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DC Switchgear Market Trends

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

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DC Switchgear Market Trends

The push for renewable energy integration has become a major driver, as large-scale solar and wind projects necessitate efficient DC distribution systems to manage fluctuating energy generation. This trend is bolstered by government policies promoting clean energy and investments in grid modernization to support renewable sources, which are fuelling the demand for advanced DC switchgear. Electric vehicles (EVs) and the associated charging infrastructure represent another significant trend impacting the market. As the adoption of EVs accelerates, the need for reliable, high-capacity DC switchgear to manage charging networks and support grid stability is increasing.

Many automotive and infrastructure companies are investing in DC fast-charging stations, which require robust DC switchgear solutions. Furthermore, the transition towards electrified public transportation systems in urban areas is contributing to market expansion. The rise of microgrids and energy storage systems is also playing a crucial role in shaping the DC Switchgear market. Microgrids, which can operate independently from the traditional grid and utilize renewable energy sources, often use DC distribution to enhance efficiency and reliability. Energy storage systems, particularly those using lithium-ion batteries, require DC switchgear to ensure safe and efficient power flow, adding to the growing market demand.

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.