Press release
Segmentation, Major Trends, and Competitive Overview of the Switchgear Market
Switchgear Market
Projected Expansion and Market Size of the Switchgear Market by 2030
The switchgear market is anticipated to experience strong growth, reaching a valuation of $121.55 billion by 2030. This represents a compound annual growth rate (CAGR) of 6.2% during the forecast period. Factors fueling this expansion include the integration of renewable power systems, an increase in electric vehicle charging station installations, growing demand for digital switchgear solutions, smart grid development, and greater automation in industrial settings. Key trends shaping the market involve the adoption of smart, connected switchgear, a shift toward eco-friendly and SF6-free technologies, rising deployment of compact and modular switchgear units, increased switchgear use for renewable energy integration, and the growing implementation of condition-based monitoring systems.
Download a free sample of the switchgear market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3877&type=smp
Leading Players Driving the Switchgear Market Forward
Several prominent companies currently dominate the switchgear landscape. Top industry players include ABB Ltd, Schneider Electric, Siemens AG, Mitsubishi Electric Corporation, Eaton Corporation Inc, Hitachi Ltd., Toshiba Corporation, Hyundai Electric & Energy Systems Co. Ltd., Larsen & Toubro Limited, Havells India Limited, LS ELECTRIC Co. Ltd., Hyosung Heavy Industries, Meidensha, Nissin Electric, Shihlin Electric, CHEM, Fortune Electric, Anchor Electricals Pvt Ltd, CG Power and Industrial Solutions Limited, Orecco Electric, Tamco, Tenaga Switchgear, GE T&D India Ltd, Bharat Heavy Electrical Limited, Legrand India Private Limited, Industrial Solutions Limited, Fuji Electric, Lucy Electric, Twyver Switchgear, SwitchGear Company NV, Alan Electrical Limited, Electroshield Samara, Alstom, IZVA LLC, SIVAR, S&C Electric Company, Powell Industries, G&W Electric, Noja Power, Abunayyan Holding Company, BMC Manufacturing, TIEPCO, Wahah Electric Supply Company of Saudi Arabia Ltd. (WESCOSA), KFB Holding Group, Afcon, Matelec Group, and Egyptian German Electrical Manufacturing Co.
Significant Acquisition Expanding Service Capabilities in the Switchgear Sector
In December 2024, Integrated Power Services, LLC (IPS), a US-based company specializing in electric motor, generator, and rotating equipment repair, engineering, and maintenance, acquired Switchgear Solutions, Inc. This move aims to broaden IPS's scope in low- and medium-voltage switchgear services while enhancing its portfolio of electrical power system solutions. Switchgear Solutions, Inc., also US-based, offers custom-engineered switchgear, motor control centers, and circuit breaker services, making it a strategic addition to IPS for delivering comprehensive power distribution, control, and protection solutions for industrial and commercial customers.
View the full switchgear market report:
https://www.thebusinessresearchcompany.com/report/switchgear-global-market-report
Innovative Trends Positively Impacting Switchgear Market Growth
Switchgear market leaders are focusing on developing next-generation technologies that promote energy efficiency and sustainability. A significant innovation is the move toward SF6-free digital medium voltage (MV) switchgear, which eliminates the use of sulfur hexafluoride (SF6), a potent greenhouse gas commonly employed for arc quenching and insulation. This advancement not only helps reduce environmental impact but also improves operational reliability and supports smart electrical infrastructure development.
For example, in October 2024, Schneider Electric SE introduced the Ringmaster AirSeT, a cutting-edge medium-voltage switchgear that replaces SF6 gas with pure air and vacuum interruption technology. This product matches traditional SF6-based systems in performance and compactness while generating zero environmental impact. It also integrates digital connectivity features for condition monitoring, remote control, and predictive maintenance, helping utilities and industries achieve sustainability and grid modernization objectives.
Detailed Segmentation of the Switchgear Market
The switchgear market is organized into several categories to provide a clear understanding of its structure. The segmentation includes:
1) Product Type:
- High Voltage
- Medium Voltage
- Low Voltage
2) Insulation Type:
- Gas Insulated Switchgear (GIS)
- Air Insulated Switchgear (AIS)
- Other Insulations
3) Installation Environment:
- Indoor
- Outdoor
4) End-User Segments:
- Residential
- Commercial
- Industrial
- Utilities
Further breakdowns include:
- High Voltage: Gas-Insulated Switchgear (GIS), Air-Insulated Switchgear (AIS), Hybrid Switchgear, Circuit Breakers and Disconnectors for High Voltage
- Medium Voltage: Metal-Enclosed Switchgear, Outdoor Switchgear, Ring Main Units (RMUs), Vacuum Circuit Breakers
- Low Voltage: Molded Case Circuit Breakers (MCCB), Miniature Circuit Breakers (MCB), Switchboards and Panelboards, Distribution Boards and Fuse Boards
These subdivisions help clarify the wide range of switchgear products and their applications across different sectors, supporting the ongoing growth and innovation in the market.
