The global Switchgear Market is poised for steady growth, with its size projected to rise from USD 129.70 billion in 2025 to USD 174.38 billion by 2030, according to a recent market analysis by Mordor Intelligence. The market is expected to expand at a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2025 to 2030.
What Is Driving the Market?
Switchgear plays a vital role in the management, protection, and isolation of electrical equipment in power systems. With increasing electricity demand, urbanization, and the shift to cleaner energy sources, the need for reliable and intelligent switchgear solutions is more critical than ever.
Key Growth Drivers:
• 🔌 Modernization of Power Infrastructure: Governments and utilities across the globe are investing in the upgrade of aging electrical infrastructure and the adoption of smart grid technologies.
• ☀️ Renewable Energy Integration: As the share of solar and wind energy increases, advanced switchgear systems are essential to ensure grid stability and handle fluctuating power inputs.
• 🏙️ Urbanization & Industrial Growth: Rapid development in Asia-Pacific and other emerging markets is creating strong demand for low- and medium-voltage switchgear in residential, commercial, and industrial projects.
• 🧪 Technological Innovation: The emergence of gas-insulated switchgear (GIS), digital switchgear, and IoT-enabled monitoring systems is transforming the landscape of energy distribution.
Market Segmentation Highlights
• Voltage Levels: The low-voltage switchgear segment continues to dominate due to its wide application in residential and commercial buildings, while medium- and high-voltage segments are growing in industrial and utility-scale projects.
• Insulation Type: Gas-insulated switchgear (GIS) is gaining traction, particularly in compact urban environments, due to its space-saving and low-maintenance features. Air-insulated switchgear (AIS) remains common in rural and outdoor installations.
• End-Use Industries: Key demand comes from utilities, industrial automation, transportation, infrastructure, and renewable energy sectors.
Regional Outlook
• 🌏 Asia-Pacific leads the market, driven by infrastructure development in China, India, and Southeast Asia, where electricity demand is soaring.
• 🌍 Europe focuses on decarbonization and energy transition, pushing the deployment of advanced and smart switchgear solutions.
• 🌎 North America continues to invest in grid resilience and modernization, especially in response to extreme weather events and renewable integration.
Top Players in the Market
The switchgear industry is marked by strong competition among established multinational players. Key market leaders include:
• ABB Ltd.
• Siemens AG
• Schneider Electric
• Mitsubishi Electric Corporation
• Eaton Corporation
• Larsen & Toubro
• Havells India Ltd.

These companies are focusing on expanding product portfolios, digitizing power systems, and entering strategic partnerships to enhance global market presence.
Conclusion
The switchgear market is entering a dynamic phase of transformation, propelled by energy transition goals, digital technologies, and the global push for infrastructure modernization. With a projected market value of USD 174.38 billion by 2030, the sector presents strong opportunities for innovation, investment, and long-term growth.

For more in-depth analysis and insights, refer to Mordor Intelligence’s complete report on the Global Switchgear Market.

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