This, coupled with supportive government initiatives for the development of renewable power are the prominent factors responsible for the growth of renewable power generation. The increasing awareness about renewable power led to a significant adoption of renewable energy. Increasing Share of Renewable Power Generation to Aid Market Growth Moreover, enormous construction activities to build commercial spaces, business parks, and housing societies are set to spike power demand. Hence, the space constraint in urban localities and growing energy demand is projected to further propel the gas insulated switchgear market growth during the forecast period. The extensive population shifting to cities is increasing the demand for electricity. According to the United Nations report in 2018, about 55% of the world’s population lives in urban areas, which is projected to increase to 68% by 2050. The growing population and growing rate of urbanization are likely to increase the demand for energy across the globe. Increasing Energy Demand Fuel Market Growth Request a Free sample to learn more about this report.
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