$136.65 Bn Switchgear Market Analysis by Insulation, Installation, Current, Voltage, End User and Region - Global Forecast to 2030 - ResearchAndMarkets.com

The "Switchgear Market by Insulation (Gas-insulated, Air-insulated), Installation (Indoor, Outdoor), Current (AC, DC), Voltage (Low, Medium, High), End User (T&D Utilities, Industries, Commercial & Residential, Data center) and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The switchgear market is estimated to grow from USD 103.71 billion in 2025 to USD 136.65 billion by 2030, at a CAGR of 5.7%

This growth is driven by rising electricity demand, rapid urbanization, expansion of renewable energy, and ongoing grid modernization efforts. However, the market faces restraints such as high initial installation costs, supply chain disruptions, and environmental concerns related to SF6 gas used in some switchgear types.

By voltage, medium (2-36kV) is expected to be the fastest growing market during the forecast period.

During the forecasted period, the medium voltage (2-36kV) segment is the fastest-growing segment in the global switchgear market due to its critical role in power distribution for urban infrastructure, industrial facilities, commercial buildings, and renewable energy projects. As cities expand and smart grids evolve, medium voltage switchgear is increasingly deployed to manage localized distribution efficiently and safely.

Additionally, governments worldwide are investing in strengthening medium-voltage networks to improve energy access, reduce transmission losses, and support distributed energy resources such as rooftop solar and battery storage systems. Emerging economies, particularly in Asia-Pacific and Africa, are accelerating rural electrification and industrial development, further propelling demand. Moreover, the rise of electric vehicle charging infrastructure, metro rail projects, and digital substations is fuelling the need for compact, reliable, and automation-ready medium voltage switchgear.

By current, the AC segment is projected to be the largest market during the forecast period.

By current, the AC segment holds the largest share of the global switchgear market because it is the dominant form of electricity used in power generation, transmission, and distribution systems worldwide. Most national grids operate on AC due to its efficiency in transmitting power over long distances and ease of voltage transformation using transformers.

As a result, most of the electrical infrastructure - ranging from utilities and industrial plants to commercial and residential buildings - is designed around AC systems. This widespread adoption drives consistent demand for AC switchgear across all voltage levels. Additionally, the expansion of renewable energy sources like wind and hydro, which predominantly generate AC power, further reinforces the global market dominance of AC switchgear.

Asia Pacific is expected to be the largest and fastest-growing region in the switchgear market during the forecast period.

During the forecasted period, Asia Pacific is projected to be the largest and fastest-growing segment in the global switchgear market due to rapid urbanization, industrial expansion, and significant investments in power infrastructure across emerging economies such as China, India, Australia, and Japan. The region is witnessing substantial growth in electricity demand driven by population growth, rising incomes, and increased electrification of rural areas.

Governments are heavily investing in grid modernization, smart cities, and renewable energy integration, all of which require extensive deployment of switchgear systems. Additionally, strong manufacturing bases and supportive policy frameworks, such as India's Revamped Distribution Sector Scheme (RDSS) and China's Five-Year Plans, are further fuelling demand for both high-voltage and medium-voltage switchgear in utility and industrial applications.

The tier of the companies is defined based on their total revenue as of 2024. Tier 1: USD 1 billion and above, Tier 2: From USD 500 million to USD 1 billion, and Tier 3:

• Product Development/ Innovation: In April 2025, Eaton launched a Rear-Access Arc-Resistant Magnum PXR Low-Voltage Switchgear, which is a cutting-edge solution designed to enhance safety, reliability, and maintainability in power distribution systems. This is engineered for applications up to 600V AC with interrupting capacities up to 100 kA, and features arc-resistant construction and rear-access design, allowing safer operation and maintenance by isolating personnel from potential arc flash zones.
• Market Development: In June 2024, Siemens invested USD 115 million in its Frankfurt switchgear plant, aimed at expanding its production capacity and advancing sustainable technologies. The initiative will support the manufacturing of Siemens' SF6-free 8DAB-blue GIS medium-voltage switchgear, which uses climate-neutral Clean Air insulation, reinforcing Siemens' commitment to sustainable and digital power distribution solutions.
• Market Diversification: In March 2025, ABB expanded the production capacity of its low-voltage electrification products in the US. The expansion will enable ABB to meet increasing customer demand in a wide range of key growth industries, including data centers, buildings, and utilities.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Eaton (Ireland), and Hitachi, Ltd. (Japan), among others in the switchgear market.

Key Attributes:

Market Dynamics

Drivers

• Increasing Demand for Electricity
• Integration of Renewable Energy Sources

Restraints

• Regulatory Restrictions on Sf6 Gas Emissions
• High Capital and Lifecycle Costs

Opportunities

• Exponential Growth of Digital Services, Cloud Computing, and Ai
• Deployment of Smart Grid and Digital Substations

Challenges

• Fragmented Regulatory and Standardization Landscape
• Cybersecurity Risks Associated with Digital Switchgear Systems

Technology Analysis

Key Technologies

• Digital Switchgear
• Sf6-Free Insulation

Adjacent Technologies

• Advanced Energy Storage Systems (Ess)
• Smart Meters and Ami

Complementary Technologies

• Scada and Grid Automation Systems
• Arc Flash Detection & Mitigation Systems

Case Study Analysis

• Abb Deploys Molded Vaccum Modules to Minimize Infrastructure Rework
• Enemalta Revives Switchgear Performance Through Ssl-Led Refurbishment at Marsa Power Station
• Proteus Switchgear Enhances High-Performance Vehicle Testing with Custom Electrical Solutions

Company Profiles

• Schneider Electric
• Siemens
• ABB
• Hitachi, Ltd.
• Eaton
• GE Vernova
• Mitsubishi Electric Corporation
• Powell Industries
• Hubbell
• Hd Hyundai Electric Co. Ltd.
• Toshiba Corporation
• Bharat Heavy Electricals Limited
• Cg Power & Industrial Solutions Ltd.
• Hyosung Heavy Industries
• Fuji Electric Co. Ltd.
• Weg
• Doho Electric
• Lucy Group Ltd.
• Ls Electric Co. Ltd
• Chint Group
• Secheron
• Elektrobudowa
• Meidensha Corporation
• Ormazabal
• Alfanar Group

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