurring across developing countries are currently key drivers of the market. As cities continue to expand and industries grow, there is an ongoing increase in the demand for reliable and efficient electrical distribution systems. This surge in electricity consumption has led to a heightened need for sophisticated power distribution equipment to ensure the smooth operation of various industrial processes and residential utilities. Additionally, as industrial activities become more complex and diverse, there is an ongoing requirement for safety measures against electrical faults, short circuits, and overloads, further necessitating the usage of switchgears.

Explore full report with Table of Contents: https://www.imarcgroup.com/switchgear-market