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Low Voltage Industrial Switchgear Market Share

Report ID: GMI12458
Published Date: Nov 2024
Report Format: PDF

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Low Voltage Industrial Switchgear Market Share

Global Low Voltage Industrial Switchgear Company Market Share Analysis, 2024

Industry leaders such as ABB and Siemens maintain dominance in the low voltage industrial switchgear industry due to their technological expertise, innovative products, and vast global presence. These companies offer advanced solutions, including digital substations, which enhance real-time monitoring, boost automation, and facilitate predictive maintenance—critical components for ensuring grid stability and operational efficiency. Their strong research and development capabilities allow them to continuously provide state-of-the-art solutions that support the integration of renewable energy and the progression of smart grid initiatives.

Low Voltage Industrial Switchgear Market Companies

Major players operating in the low voltage 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 market for low voltage industrial switchgear was reached USD 3.9 billion in 2024 and is estimated to grow at a 5.1% CAGR from 2025 to 2034, driven by rising industrialization and modernization of electrical infrastructure.

The AC segment in the low voltage industrial switchgear market is anticipated to exceed USD 5.4 billion by 2034, influenced by advancements in digital technologies and increased investments in infrastructure.

The vacuum insulation segment is expected to achieve a CAGR of over 5.5% through 2034, as it offers superior dielectric strength and quick arc extinction.

The U.S. low voltage industrial switchgear market is projected to surpass USD 460.6 million by 2034, led by the growing demand for reliable and efficient power distribution systems in various industries.

Major players in the low voltage 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.