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AC Industrial Switchgear Market Share

Report ID: GMI12023
Published Date: Oct 2024
Report Format: PDF

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AC Industrial Switchgear Market Share

The Asia Pacific region is pivotal to the AC industrial switchgear industry, driven by swift industrialization, urban growth, and significant infrastructure investments. Countries like China, India, Japan, and South Korea are scaling up industrial capacity across manufacturing, construction, and energy sectors, requiring dependable power distribution solutions to manage increasing electrical demands and maintain efficient operations.

AC Industrial Switchgear Market Companies

Major players operating in the AC industrial switchgear industry are:

ABB
Bharat Heavy Electricals
CG Power and Industrial Solutions
E + I Engineering
Eaton
Fuji Electric
General Electric
HD Hyundai Electric
Hitachi
Hyosung Heavy Industries
Lucy Group
Mitsubishi Electric
Ormazabal
Schneider Electric
Siemens
Skema
Toshiba

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of AC industrial switchgear reached USD 25.3 billion in 2023 and is estimated to grow at a 7% CAGR from 2024 to 2032, driven by increasing industrialization and electrification.

The air insulation segment is projected to witness a 7.2% CAGR through 2032, owing to its environmental sustainability, cost-effectiveness, and safety advantages.

The U.S. market is anticipated to surpass USD 4.2 billion by 2032, led by the increasing demand for reliable power distribution systems and the modernization of industrial infrastructure.

The key players in the industry include ABB, Bharat Heavy Electricals, CG Power and Industrial Solutions, E + I Engineering, Eaton, Fuji Electric, General Electric, HD Hyundai Electric, Hitachi, Hyosung Heavy Industries.