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DC Switchgear Market Size

Report ID: GMI5963
Published Date: Nov 2024
Report Format: PDF

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DC Switchgear Market Size

The global DC switchgear market was valued at USD 20 Billion in 2024 and is set to grow at a CAGR 8.3% from 2025 to 2034 due to rising adoption of electric vehicles (EVs) has spurred investments in EV charging infrastructure, which requires reliable DC power distribution, fueling demand for DC switchgear. Additionally, the expansion of renewable energy projects, such as solar and wind farms, necessitates efficient DC distribution systems to handle fluctuating power output. Urbanization and the development of smart grids are further accelerating market growth as utility companies seek to modernize infrastructure with advanced energy management solutions.

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Innovations in power electronics, such as solid-state switchgear, are also enhancing system efficiency and reliability. The market is benefiting from regulatory support and initiatives promoting low-carbon technologies. Asia Pacific and North America are key regions driving this expansion due to significant investments in renewable energy and infrastructure modernization projects.

DC Switchgear Market Report Attributes
Report Attribute	Details
Base Year:	2024
DC Switchgear Market Size in 2024:	USD 20 Billion
Forecast Period:	2025 - 2034
Forecast Period 2025 - 2034 CAGR:	8.3%
2034 Value Projection:	USD 44.5 Billion
Historical Data for:	2021 - 2024
No. of Pages:	100
Tables, Charts & Figures:	20
Segments covered:	Voltage, Mounting, Insulation, Application
Growth Drivers:	Rising Demand for Electricity Growing Renewable Energy Integration
Pitfalls & Challenges:	High dependency on imports

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Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The global market for DC switchgear was reached USD 20 billion in 2024 and is set to grow at a CAGR of 8.3% from 2025 to 2034, driven by the rising adoption of electric vehicles (EVs) and investments in EV charging infrastructure.

The <750 V segment is projected to surpass USD 25.2 billion by 2034, due to the increasing deployment of renewable energy systems and the expansion of EV infrastructure.

The AC segment is expected to achieve a CAGR of over 7.7% through 2034, led by the widespread expansion of infrastructure and industrial projects requiring efficient energy management systems.

The U.S. DC switchgear market is projected to surpass USD 4.1 billion by 2034, fueled by increasing investments in renewable energy projects and the rapid development of EV infrastructure.

Key players in the DC 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.