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AC Commercial Switchgear Market Size

Report ID: GMI12002
Published Date: Oct 2024
Report Format: PDF

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AC Commercial Switchgear Market Size

The global AC commercial switchgear market was valued at USD 14.8 billion in 2023 and is estimated to grow at a CAGR of 7.3% from 2024 to 2032, driven by the global demand for efficient energy management systems in commercial buildings, data centres, and industrial complexes. Increasing urbanization, rising energy demands, and the need to upgrade aging electrical infrastructure contribute significantly to growth. The market is also experiencing innovation with digital switchgear that offers remote monitoring, predictive maintenance, and enhanced safety features, aligning with the trend toward smart, connected systems.

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Furthermore, the integration of renewable energy sources into commercial power grids necessitates advanced switchgear capable of managing fluctuating loads and supporting grid stability. Regulatory frameworks promoting energy efficiency and electrical safety standards also bolster market demand. Regionally, the Asia Pacific and North American markets are seeing notable growth due to urban development and industrial expansion, positioning these regions as leaders in the AC commercial switchgear sector's growth trajectory.

AC Commercial Switchgear Market Report Attributes
Report Attribute	Details
Base Year:	2023
AC Commercial Switchgear Market Size in 2023:	USD 14.8 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	7.3%
2032 Value Projection:	USD 28 Billion
Historical Data for:	2021 - 2023
No. of Pages:	100
Tables, Charts & Figures:	20
Segments covered:	Voltage, Insulation
Growth Drivers:	Expansion of smart grid networks Rising peak load demands
Pitfalls & Challenges:	High dependency on imports

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Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The global market for AC commercial switchgear was reached USD 14.8 billion in 2023 and is estimated to grow at a 7.3% CAGR from 2024 to 2032, driven by the global demand for efficient energy management systems in commercial buildings, data centers, and industrial complexes.

The low voltage segment is anticipated to surpass USD 14.7 billion by 2032, due to increasing demand for efficient power distribution systems in commercial buildings and facilities.

The air insulation segment is projected to witness more than 7.7% CAGR through 2032, owing to its cost-effectiveness, safety benefits, and environmental compatibility.

The U.S. AC commercial switchgear market is predicted to hit USD 2.3 billion by 2032, fueled by increased investment in infrastructure modernization, especially in commercial buildings, data centers, and healthcare facilities.

Major players operating in the AC commercial switchgear industry include ABB, CG Power, Eaton, Efacec, General Electric, Hitachi Energy, L&T Electrical and Automation, Locamation, Open System International, Rockwell Automation, Schneider Electric, Siemens, Tesco Automation, and Texas Instruments.