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Europe Medium Voltage Switchgear Market Size

Report ID: GMI7335
Published Date: Dec 2024
Report Format: PDF

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Europe Medium Voltage Switchgear Market Size

The Europe medium voltage switchgear market was valued at USD 14.1 billion in 2024 and is estimated to grow at a CAGR 7% from 2025 to 2034, due to increasing investments in infrastructure and renewable energy sources, pushing the demand for reliable medium voltage switchgear to manage power distribution efficiently. Governments across Europe are focusing on enhancing energy efficiency, implementing smart grid technologies, and promoting green energy solutions, which further boosts market expansion. The rise in electrification and the need for grid modernization in both urban and rural areas contribute significantly to the market growth.

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Additionally, industrial sectors such as manufacturing, utilities, and commercial establishments are increasingly adopting medium voltage switchgear to ensure safety and manage power distribution. Technological advancements, such as the integration of digital and automation technologies, are also enhancing the performance and reliability of medium voltage switchgear. Furthermore, the push for decarbonization and the expansion of electric vehicle charging infrastructure are expected to provide further growth opportunities for the market.

Europe Medium Voltage Switchgear Market Report Attributes
Report Attribute	Details
Base Year:	2024
Europe Medium Voltage Switchgear Market Size in 2024:	USD 14.1 Billion
Forecast Period:	2025 to 2034
Forecast Period 2025 to 2034 CAGR:	7%
2034 Value Projection:	USD 28 Billion
Historical Data for:	2021 – 2024
No. of Pages:	100
Tables, Charts & Figures:	20
Segments covered:	Voltage, Component, Insulation, End Use, Application,
Growth Drivers:	Rising demand for electricity Growing renewable energy integration
Pitfalls & Challenges:	Low dependency on imports

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Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The European market for medium voltage switchgear was reached USD 14.1 billion in 2024 and is projected to grow at a 7% CAGR from 2025 to 2034, driven by increasing investments in infrastructure and renewable energy sources.

The ≥ 15 kV to < 21 kV voltage segment is expected to surpass USD 5.5 billion by 2034, as these voltage levels are optimal for connecting grid components and integrating renewable energy sources efficiently.

The contactors segment is anticipated to achieve a CAGR of over 7.8% through 2034, led by the adoption of automation technologies in industries and utilities, which increases the demand for reliable switching devices.

The Russia medium voltage switchgear market is likely to exceed USD 3.3 billion by 2034, supported by significant investments in modernizing aging power grid infrastructure to meet rising demand and improve reliability.

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.