Utility Scale Switchgear Market Size - By Voltage, By Installation, Analysis, Share, & Forecast, 2025 - 2034

Utility Scale Switchgear Market Size

The global utility scale switchgear market was valued at USD 85.9 Billion in 2024 and is estimated to grow at a CAGR 7.2% from 2025 to 2034, due to investment around the world into renewable energy infrastructure, grid modernization, and the construction of high-voltage transmission networks, leading to an equal motivation from governments to incorporate clean energy sources. In order to achieve this, however, highly sophisticated and efficient switchgear systems which are capable of controlling power flows throughout the grid and ensuring stability will be required. High economic growth rates in developing countries have meant increasing robust demand for electricity.
 

The same can be anticipated about the rise of the market, with new technological advancements including digital and smart switchgear systems, which enable the enhancement of monitoring, diagnostics and predictive maintenance. Furthermore, there is a trend towards higher gas insulated switchgear (GIS) voltage ratings, which improves space requirements in urban and constrained environments. Many low MV GIS are being manufactured to meet the demand in oil and gas companies. In general, with more constraints placed on the efficiency of infrastructure including power stations and their need to be updated, the market around these products will flourish.
 

Utility Scale Switchgear Market Trends

Transformative trends are beginning to shape the global utility scale switchgear industry due to the global energy transition as well as specific technological advances. The major trend that stands out is the digitalization of the industry which combines information technologies with smart switchgear solutions. Systems of smart switchgear with sensor devices, communication units, and advanced monitoring capabilities are in high demand as when Utilities work on improving grid reliability, systems including smart data analysis, remote diagnostics, and predictive maintenance are the way to go as they reduce downtime and operational costs together with allowing lower staff expenses.
 

Another important trend is the vast acceptance of gas-insulated switching devices (GIS) technology in urban and space-constrained areas. Instead of traditional air-insulated switchgear (AIS), USIGS solutions offer very compact but reliable switchgear with superior performance to help reduce the negative environmental impact while still meeting the constantly growing demand. Due to the constant growth of urban areas, GIS seems to be the most sought option for utility scale projects as it can optimize space reliance. Furthermore, new insulation gases that are less harmful to the environment than sulphur hexafluoride (SF6) are continuously being developed.
 

Utility Scale Switchgear Market Analysis

Based on voltage 36 kV segment is  predicted to reach over USD 102.8 billion by 2034. However, for this growth to thrive there needs to be an efficient and robust high-voltage switchgear to manage power flow from solar and wind renewable sources. Furthermore, the long-distance transmission grids will require a stable adjustable high-voltage switchgear that leads to the efficient grid infrastructure upgrade, further enhancing segment growth in developed areas.
 

According to installation, the outdoor subsegment in the utility scale switchgear is anticipated to have a CAGR of more than 6.8% by the year 2034, due to the considerable adoption of AC transmission and distribution systems around the power grids worldwide. It is mainly due to the effectiveness of AC infrastructure in distance power transmission and its capacity to be incorporated into the pre-existing grid structures that AC is so widely utilized. This is why the increased investment in renewable energy projects including wind and solar farms increases the need for utility scale switchgear.
 

The U.S. utility scale switchgear market is expected to cross over USD 16.2 billion by 2034, owing to increased power grid infrastructure development investment returns as switchgear needs are becoming more critical with the power grid facing increased electricity demand. Additionally, the deployment of larger scale renewable energy sources (solar and wind power) are increasing the need for more advanced switchgear that can manage the variable power flows while ensuring grid stability.
 

Asia Pacific utility scale switchgear market is also expected to experience tremendous growth in switchgear sales, mostly as a result of the governments of China, India, and Japan supporting the expansion of energy infrastructure and integrating renewable energy projects. Most of these countries are increasingly urbanized and industrialized which Martin expects is going to put additional stress on the existing power grid. These countries however, put significant focus on energy access and infrastructure development, making this region highly demanded. With that said, the whole region is putting a strategic emphasis on sustainable energy solutions making this region a key development area.
 

Utility Scale Switchgear Market Share

The utility scale switchgear industry has been dominated by firms including ABB, Siemens and Hitachi due to their technological resources, product range, and geographical presence. These companies allocate large amounts of funds in R&D spending, resulting in the progress of innovation of smart and digital switchgear systems for enhanced grid management. Their specialized skills in smart switchgear solutions for renewable energy, grid upgrades, and high voltage supports sets them apart from the competition.
 

Utility Scale Switchgear Market Companies

Major players operating in the utility scale 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
   

Utility Scale Switchgear Industry News

• In April 2024, Schneider Electric and Digital Realty launched a circular economy initiative at the PAR5 data center in Paris. with the goal of increasing the lifespan of PAR5's critical components, including Schneider Electric’s LV and MV switchgear, electrical equipment and UPS units. The project further affirms Digital Realty's ESG objectives.
   
• In May 2024, SAEL Ltd, an Indian renewable energy company, revealed its intention to issue its dollar denomination bonds, with a target of raising USD 500 Mn. The proceeds will be allotted to energy projects, specifically the development of solar power plants.
   

This utility scale switchgear market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million and ‘‘000 Units’ from 2021 to 2034, for the following segments:

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Market, By Voltage

• 36 kV
• > 36 kV

Market, By Installation

• Indoor
• Outdoor

The above information has been provided for the following countries across the region:

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