Reach out to us:
The Business Research Company: https://www.thebusinessresearchcompany.com/,
Americas +1 310-496-7795,
Europe +44 7882 955267,
Asia & Others +44 7882 955267 & +91 8897263534,
Email us at info@tbrc.info.
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Segmentation, Major Trends, and Competitive Overview of the Switchgear Market here
News-ID: 4377923 • Views: …
More Releases from The Business Research Company
Key Strategic Developments and Emerging Changes Shaping the Tank Level Monitorin …
The tank level monitoring system market is on track for remarkable growth as industries increasingly seek smarter and more efficient fluid management solutions. With advancements in technology and rising demand for automation, this sector is set to expand significantly over the coming years. The following analysis delves into the market size, key players, emerging trends, and detailed segments shaping this evolving industry.
Forecasted Market Value and Growth of the Tank Level…
Key Players and Competitive Dynamics in the Surface Vision and Inspection Market
The surface vision and inspection sector is poised for significant expansion as industries increasingly rely on advanced technologies to ensure product quality and precision. This market is set to evolve rapidly, driven by innovations in AI and automation that enhance inspection capabilities across various applications. Let's explore the current market size, key players, emerging trends, and segmentation details shaping this dynamic field.
Projected Growth and Market Size of the Surface Vision…
Trends in Growth, Segment Analysis, and Competitive Strategies Influencing the S …
The surface acoustic wave (SAW) market is poised for significant expansion as technological advancements and increasing applications drive demand. With rising adoption across various industries, the market is set to experience notable growth through 2030. Let's explore the current market size, key players, emerging trends, and the primary segments shaping its future.
Projected Growth and Size of the Surface Acoustic Wave Market
The surface acoustic wave market is anticipated to grow…
Leading Companies Spearheading Innovation and Growth in the Video Door Phones Ma …
The video door phones market is on track for remarkable expansion in the coming years, driven by rapid technological advances and increasing integration in smart building systems. As smart home and security solutions gain popularity, this sector is poised to experience substantial growth and innovation. Let's explore the market's size projections, key players, emerging trends, and segmentation details to understand what lies ahead.
Projected Market Growth for Video Door Phones by…
More Releases for Switchgear
Switchgear and Switchboard Apparatus Global Market: Expanding Partnerships and D …
Projected Market Size and Growth of the Global Switchgear and Switchboard Apparatus Market by 2025?
• The switchgear and switchboard apparatus market size grew from $179.97 billion in 2024 to $190.44 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.8%.
• The market is expected to surge to a value of $228.43 billion in 2029, growing at a CAGR of 4.7% during this five-year period.
• The market's growth has…
Switchgear: Working, Characters, and Classification
Electrical switchgear is used in both high and low-voltage power transformers and is connected to electrical supply networks. Its goal is to de-energize the system so that maintenance and repairs may be made to fix the problems.
Every time a power system flaw, such as a short circuit, a large number of current flows via electric setup, destroying the structure and disrupting supply to the consumers. The best possible electrical protection…
Global Medium Switchgear Market | Global Medium Switchgear Industry | Medium Swi …
Medium voltage switchgear market comprises of sales of medium voltage switchgear & related services that manufacture the medium voltage switchgear which are electrical switchgear rated between 2KV and 36KV. Medium voltage switchgear is a combination of electrical switches, fuses/circuit breakers used to function, secure and separate electrical equipment. It is used for providing protection to different electric motor control systems that installed in different end user segments.
According to study,…
Switchgear Market in India 2011
Market Research Report Store offers a latest published report on Switchgear Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. This report focuses on the key global Switchgear players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Switchgear with respect to individual growth trends, future…
Medium Voltage Switchgear Market
Attributable to the nearness of worldwide and provincial merchants, this market is divided. They sellers in the market are contending based particle the cost, item offering and dispatch of new item in the market. The expansive firms in the market are having significant offer because of variables, for example, item plan, quality, turnaround time, administrations offered, highlights of the item, and upkeep of client connections. Major organizations in the worldwide…
Global Low Voltage Switchgear Market 2017 : BARTEC, LUCY Switchgear, FEAG, Kohl, …
Low Voltage Switchgear
A market study based on the " Low Voltage Switchgear Market " across the globe, recently added to the repository of Market Research, is titled ‘Global Low Voltage Switchgear Market 2017’. The research report analyses the historical as well as present performance of the worldwide Low Voltage Switchgear industry, and makes predictions on the future status of Low Voltage Switchgear market on the basis of this analysis.
Get Free…
