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Switchgear Market

Switchgear Market: Information by Voltage Level (Low Voltage, Medium Voltage, High Voltage), Installation (Outdoor Type, Indoor Type), and End-Use — Forecast Till 2026

Published At : 31 Dec, 2019
Updated At : 29 Mar, 2022
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Market Snapshot
Base Year:
Study Period:
7 %
Fastest Growing Market:
Asia Pacific
Largest Market:
North America

Global Statistics Representing Switchgear Market Scenario

A switchgear is a mechanical device used to switch on/off, control, and protect electrical equipment. It is a combination of switches, circuit breakers, and fuses. Switchgears are placed in high and low voltage sides in power transformers and used for cutting off electrical supply from the equipment for testing and maintenance and clearing faults in an electrical system. The conventional switchgear consisted of transformers, connectors, and circuit breakers while new switchgears employ magnetic actuation and make use of Internet of Things to make smart grids that are more reliable and efficient. Industrialization and investment in infrastructure and manufacturing sectors are propelling the growth of the switchgear market. The current shift towards green and smart technologies is also augmenting the market value.

The global switchgear market is expected to register a CAGR of 7% during the forecast period.

Global Switchgear Market Scenario         

Investments in energy infrastructure and renewable energy sources are fueling the switchgear market. Investments in rural infrastructure across developing countries of Asia-Pacific are particularly expected to augment market value. For instance, The Pradhan Mantri Sahaj Bijli Har Ghar Yojana or Saubhagya Scheme is an Indian government project that aims to provide electricity to all households. Such projects drive the demand for switchgears.

Developed countries in North America and Europe have increased investments to phase out old electrical infrastructures and replace them with the latest electrical infrastructure, which leaves a lower carbon footprint, is highly efficient, and has low transmission losses. Developed countries have also increased their investments into green technologies to help mitigate the adverse effects of climate change due to the rise in average annual temperatures, and this has indirectly improved the demand for switchgears. Fluctuating raw material prices for steel and copper could retrain the demand. The U.S.-China trade war may also have a considerable impact on this market.

The Future of Switchgear — Digital and Smart

Switchgears are becoming more intelligent with the inclusion of Internet of Things (IoT), which predicts any future faults and takes corrective actions beforehand. Other benefits include real-time information, and better visibility, which improve the overall reliability of the systems and increase the efficiency of systems. Residential and commercial buildings consume a lot of electricity and the inclusion of smart switchgear will help save energy and bring down electricity bills significantly. For instance, Schneider Electric has launched a range of medium-voltage switchgears that is smart grid ready, more reliable, safe, and easy to use.

Intended Audience

  • Product Manufacturers
  • Government and Research Organizations
  • Raw Material Suppliers and Distributors
  • Potential Investors

Low Voltage, Medium Voltage, and High Voltage Switchgears

Low voltage switchgears are rated from 1000V AC and 1500V DC and include air circuit breakers, earth leakage circuit breakers, and miniature circuit breakers, among others. Medium voltage switch gears are rated from the 3.3 kV to 33kV class and are primarily used in the distribution of electricity to various electrical networks. Their main function is to interrupt electricity during faulty conditions. They consist of bulk oil circuit breakers, and gas-insulated switchgear, among others. High voltage switchgear systems deal with voltages above 36kV.

Use of Outdoor Switchgears vs. Indoor Switchgears

Outdoor switchgears are used where the voltage above 66 kV. High voltage can result in an increase in installation cost during building work, owing to the considerably large spacing between the conductor and insulator. For voltages below 66 kV, indoor switch gears are used due to economic considerations and their compact and completely enclosed metal casing.

Upgradation of Power Grids in North America and Europe

North America and Europe markets are expected to contribute to the global switchgear market significantly during the forecast period. According to the North American Renewable Integration Study (NARIS), the region is diversifying its energy source portfolio by making large investments in wind, solar, and hydropower segments. Also, grid modernization and capacity improvement of the installed grids will lead to an increase in demand. With the Internet of Things getting deeply entrenched in all walks of life, the switchgear market has not remained behind. New technologies are being integrated into switchgears to make them smart, more reliable, and controllable from anywhere.

