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Switchgear Market Share

Report ID: GMI317
Published Date: Nov 2024
Report Format: PDF

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Switchgear Market Share

Companies like Hitachi, General Electric, and Siemens hold a substantial share of the market, thanks to their advanced technological capabilities, wide-ranging product portfolios, and strong global footprint. These market leaders invest heavily in research and development, driving innovations in smart and digital switchgear systems that enhance grid efficiency and reliability.

Switchgear Market Companies

Major players operating in the 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 market size of switchgear reached USD 156.3 billion in 2024 and is set to grow at a 7.3% CAGR from 2025 to 2034, driven by rising investments in infrastructure development and grid modernization worldwide.

The low voltage segment is anticipated to surpass USD 179.5 billion by 2034, led by the rapid expansion of residential, commercial, and industrial infrastructure.

The U.S. market is projected to surpass USD 31.5 billion by 2034, propelled by the ongoing modernization and upgrading of aging electrical infrastructure.

The key players in the industry 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.