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Asia Pacific Switchgear Market Share

Report ID: GMI6637
Published Date: Sep 2023
Report Format: PDF

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Asia Pacific Switchgear Market Share

Some of the major business players operating across the Asia Pacific switchgear market are:

ABB
Siemens
GE
Mitsubishi Electric Corporation
Schneider Electric
Ormazabal
Bharat Heavy Electricals Limited
CG Power and Industrial Solutions Limited
Chint Group
Eaton
Hyosung Heavy Industries
Lucy Group Ltd
HD HYUNDAI ELECTRIC CO., LTD
Toshiba Corporation
Powell Industries
Fuji Electric Co., Ltd
Hitachi Ltd

These players focus on new product launch & commercialization and strategic partnerships for market expansion. Furthermore, these players are increasingly investing in research & development activities, which enable them to introduce innovative products and garner maximum revenue in the market.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

Asia Pacific switchgear market size reached USD 56.9 billion in 2023 and may register 6.8% CAGR from 2024 to 2032 due to the growing investments towards advanced, adaptable, and secure power distribution technologies in the region.

Asia Pacific market size for switchgear from the low voltage segment surpassed USD 31.6 billion in 2022 and may record appreciable growth by 2032 owing to wide range of regulatory mandates and guidelines aimed at standardizing products in the region.

China recorded over 32% share of the switchgear market in 2022 due to rapid urbanization and industrialization in the nation.

Some of the influential switchgear firms in APAC include ABB, Siemens, GE, Mitsubishi Electric Corporation, Schneider Electric, Ormazabal, Bharat Heavy Electricals Limited, CG Power and Industrial Solutions Limited, Chint Group, Eaton, among others.