Market Size of China Switchgear Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 9.64 Billion |
| Market Size (2029) | USD 11.94 Billion |
| CAGR (2024 - 2029) | 4.39 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Switchgear Market Analysis
The China Switchgear Market size is estimated at USD 9.64 billion in 2024, and is expected to reach USD 11.94 billion by 2029, growing at a CAGR of 4.39% during the forecast period (2024-2029).
- Over the medium period, increasing electricity generation and consumption, along with the rising emphasis on renewable energy generation, are expected to drive the switchgear market during the forecast period.
- On the other hand, stringent environmental and safety regulations related to the switchgear market are restraining factors. Also, increasing competition from the unorganized sector of the overall switchgear market is expected to restrain the switchgear market in the coming years.
- Nevertheless, the expansion of power transmission and distribution (T&D) infrastructure to achieve high rates of electricity access in China is expected to create significant opportunities for switchgear market.
China Switchgear Industry Segmentation
A switchgear is a term associated with power system protection and is used for regulating, switching on or off the electrical circuit, and controlling the electrical power system. The different components of switchgear are circuit breakers, isolators, relays, switches, fuses, and control panels. It is used to de-energize the equipment for testing, maintenance, and clearing the fault.
The China switchgear market is segmented by voltage type, end-user industry, insulation, and installation. By voltage type, the market is segmented into low-voltage, medium-voltage, and high-voltage), by insulation into gas-insulated switchgear (GIS), air-insulated switchgear (AIS), and other insulations, by installation into indoor and outdoor, and by end-user industry into commercial, residential, and industrial. For each segment, the market sizing and forecasts have been provided based on value (USD).
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China Switchgear Market Size Summary
The China switchgear market is poised for growth, driven by increasing electricity generation and consumption, alongside a strong emphasis on renewable energy. The expansion of power transmission and distribution infrastructure is expected to create significant opportunities, despite challenges such as stringent environmental regulations and competition from the unorganized sector. Switchgear plays a crucial role in protecting and controlling electrical devices, which is vital for the industrial and manufacturing sectors to prevent equipment damage and downtime. The ongoing industrialization and urbanization in China, coupled with the rise in primary energy consumption, are anticipated to further boost the demand for switchgear during the forecast period.
China's commitment to renewable energy and modernization of its transmission and distribution systems is a key factor propelling the switchgear market. The government's initiatives to ban coal-fired power plants and support large-scale solar PV development through subsidies are enhancing the country's renewable energy capacity. Significant investments in ultrahigh voltage power transmission projects by the State Grid Corporation of China are expected to drive the market. The semi-consolidated market features key players like ABB Ltd, Schneider Electric SE, and General Electric Company, who are instrumental in meeting the growing demand for switchgear solutions.
China Switchgear Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 Increasing Electricity Generation and Consumption
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1.5.1.2 Rising Emphasis on Renewable Energy Generation
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1.5.2 Restraints
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1.5.2.1 Stringent Environmental and Safety Regulations
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Voltage
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2.1.1.1 Low-Voltage
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2.1.1.2 Medium-Voltage
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2.1.1.3 High-Voltage
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2.1.2 Insulation
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2.1.2.1 Gas Insulated Switchgear (GIS)
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2.1.2.2 Air Insulated Switchgear (AIS)
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2.1.2.3 Other Insulation Types
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2.1.3 Installation
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2.1.3.1 Indoor
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2.1.3.2 Outdoor
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2.2 End-user Industry
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2.2.1 Commertial
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2.2.2 Residential
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2.2.3 Industrial
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China Switchgear Market Size FAQs
How big is the China Switchgear Market?
The China Switchgear Market size is expected to reach USD 9.64 billion in 2024 and grow at a CAGR of 4.39% to reach USD 11.94 billion by 2029.
What is the current China Switchgear Market size?
In 2024, the China Switchgear Market size is expected to reach USD 9.64 billion.
