Load Centers Market to Hit Valuation of USD 2,608.8 Million By 2032: Astute Analytica [Yahoo! Finance]
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Source: Yahoo! Finance
Asia Pacific leads the market, with main breaker load centers in high demand due to their safety, versatility, and compliance advantages. New Delhi, May 06, 2024 (GLOBE NEWSWIRE) -- The global load centers market is anticipated to reach US$ 2,608.87 million by 2032 from US$ 1,443.15 million in 2023 at a CAGR of 6.8% during the forecast period 2024 to 2032. The global load centers market is poised for significant growth, with electricity consumption projected to nearly double from 23,398 TWh in 2020 to 41,558 TWh by 2050, representing a robust 77% increase. This surging demand, particularly in the U.S. where electricity use is forecast to rise by nearly 30% from 2021 to 2050, is a key driver for the expansion of load centers – the critical infrastructure that distributes electricity to end users. Further fueling this expansion is the ever-growing global population expected to reach 9.7 billion by 2050, with a majority residing in urban areas. This urbanization trend concentrates el
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