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AC Switchgear Market Share

Report ID: GMI6966
Published Date: Nov 2024
Report Format: PDF

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AC Switchgear Market Share

Companies like Hitachi, ABB, and Siemens hold a substantial share of the AC switchgear industry due to their advanced technological expertise, diverse product portfolios, and extensive global reach. These industry leaders invest heavily in research and development, driving innovations in smart and digital switchgear solutions that enhance grid reliability and efficiency.

AC Switchgear Market Companies

Major players operating in the AC 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 global market for AC switchgear was reached USD 136.4 billion in 2024 and is estimated to grow at a 7% CAGR from 2025 to 2034, driven by increasing investments in power infrastructure and rapid urbanization.

The low voltage segment is projected to surpass USD 154.4 billion by 2034, due to the increasing demand for energy-efficient solutions across residential, commercial, and industrial sectors.

The vacuum insulation segment is expected to achieve a CAGR of over 6.6% through 2034, owing to its superior arc-extinguishing capabilities and compliance with stricter environmental regulations.

The U.S. AC switchgear market is set to cross USD 31 billion by 2034, led by extensive investments in upgrading and modernizing the country

Key players in the AC switchgear 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, Lucy Group, Mitsubishi Electric, Ormazabal, Schneider Electric, Siemens, Skema, and Toshiba.