Medium Voltage Switchgear Market Size - By Voltage (≥ 3 kV to < 9 kV, ≥ 9 kV to < 15 kV, ≥ 15 kV to < 21 kV, ≥ 21 kV to < 27 kV, ≥ 27 kV to < 33 kV, ≥ 33 kV), By Component, By Insulation, By End Use, By Application & Forecast, 2024 - 2032

Medium Voltage Switchgear Market Size

Medium Voltage Switchgear Market was valued at USD 49 billion in 2023 and is projected to expand at a CAGR of 7.1% from 2024 to 2032, driven by increasing urbanization and industrialization, particularly in emerging economies. The need for reliable electricity distribution and efficient power infrastructure is boosting demand for medium voltage switchgear. Additionally, advancements in smart grid technology and renewable energy integration are fueling market expansion as these systems require robust switchgear solutions.
 

Developing nations grappling with unreliable electric grids and developed countries prioritizing infrastructure upgrades create a conducive environment for medium voltage switchgear manufacturers. For instance, India's Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) aims to expand electricity access in rural areas, offering funding support for related projects, thereby boosting demand for switchgear solutions.
 

Medium Voltage Switchgear Market Trends

The medium voltage switchgear industry is experiencing significant trends driven by advancements in power distribution infrastructure and renewable energy integration. Increasing demand for reliable electricity supply, coupled with the expansion of smart grid networks, is boosting market growth. Key trends include the adoption of digital technologies for enhanced monitoring and control, the shift towards eco-friendly and compact designs to minimize environmental impact and space requirements, and the rising deployment of medium voltage switchgear in industrial applications like manufacturing and oil & gas. Additionally, regulatory initiatives promoting energy efficiency and grid modernization are shaping the market landscape, fostering innovation and competitive dynamics among industry players.
 

Medium Voltage Switchgear Market Analysis

The leveraging vacuum insulation segment is projected to surpass USD 46.5 billion by 2032. Vacuum insulation offers several advantages contributing to this growth. It enhances reliability by minimizing electrical arcing and insulation failures, ensuring safer operations and reduced maintenance costs. Vacuum technology also supports higher voltage ratings and compact designs, crucial for urban and space-constrained environments. Moreover, its eco-friendly properties, including lower greenhouse gas emissions compared to SF6 gas, align with global sustainability goals. These benefits drive the adoption of vacuum-insulated switchgear across industries, bolstering market expansion and innovation in medium voltage electrical infrastructure.
 

The utility applications is projected to attain gains at nearly 6% up to 2032. Key drivers include increasing investments in upgrading aging infrastructure, growing demand for reliable electricity distribution, and initiatives to integrate renewable energy sources. Utilities are increasingly adopting medium voltage switchgear for its capability to enhance grid resilience, improve operational efficiency, and accommodate fluctuating power demands. This trend is further propelled by regulatory incentives promoting grid modernization and energy efficiency, fostering a favorable environment for market expansion and technological advancements in medium voltage switchgear solutions.
 

Asia-Pacific medium voltage switchgear market is expected to exceed USD 28.5 billion by 2032. Increased industrialization and urbanization across the region have led to rising electricity demand, prompting investments in reliable power distribution infrastructure. Moreover, the shift towards renewable energy sources and the need for modernizing aging infrastructure further contribute to the market's growth trajectory in Asia-Pacific, creating opportunities for manufacturers and suppliers in the sector.
 

The U.S. medium voltage switchgear market is driven by increasing urbanization, industrial expansion, and infrastructure development, boosting demand for reliable electricity distribution and grid modernization. Regulatory emphasis on energy efficiency and the integration of renewable energy sources also propels market growth, alongside advancements in smart grid technologies and the need for enhanced operational safety and reliability.
 

Medium Voltage Switchgear Market Share

ABB holds a significant share in the U.S. medium voltage switchgear industry, leveraging its advanced technologies and global presence. Known for reliability and innovation, ABB's offerings cater to diverse industrial and infrastructure needs, including smart grid solutions and renewable energy integration, reinforcing its position as a key player in the sector.
 

Medium Voltage Switchgear Market Companies

Major key players operating across the medium voltage switchgear industry are:

• ABB
• Bharat Heavy Electricals Limited
• CHINT Group
• CG Power & Industrial Solutions Ltd.
• Eaton
• General Electric
• HYOSUNG HEAVY INDUSTRIES
• HD Hyundai Electric Co., Ltd.
• Lucy Group Ltd.
• Mitsubishi Electric Corporation
• Ormazabal
• Powell Industries
• Siemens
• Schneider Electric
• Toshiba Infrastructure Systems & Solutions Corporation
   

Medium Voltage Switchgear Industry News

• In January 2022, ABB offered AirPlus, its 36 kV GIS which incorporates a MV double busbar, to UK Power Networks. This innovative solution is renowned for its minimal environmental footprint, aiming to decrease unplanned outages and enhance power distribution flexibility. The Gas Insulated Switchgear (GIS) serves as a crucial barrier between electrical components, significantly lowering its environmental impact.
   

This Medium voltage switchgear market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in ‘000 Units & USD Million from 2021 to 2032, for the following segments:

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Market, By Voltage

• ≥ 3 kV to < 9 kV
• ≥ 9 kV to < 15 kV
• ≥ 15 kV to < 21 kV
• ≥ 21 kV to < 27 kV
• ≥ 27 kV to < 33 kV
• ≥ 33 kV

Market, By Component

• Circuit breakers
• Contactors
• Switches & disconnector
• Fuses
• Others

Market, By Insulation

• Air
• Gas
• Oil
• Vacuum
• Others

Market, By End Use

• Power stations
• Transformer substations
• Local electricity supply
• Others

Market, By Application

• Residential
• Commercial
• Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Spain
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Oman
  • South Africa
  • Egypt
• Latin America
  • Brazil
  • Peru
  • Argentina