How big is the Switchgear Market?

The Switchgear Market size is expected to reach USD 122.24 billion in 2024 and grow at a CAGR of 6.10% to reach USD 164.35 billion by 2029. Read More

What is the current Switchgear Market size?

In 2024, the Switchgear Market size is expected to reach USD 122.24 billion. Read More

Who are the key players in Switchgear Market?

Schneider Electric, Mitsubishi Electric Corporation, Siemens AG, ABB Ltd and Havells India Limited. are the major companies operating in the Switchgear Market. Read More

Which is the fastest growing region in Switchgear Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Switchgear Market?

In 2024, the Asia Pacific accounts for the largest market share in Switchgear Market. Read More

What years does this Switchgear Market cover, and what was the market size in 2023?

In 2023, the Switchgear Market size was estimated at USD 114.78 billion. The report covers the Switchgear Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Switchgear Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Switchgear Market Report | Industry Growth, Size & Trends Analysis

Switchgear Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Switchgear Market Report is Segmented by Type (Voltage [Low-Voltage, Medium-Voltage, High-Voltage]), Insulation ([Gas-Insulated Switchgear (GIS), Air-Insulated Switchgear (AIS), and Other Insulation Types]), and Installation [Indoor and Outdoor]), End-User Industry (Commercial, Residential, and Industrial), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America). The Report Offers Market Forecasts and Size in Value (USD) for all the Above Segments.

Switchgear Industry Overview

The switchgear market is fragmented, with key players such as ABB Ltd, Havells India Ltd, Mitsubishi Electric Corporation, Schneider Electric, and Siemens AG. Players are adopting strategies such as partnerships, innovations, and acquisitions to enhance product offerings and gain a sustainable competitive advantage.

In April 2024, Schneider Electric partnered with Digital Realty to introduce a new circular economy project at its Paris 5 (PAR5) data center. This initiative aims to extend the lifespan of critical systems at PAR5, such as Schneider Electric's low-voltage (LV) and medium-voltage (MV) electrical equipment, switchgear, and UPS units, in alignment with Digital Realty's Environmental, Social, and Governance (ESG) goals.

March 2024: HELB is an authorized partner of international manufacturers specializing in low-voltage switchgear cabinets. The company provides users with a comprehensive technical solution from start to finish, including design, production, installation, and commissioning. HELB partnered with Siemens to produce Sivacon S8 switchgear to meet market needs and industry trends. Sivacon S8 is a commonly employed electrical distribution system for distributing electrical energy in industrial plants and commercial facilities.