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Industrial Switchgear Market Share

Report ID: GMI10542
Published Date: Nov 2024
Report Format: PDF

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Industrial Switchgear Market Share

Leading companies like Hitachi and General Electric are driving the industrial switchgear industry, capitalizing on their vast industry experience, innovative technological solutions, and extensive global presence. These industry giants provide advanced products, including digital substations, which facilitate real-time monitoring, improved automation, and predictive maintenance—key features that enhance grid stability and optimize operational efficiency.

Industrial Switchgear Market Companies

Major players operating in the industrial switchgear industry are:

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
Toshiba

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The global industrial switchgear market was valued at USD 31.3 billion in 2024 and is estimated to grow at a 6% CAGR from 2025 to 2034, driven by the rising demand for efficient electrical infrastructure and rapid industrialization globally.

The high voltage segment in the industrial switchgear market is anticipated to surpass USD 31.7 billion by 2034, due to the growing emphasis on large-scale infrastructure projects and industrialization.

The AC segment in the industrial switchgear market is projected to achieve a CAGR of over 5.8% by 2034, led by the growing demand for alternating current (AC) systems in industrial and commercial applications.

The U.S. industrial switchgear market is projected to surpass USD 4.2 billion by 2034, due to the increasing demand for reliable and advanced electrical infrastructure to support industrial growth and modernization.

Major players in the industrial switchgear market 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.