Emerging Economies in Asia-Pacific

The Asia-Pacific switchgear market accounted for the highest share globally in 2018 and is expected to remain dominant throughout the forecast period. Countries such as China and India are witnessing heavy investments in infrastructure, rural development, and industrial sectors. This has led to the laying of transmission lines and distribution networks at a rapid pace. The growing demand for renewable energy from countries such as India will also drive the growth of the switchgear market, where the government has set a target of installing 175 GW of clean energy capacity by 2022.

India is the world’s sixth-largest energy consumer and accounts for 3.4% of the global energy consumption. According to the Indian Electrical and Electronics Manufacturers’ Association (IEEMA), Indian manufacturers of electrical and electronic equipment have contributed to more than 95% of the equipment installed. The manufacturers have a combined turnover of USD 42 billion, and the market is anticipated to witness empowering demand in the coming years. Government directives to change old electrical equipment with new and energy-efficient systems are also set to drive the growth for the switchgear market. Also, initiatives by the Government of India, such as Make in India, Smart Cities, and rail electrification by renewable power, are also expected to influence the market positively.

Industry News

  • Eaton completed the acquisition of Innovative Switchgear Solutions Inc. (ISG), a
    specialty manufacturer of medium-voltage electrical equipment serving the North American utility, commercial, and industrial markets in July 2019. ISG’s solid dielectric underground switchgear products provide low-maintenance and compact solutions that help solve the critical challenges customers face
  • Schneider launched the Masterpact MTZ, a high-power low voltage circuit breaker that provides safety and reliability and enhances performance in May 2019
  • ABB announced a USD 25-million investment to bring LV switchgears to North America with a view to expand its portfolio in low-voltage switchgear motor control centers and panels in 2017
  • Siemens launched a medium voltage switchgear that makes use of clean air as the insulating medium and offers a safe and economical grid operation. The switchgear is used at the secondary distribution level in public and industrial power

Key Players

Prominent players in the market include Schneider Electric, Siemens, ABB, Hyosung, Hyundai, CG Power, Hitachi, Eaton, General Electric, Toshiba, Mitsubishi, Powell, Larsen and Toubro, Elektrobudowa, Hubbell, Lucy Electric (UK), SEL, and Fuji Electric.

Switchgear Market Segmentation

By Voltage Level

  • Low voltage (LV) switchgear
  • Medium voltage (LV) switchgear
  • High voltage (LV) switchgear

By Basis of Installation

  • Outdoor type switchgear
  • Indoor type switchgear

By End-use

  • Industrial
  • Residential
  • Commercial
  • Utilities

By Region

North America

  • The U.S.
  • Canada
  • Mexico


  • Germany
  • France
  • The U.K.
  • Italy
  • Spain
  • Russia
  • Poland
  • Rest of Europe


  • Japan
  • India
  • China
  • South Korea
  • Australia
  • Vietnam
  • Indonesia
  • Malaysia
  • Singapore
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Argentina
  • Colombia
  • Rest of Latin America

Middle East

  • Saudi Arabia
  • Oman
  • Qatar
  • Bahrain
  • The UAE
  • Africa
  • Nigeria
  • Tanzania
  • South Africa
  • Ghana
  • Rest of the Middle East

Frequently Asked Questions (FAQs)

The Global Switchgear Market is expected to register a CAGR of 7% during the forecast period.
Industrialization and investment in infrastructure and manufacturing sectors are the key factor expected to drive the Switchgear Market during forecast period.
North America and Europe is expected to hold the highest markets share in Switchgear Market.
Schneider Electric, Siemens, ABB, Hyosung, Hyundai, CG Power, Hitachi, Eaton are the top players in Switchgear Market.
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Report Metric Details
Market Size USD in Billion By 2030
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered by Voltage Level (Low Voltage, Medium Voltage, High Voltage), Installation (Outdoor Type, Indoor Type), and End-Use
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Schneider Electric, Siemens, ABB, Hyosung, Hyundai, CG Power, Hitachi, Eaton, General Electric, Toshiba, Mitsubishi, Powell, Larsen and Toubro, Elektrobudowa, Hubbell, Lucy Electric (UK), SEL, and Fuji Electric.
Key Market Opportunities Rapid Growth In Mining Minerals & Metals Industry Enhances Switchgear Market
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