Home > Energy & Power > Electrical Equipment > Switchgears > DC Switchgear Market

DC Switchgear Market Trends

Report ID: GMI5963
Published Date: Jun 2023
Report Format: PDF

Download Free Sample

DC Switchgear Voltage Trends

The < 750 V voltage rated DC switchgear market is anticipated to witness a growth rate of over 9% up to 2032. These units are commonly used in residential, commercial, and industrial applications. It plays a crucial role in renewable energy systems, energy storage systems, and DC distribution networks. The industry is predicted to grow due to the increasing adoption of renewable energy sources and the electrification of various sectors. Additionally, manufacturers are developing more efficient switchgear solutions that minimize power losses and optimize energy usage. Energy-efficient DC switchgear helps reduce operational costs and supports sustainability initiatives in various industries.

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of DC switchgear was worth over USD 18.5 billion in 2023 and is projected witness 8.8% CAGR from 2024 to 2032 due to the increasing adoption of distributed generation and smart grid networks.

The < 750 V voltage rated DC switchgear market share will observe gains at nearly 9% through 2032 owing to rising application in residential, commercial, and industrial sectors.

Demand for power generation-based DC switchgear market will exceed USD 13 billion by 2032 due to the increasing need for managing the generation, conversion, and distribution of DC power.

Asia Pacific market for DC switchgear size reached over 2 billion units in terms of annual installation in 2022 due to significant infrastructure development, including smart cities, industrial parks, and transportation networks.