Home > Energy & Power > Electrical Equipment > Switchgears > Asia Pacific Switchgear Market

Asia Pacific Switchgear Market Size

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

Download Free Sample

Asia Pacific Switchgear Market Size

The global Asia Pacific switchgear market was valued at USD 61.1 billion in 2024 and is estimated to grow at a CAGR of 6.5% from 2025 to 2034, due to rising urbanization, industrialization, and expanding power infrastructure. Rapid economic development in countries like China, India, and Japan is driving the demand for reliable and efficient energy distribution systems. Government initiatives focused on upgrading aging power grids, coupled with increased investments in renewable energy projects, are key factors boosting market expansion.

To get key market trends

Download Free Sample

Additionally, the adoption of smart grids and advanced digital switchgear technologies, which offer enhanced monitoring and automation capabilities, is gaining momentum. Industrial and commercial sectors are increasingly deploying medium and high-voltage switchgear to support growing energy needs. Furthermore, favorable regulatory frameworks promoting sustainable energy solutions and the rising trend of electrification in rural areas are supporting the market's upward trajectory. Overall, the market is expected to grow significantly, driven by technological advancements and strong demand across diverse end-use sectors.

Asia Pacific Switchgear Market Report Attributes
Report Attribute	Details
Base Year:	2024
Asia Pacific Switchgear Market Size in 2024:	USD 61.1 Billion
Forecast Period:	2025 - 2034
Forecast Period 2025 - 2034 CAGR:	6.5%
2034 Value Projection:	USD 115.6 Billion
Historical Data for:	2021 - 2024
No. of Pages:	100
Tables, Charts & Figures:	20
Segments covered:	Voltage, Insulation, Current, Application
Growth Drivers:	Rising demand for electricity Growing renewable energy integration
Pitfalls & Challenges:	Low dependency on imports

Learn more about the key segments shaping this market

Download Free Sample

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.