Home > Energy & Power > Electrical Equipment > Substation > AC Commercial Switchgear Market

AC Commercial Switchgear Market Trends

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

Download Free Sample

AC Commercial Switchgear Market Trends

The shift towards digital switchgear systems is transforming the commercial switchgear landscape. Digital switchgear incorporates sensors, IoT connectivity, and advanced monitoring software, enabling real-time data analysis and predictive maintenance. This enhances system reliability, prevents downtime, and reduces maintenance costs. The smart capabilities also allow for remote monitoring and diagnostics, which is especially useful for large commercial buildings and facilities with distributed assets. As energy efficiency becomes a top priority in commercial sectors, switchgear manufacturers are introducing solutions that minimize energy losses and optimize power distribution.

Advanced AC switchgear can manage loads more effectively, reducing waste and improving overall efficiency. Regulatory standards aimed at enhancing energy efficiency and reducing greenhouse gas emissions also encourage commercial sectors to upgrade to energy-efficient switchgear solutions, accelerating market growth. The global focus on renewable energy integration is influencing the design and capabilities of commercial switchgear. With commercial buildings increasingly adopting solar and wind energy systems, there is a rising demand for switchgear that can handle renewable energy inputs while ensuring grid stability. AC commercial switchgear is being adapted to accommodate these variable power sources, ensuring seamless integration and efficient energy flow within commercial power systems.

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.