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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
What is the growth rate of the air insulation segment in the AC industrial switchgear industry?
The air insulation segment is projected to witness a 7.2% CAGR through 2032, owing to its environmental sustainability, cost-effectiveness, and safety advantages.
How big is the AC industrial switchgear market?
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.
How much is the U.S. AC industrial switchgear market worth?
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.
Who are the major players in the AC industrial switchgear industry?
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.