Switchgear Market: By Product Type, By Voltage, By End Users and Region Forecast 2019-2030

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Switchgear Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (AIR and GAS), By Voltage (<1 kV, 1-36 kV, >36 kV), By End Users (T&D Utilities, Industries, Commercial & Residential, Others) and Region Forecast 2019-2030

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Switchgear Market size was estimated to be valued at US$ 45,026.8 million in 2023 and is poised to grow at a significant CAGR of 9.9% from 2024-2030. Switchgear equipment is typically employed in complicated electrical substations to operate under varying operating voltages in a volatile environment. The market is expected to increase further due to the construction of new industrial infrastructure, such as power plants, for dependable and safe operations. Based on the product type GIS switchgear segment is projected to grow at a significant CAGR from 2024 to 2030. The adoption of GIS is gradually increasing due to the usage of GIS for power transmission, and the integration of renewable power generation units to the grid and railways. GIS switchgear provides high flexibility and reliability as compared with other solutions.

Moreover, competitors are focusing on launching new products to maintain growth in the market. For instance, in 2020, Hitachi Energy successfully achieved 350 kV/20 30 kA DC current cutting for the EU PROMOTioN HVDC project (PROMOTioN, 2020). In 2019, GE launched an MVDC breaker product with a goal to handle up to 100 kV voltage. Rise in demand for electricity and increase in research activities and investment in the market are the factors driving the switchgear market. Moreover, rapid urbanization, rise in disposable income, and advancements in residential and commercial infrastructure are fuelling the demand for market growth over the forecast years.

Key Developments

  • In January 2022, ABB partnered with Samsung Electronics to provide jointly developed technologies for energy savings, energy management, and smart Internet of Things (IoT) connections for both residential and commercial buildings.
  • In April 2021, GE and Hitachi-ABB Power Grids signed a non-exclusive cross-licensing agreement that will enable them to expand their high-voltage equipment line by adopting a game-changing gas alternative to sulfur hexafluoride (SF6). SF6 is an insulating and switching gas commonly used in high-voltage electrical equipment.

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Switchgear Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

9.9%

Largest Market

North-America

Fastest Growing Market

Asia-Pacific

Switchgear Market Dynamics

The switchgear market will be boosted by increasing investments in infrastructure and the rising need for better monitoring and control systems. Furthermore, the continued integration of renewable energy generation and retrofitting as well as replacement of conventional power infrastructure is expected to drive the growth of the market. The high voltage segment has grown in response to a growing reliance on large enterprises and utilities, such as power generation and industrial facilities. In addition, the heavy metal and mining industries, in tandem with the rapid construction of long-distance power networks are expected to create several opportunities in the market.

Switchgear Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 45,026.8 million

Market CAGR

9.9%

By Product Type

  • AIS
  • GIS

By Voltage

  • <1 kV
  • 1-36 kV
  • >36 kV

By End User

  • T&D Utilities
  • Industries
  • Commercial & Residential
  • Others

By Region

  • North America (U.S., Canada)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
  • Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

Key Features of the Report

  • The switchgear market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario.
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis in addition to recent technology advancements and innovations in the market

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Frequently Asked Questions

The global switchgear market size was valued at US$ 45,026.8 million in 2023 and is expected to grow at a CAGR of 9.9% from 2024-2030.

The key players of the market are Siemens, General Electric, Mitsubishi Electric, Eaton, Legrand

The Asia Pacific is the fastest-growing region for the market

1.Executive Summary
2.Global Switchgear Market Introduction 
2.1.Global Switchgear Market  - Taxonomy
2.2.Global Switchgear Market  - Definitions
2.2.1.Product Type
2.2.2.Voltage
2.2.3.End User
2.2.4.Region
3.Global Switchgear Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Switchgear Market Analysis, 2019-2023 and Forecast 2024-2030
4.1.  Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Switchgear Market  By Product Type, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million)
5.1. AIS
5.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. GIS
5.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
6.Global Switchgear Market  By Voltage, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million)
6.1. <1 kV
6.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. 1-36 kV
6.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. >36 kV
6.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
7.Global Switchgear Market  By End User, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million)
7.1. T&D Utilities
7.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Industries
7.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Commercial & Residential
7.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Others
7.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
8.Global Switchgear Market  By Region, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Middle East and Africa (MEA)
8.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Latin America
8.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9.North America Switchgear Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million)
9.1. Product Type Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.AIS
9.1.2.GIS
9.2.  Voltage Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.<1 kV
9.2.2.1-36 kV
9.2.3.>36 kV
9.3.  End User Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.T&D Utilities
9.3.2.Industries
9.3.3.Commercial & Residential
9.3.4.Others
9.4.  Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10.Europe Switchgear Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million)
10.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.AIS
10.1.2.GIS
10.2.  Voltage Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.<1 kV
10.2.2.1-36 kV
10.2.3.>36 kV
10.3.  End User Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.T&D Utilities
10.3.2.Industries
10.3.3.Commercial & Residential
10.3.4.Others
10.4.  Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
10.4.6.Rest of EU
11.Asia Pacific (APAC) Switchgear Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million)
11.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.AIS
11.1.2.GIS
11.2.  Voltage Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.<1 kV
11.2.2.1-36 kV
11.2.3.>36 kV
11.3.  End User Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.T&D Utilities
11.3.2.Industries
11.3.3.Commercial & Residential
11.3.4.Others
11.4.  Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12.Middle East and Africa (MEA) Switchgear Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million)
12.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.AIS
12.1.2.GIS
12.2.  Voltage Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.<1 kV
12.2.2.1-36 kV
12.2.3.>36 kV
12.3.  End User Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.T&D Utilities
12.3.2.Industries
12.3.3.Commercial & Residential
12.3.4.Others
12.4.  Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.GCC Countries
12.4.2.South Africa
12.4.3.Rest of MEA
13.Latin America Switchgear Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million)
13.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.AIS
13.1.2.GIS
13.2.  Voltage Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.<1 kV
13.2.2.1-36 kV
13.2.3.>36 kV
13.3.  End User Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.T&D Utilities
13.3.2.Industries
13.3.3.Commercial & Residential
13.3.4.Others
13.4.  Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Brazil
13.4.2.Mexico
13.4.3.Rest of LA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.ABB (Switzerland)
14.2.2.Siemens (Germany)
14.2.3.General Electric (US)
14.2.4.Eaton (Ireland)
14.2.5.Legrand (France)
14.2.6.Fuji Electric (Japan)
14.2.7.Hitachi (Japan)
14.2.8.Toshiba (Japan)
14.2.9.Lucy Electric (UK)
14.2.10.Hubbell (US)
14.2.11.BHEL (India)
14.2.12.Powell (US)
14.2.13.Havells (India)
14.2.14.Mitsubishi Electric (Japan)
14.2.15.Schneider Electric (France)
14.2.16.Hyundai Electric (South Korea)
15. Research Methodology 
16. Appendix and Abbreviations 

Key Market Players

  • ABB (Switzerland)
  • Siemens (Germany)
  • General Electric (US)
  • Eaton (Ireland)
  • Legrand (France)
  • Fuji Electric (Japan)
  • Hitachi (Japan)
  • Toshiba (Japan)
  • Lucy Electric (UK)
  • Hubbell (US)
  • BHEL (India)
  • Powell (US)
  • Havells (India)
  • Mitsubishi Electric (Japan)
  • Schneider Electric (France)
  • Hyundai Electric (South Korea)

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