Global Switchgear Market Size & Outlook, 2023-2030
The switchgear industry worldwide is expected to reach a projected revenue of US$ 160.1 million by 2030. A compound annual growth rate of 6.6% is expected of the worldwide switchgear industry from 2024 to 2030.
Revenue, 2023 (US$M)
$102.4
Forecast, 2030 (US$M)
$160.1
CAGR, 2024 - 2030
6.6%
Report Coverage
Worldwide
Global switchgear market, 2018-2030 (US$M)
Global switchgear market highlights
- An overview of the global switchgear market trends heading towards 2030. The global market generated a revenue of USD 102.4 million in 2023 and is expected to reach USD 160.1 million by 2030.
- The overall growth of the global market from 2023 to 2030. The market is expected to grow at a CAGR (2024 - 2030) of 6.6% to attain a revenue of USD 160.1 million by 2030.
- A look at the global market revenues per segment in 2023. In terms of segment, low (upto 1kv) accounted for a revenue of USD 102.4 million in 2023.
- The segment witnessing the fastest revenue growth within the market. Low (upto 1Kv) is the most lucrative voltage type segment registering the fastest growth during the forecast period.
- An overview of global market per region and country. In terms of region, North America was the largest revenue generating market in 2023.
Global data book summary
| Market revenue in 2023 | USD 102.4 million |
| Market revenue in 2030 | USD 160.1 million |
| Growth rate | 6.6% (CAGR from 2023 to 2030) |
| Largest segment | Low (upto 1kv) |
| Fastest growing segment | Low (upto 1Kv) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 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 2023.
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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 |
|---|
Global switchgear market report size, by regions, 2018-2030 (US$M)
Related industry reports
Related regional statistics
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