Voltage Detection System Market PPT - PowerPoint PPT Presentation

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Voltage Detection System Market PPT

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Date added: 27 September 2022
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Title: Voltage Detection System Market PPT


1
Voltage Detection System Market is expected to be
USD 1,600 Million by 2030
2
Industry Overview
  • The voltage detection system market is projected
    to witness a major upsurge by 2030, driven by the
    rapid expansion of electric grid networks to
    accommodate the rise in global electricity
    demand.
  • With the growing power demand, policymakers are
    compelled to engage in modernization and
    upgradation of existing grid networks. This
    revamped infrastructure is integrated with
    efficient electrical equipment, thereby promoting
    the delivery of reliable and uninterrupted
    electricity.
  • During the initial months of the COVID-19
    outbreak, power grid expansion projects witnessed
    a dramatic decline worldwide. However, in 2021,
    investments in electricity grids were anticipated
    to rise by 10, according to the International
    Energy Agency. This was due to growing
    infrastructure spending in the United States,
    China, and Europe. Such electric infrastructure
    development initiatives are expected to improve
    the demand for voltage detectors in the power
    industry.
  • Another key factor bolstering the need for high-
    and low-voltage detection circuits is the rising
    prominence of smart grid projects. In the
    European Union, these projects play a crucial
    role in the implementation of digital
    communication technologies to integrate large
    amounts of power generated from distributed and
    renewable energy sources.

3
Continue
  • Moreover, they contribute to global greenhouse
    gas emission targets. With the rapid
    digitalization and the strong focus on combating
    the climate crisis, the voltage detection system
    market is poised to attain a commendable
    valuation over the forecast period.
  • Based on region, the global voltage detection
    system market is segmented into North America,
    the Asia Pacific, Europe, the Middle East
    Africa, and Latin America.
  • The Europe voltage detection system industry is
    poised to exhibit a CAGR of more than 4 over the
    stipulated period. The regional market growth is
    driven by the increasing reliance on clean energy
    sources to generate electricity. As per data from
    Eurostat, renewable energy sources accounted for
    up to 37.5 of the gross power consumption in the
    EU, a hike from 34.1 in 2019.
  • Furthermore, the European Commission laid out its
    long-term plan to cut 55 of the carbon emissions
    from the economy. These situations can benefit
    the industry players, given the potential rise in
    demand for renewable power voltage testers.
  • Meanwhile, the MEA (the Middle East and Africa)
    region is likely to emerge as a prominent revenue
    hub for the voltage detection system industry.

4

Browse Full Market Research Report Of Voltage
Detection System Market _at_ https//www.gminsights.c
om/industry-analysis/voltage-detection-system-mark
et Inquiry Before Buying_at_ https//www.gminsight
s.com/inquiry-before-buying/5303 Request for a
Sample of this Research report _at_
https//www.gminsights.com/request-sample/detail/5
303
5
Voltage Detection System Market

6
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