Mon, Apr 15th 2024
With a robust projection for the circuit breakers market, Switzerland’s is set to be an influence globally by 2030.
The circuit breakers market, crucial for safeguarding electrical circuits worldwide, is witnessing significant growth, with Switzerland playing a pivotal role according to a reports published Monday.
As of 2024, this market is on track to grow from $9.4 billion in 2020 to a projected $17.8 billion by 2030, at a CAGR of 6.3%.
This growth is driven by increased demands across several key industries including power generation, construction, and industrial sectors. Claims further reports on the industry today.
Switzerland, renowned for its high-quality manufacturing standards, is set to dominate the European market. Swiss companies are at the forefront, developing advanced circuit breaker technologies that enhance safety and efficiency.
These innovations are particularly aimed at supporting the surge in renewable energy installations, modernising aging power infrastructures, and catering to the new wave of electric vehicles and smart grids.
Switzerland’s contribution is not only elevating its own market presence but also setting the pace for circuit breaker technology globally.
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