The Global Paralleling Switchgear Market is driven by increasing demand for reliable power supply.
Paralleling switchgear is used to connect or disconnect electrical load from one or more power sources. It is primarily used in data centers, hospitals, manufacturing facilities, and commercial buildings to ensure continuous and reliable power supply. Paralleling switchgear allows automatic transfer of load between two or more power sources to prevent disruption in power supply in case of failure or maintenance of the primary source. Some key advantages of paralleling switchgear include high reliability, low maintenance, compact design, low acquisition and installation costs. With growing criticality of uninterrupted power supply across various industries, the need for paralleling switchgear has increased significantly.
The Global Paralleling Switchgear Market is estimated to be valued at USD 1.8 Bn in 2024 and is expected to reach USD 4.3 Bn by 2031, growing at a compound annual growth rate (CAGR) of 11.5% from 2024 to 2031.
Key players operating in the Paralleling Switchgear market are General Electric, Caterpillar Inc., Cummins Inc., Rolls-Royce plc., Pioneer Power Solutions, Hydrolec Pty Ltd, Bren-tronics Inc., Kohler Power and Generac Power Systems.
Growing energy requirements and increasing adoption of backup power solutions across industries has fueled the demand for Paralleling Switchgear Market globally. Rapid industrialization and infrastructure development activities in emerging economies offer lucrative growth opportunities.
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