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Asia Pacific Switchgear Market Share

Report ID: GMI6637
Published Date: Dec 2024
Report Format: PDF

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Asia Pacific Switchgear Market Share

Asia Pacific Switchgear Company Market Share Analysis, 2024

Leading companies like ABB and Siemens maintain dominance in the switchgear market through their technological expertise, diverse product portfolios, and extensive global reach. They provide innovative solutions, such as digital substations, which enhance real-time monitoring, improve automation, and enable predictive maintenance—key elements for ensuring grid stability and optimizing performance. By consistently investing in research and development, these industry leaders introduce cutting-edge technologies that support the integration of renewable energy and accelerate the adoption of smart grid solutions.

Asia Pacific Switchgear Market Companies

Major players operating in the Asia Pacific switchgear industry are:

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

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The Asia Pacific market for switchgear was reached USD 61.1 billion in 2024 and is projected to grow at a 6.5% CAGR from 2025 to 2034, driven by rising urbanization, industrialization, and expanding power infrastructure.

The low voltage segment is expected to surpass USD 70.1 billion by 2034, fueled by the rapid expansion of commercial and industrial infrastructure and increasing urbanization across the region.

The vacuum-insulated switchgear segment is projected to grow at a CAGR of over 6.1% through 2034, owing to its superior safety, reliability, and eco-friendly characteristics, along with its ability to support renewable energy projects.

The China switchgear market is anticipated to exceed USD 35.1 billion by 2034, led by investments in power grid modernization, urban infrastructure development, and renewable energy expansion.

Key players in the market include ABB, Bharat Heavy Electricals, CG Power and Industrial Solutions, E + I Engineering, Eaton, Fuji Electric, General Electric, HD Hyundai Electric, Hitachi, Lucy Group, Mitsubishi Electric, Ormazabal, Schneider Electric, Siemens, Skema, and Toshiba.