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Commercial Switchgear Market Analysis

  • Report ID: GMI10651
  • Published Date: Nov 2024
  • Report Format: PDF

Commercial Switchgear Market Analysis

Based on voltage, low voltage segments will cross USD 20 billion by 2034, due to a rising demand for efficient power distribution solutions in urban and industrial environments. This growth is largely attributed to an increase in the construction of commercial facilities, such as office buildings, data centers, shopping complexes, and hospitals, where low-voltage systems are essential for managing and distributing electricity safely and efficiently.
 

Commercial Switchgear Market Share, By Current, 2024

Based on current, the AC segment is projected to achieve a CAGR of over 6.3% through 2034, on account of expanding demand for reliable power distribution systems across commercial sectors. This trend is fueled by an increase in commercial construction and infrastructure projects, especially in urban areas and developing regions, were alternating current (AC) systems are widely used due to their efficiency in transmitting electricity over longer distances.
 

U.S. Commercial Switchgear Market Size, 2022 - 2034,  (USD Billion)

The U.S. commercial switchgear market is estimated to surpass USD 3 billon by 2034, on account of country's increasing investment in infrastructure modernization and a growing emphasis on energy-efficient solutions. The need to upgrade aging electrical infrastructure across commercial buildings, especially in sectors like healthcare, retail, data centres, and office spaces, is a significant factor propelling this market growth. With many existing facilities requiring updated switchgear to improve reliability, safety, and energy management, demand for advanced switchgear solutions is rising.
 

Asia Pacific is experiencing massive urbanization and commercial development, leading to increased demand for reliable energy distribution in cities. The construction of office buildings, shopping complexes, hospitals, and data centres is soaring, and switchgear plays a critical role in distributing electricity safely and efficiently across these infrastructures. Urban areas require compact, high-capacity switchgear solutions to manage limited space and ensure uninterrupted power.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The global market for commercial switchgear was reached USD 18.7 billion in 2024 and is estimated to grow at a 6.3% CAGR from 2025 to 2034, driven by rising urbanization and increased demand for reliable power distribution.

The low voltage segment is projected to exceed USD 20 billion by 2034, due to the rising demand for efficient power distribution solutions in urban and industrial environments.

The AC segment is expected to achieve a CAGR of over 6.3% through 2034, fueled by expanding demand for reliable power distribution systems across commercial sectors.

The U.S. commercial switchgear market is estimated to surpass USD 3 billion by 2034, driven by increasing investment in infrastructure modernization and a growing emphasis on energy-efficient solutions.

Key players in the commercial 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.

Commercial Switchgear Market Scope

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Premium Report Details

  • Base Year: 2024
  • Companies covered: 17
  • Tables & Figures: 20
  • Countries covered: 21
  • Pages: 100
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