International market research firm Markets and Markets has released a report stating that the global smart grid market is expected to grow from $43.1 billion in 2021 to $103.4 billion in 2026, at a compound annual growth rate of 19.1% during the period.
What is high-voltage switchgear equipment? High-voltage switchgear refers to the role of on-off, control or protection in the power generation, transmission, distribution, power conversion and consumption of the power system. Electrical products with voltage levels ranging from 3.6 kV to 550 kV, mainly including high-voltage circuit breakers, high-voltage isolation switches and grounding switches, high-voltage load switches, high-voltage automatic reclosers and sectioners, high-voltage operating mechanisms, high-voltage explosion-proof power distribution devices, and high-voltage Switch cabinets, etc.