Posted 4/1/2024, 5:30:00 PM
Modular Substation Market to Reach $48 Billion by 2034, Driven by Demand for Reliable and Efficient Power Infrastructure
- Modular substation market to reach US$ 48 billion by 2034, growing at a CAGR of 8.2%
- Increasing demand for reliable power infrastructure and energy efficiency solutions driving growth
- United States leads the market, expected to hit US$ 8 billion by 2034 with 7.9% CAGR
- Strategic developments like mergers, acquisitions, collaborations by key players to expand market presence
- 11kV-33kV is the largest market segment, propelling at 8% CAGR; South Korea registers highest 10.3% CAGR