Global Switchgear Market Size & Outlook, 2025-2030
The global switchgear market size was estimated at USD 107.3 million in 2024 and is projected to reach USD 160.1 million by 2030, growing at a CAGR of 7.2% from 2025 to 2030.
Revenue, 2024 (US$M)
$107.3
Forecast, 2030 (US$M)
$160.1
CAGR, 2025 - 2030
7.2%
Report Coverage
Worldwide
Global switchgear market, 2018-2030 (US$M)
Global switchgear market highlights
- The global switchgear market generated a revenue of USD 107.3 million in 2024 and is expected to reach USD 160.1 million by 2030.
- The market is expected to grow at a CAGR (2025 - 2030) of 7.2% by 2030.
- In terms of segment, low (upto 1kv) accounted for a revenue of USD 113.0 million in 2024.
- Low (upto 1Kv) is the most lucrative voltage type segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2024.
Global data book summary
| Market revenue in 2024 | USD 107.3 million |
| Market revenue in 2030 | USD 160.1 million |
| Growth rate | 7.2% (CAGR from 2025 to 2030) |
| Largest segment | Low (upto 1kv) |
| Fastest growing segment | Low (upto 1Kv) |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Low (upto 1Kv) |
Other key industry trends
- In terms of revenue, the North America accounted for 35.3% of the global switchgear market in 2024.
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Switchgear Market Scope
Switchgear market segmentation & scope
Insulation
Gas
Air
Others
Installation
Indoor
Outdoor
End Use
T&D Utility
Industrial
Commercial & Residential
Countries
U.S.
Canada
Mexico
Germany
UK
France
Italy
Spain
Denmark
Sweden
Norway
China
Japan
India
South Korea
Australia
Thailand
Brazil
Argentina
South Africa
Saudi Arabia
UAE
Kuwait
Switchgear Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Bharat Heavy Electricals | View profile | 10001+ | New Delhi, Delhi, India, Asia | http://www.bhel.com |
| Powell Industries Inc | View profile | 2363 | 8550 Mosley Road, Houston, TX, United States, 77075-1180 | https://www.powellind.com |
| NR Electric USA | View profile | 1001-5000 | Nanjing, Jiangsu, China, Asia | https://www.nrelect.com |
| Areva | View profile | 10001+ | Courbevoie, Ile-de-France, France, Europe | https://www.sa.areva.com |
| Crompton Greaves Consumer Electricals | View profile | 1001-5000 | Mumbai, Maharashtra, India, Asia | https://www.crompton.co.in/ |
| Alstom SA | View profile | 84748 | 48, Rue Albert Dhalenne, Saint-Ouen-sur-Seine, Paris, France, 93400 | https://www.alstom.com |
| Larsen & Toubro Ltd DR | View profile | 330955 | Norottarn Morarjee Marg , L&T House, Ballard Estate, P. O. Box: 278, Mumbai, MH, India, 400 001 | https://www.larsentoubro.com |
| Legrand SA | View profile | 33910 | 128, Avenue de Lattre de Tassigny, Cedex, Limoges, France, 87045 | https://www.legrand.com |
| Eaton Corp PLC | View profile | 94000 | 30 Pembroke Road, Eaton House, Dublin, Ireland, D04 Y0C2 | https://www.eaton.com |
| GE Aerospace | View profile | 125000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | https://www.geaerospace.com |
| ABB Ltd | View profile | 108700 | Affolternstrasse 44, Zurich, Switzerland, 8050 | https://www.abb.com |
| Mitsubishi Electric Corp | View profile | 149134 | Tokyo Building, 2-7-3, Marunouchi, Chiyoda-ku, Tokyo, Japan, 100-8310 | https://www.mitsubishielectric.com |
| Hitachi Ltd | View profile | 322525 | 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan, 100-8280 | http://www.hitachi.com |
Global switchgear market report size, by regions, 2018-2030 (US$M)
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