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High Voltage Switchgear Market Size By Voltage (36 kV, 72.5 kV, 123 kV, 145 kV), By Installation (Indoor, Outdoor), By Breaking Capacity (25 kA, 31.5 kA, 40 kA, 50 kA, 63 kA), By Current (600 A, 1200 A, 2000 A, 3150 A, 4000 A), By Product (Dead Tank, Live Tank, GIS), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI5399
  • Published Date: Nov 2022
  • Report Format: PDF

Industry Statistics

High Voltage Switchgear Market size valued at USD 2 billion in 2022 and is projected to grow at over 7% CAGR from 2023 to 2032. Increasing investments across the grid infrastructure will spur the industry expansion.

The paradigm shift towards IT integration across the energy sector will positively influence industry growth. Governments across the world are actively supporting the implementation of smart grid technologies, especially in nations across North America and Europe. Furthermore, the market outlook is forecast to be complemented by expanding grid infrastructure investments and the growing demand for upgrading the existing electrical infrastructure.

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Slow-paced technological advancement in developing countries may hamper business expansion

Although the power supply management sector has gained widespread acceptance, strict regulatory and geopolitical restrictions are hampering high voltage switchgear market expansion. However, the advent of smart machines, improving digital infrastructure, and booming digital literacy are positively influencing the product landscape. Robust economic growth across the nations and the increasing implementation of smart government regulations and policies are set to help manufacturers overcome the limitation in the coming years.

Rising product usage for grid-isolated zones to escalate 72.5 kV switchgear segment revenues

The 72.5 kV voltage segment is slated to expand at more than 7.5% growth rate through 2032. For many regulators and installers, the grid-isolated zones are the main areas of focus since they offer tremendous possibilities for expansion and profit maximization, which is foreseen to bolster segment development. Major enterprises are adopting novel technologies to offer clients affordable, environmentally friendly, and zero global warming potential substitutes to SF6 gas.

Improvements in modern grid infrastructure to boost indoor segment uptake

High voltage switchgear market value from indoor installation segment accounted for around USD 570 million in 2022 owing to the growing emphasis on expanding the availability of electricity through modernizing the current grid infrastructure. Moreover, the rising preference for indoor installations of high voltage switchgear in locations with expensive land or limited space will promote segment expansion.

Burgeoning need to mitigate the environmental effects of emissions to favor the 31.5 kA segment

In terms of breaking capacity, the 31.5 kA segment is estimated to attain nearly 7% gains through 2032 due to the rising need to minimize emissions and the limited availability of coal, renewable energy sources and gas are now being preferred for new capacity construction. These factors are boosting the demand for 31.5 kA installations, which is speculated to drive segment growth.

Growing demand for 1200 A switchgear to shape industry outlook

On the basis of current, the high voltage switchgear market from 1200 A segment is predicted to observe more than 8% CAGR till 2032. The utilization of 1200 A switchgear is increasing for its multiple applications, such as the integration of power generation units into grids, rail lines, and power transmissions, which is expected to have a favorable influence on the growth of the segment.

Lower environmental impact to push GIS demand

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In terms of product, the GIS segment in the high voltage switchgear market surpassed around USD 1 billion in 2022. Compared to other alternatives, GIS or gas insulated switchgear offers superior flexibility and reliability. On account of its gas encased architecture, it finds extensive usage in both indoor and underground substations. Additionally, several benefits offered by GIS viz., less maintenance, compactness, reduced environmental effect, and so on, are further supplementing segment progression.

Supportive government programs to amplify business revenue across Europe

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Europe high voltage switchgear market size is poised to showcase nearly 6% gains through 2032. Manufacturers and developers are investing heavily in the integration of smart monitoring, control, and performance units. Thus, technological advancements encouraged by government-led programs to facilitate the integration of small-scale renewable energy sources are estimated to complement industry dynamics in the region.

Product development to define the competitive landscape of the industry

Top participant operating in the industry are Hyundai Electric & Energy Systems Co., Siemens Energy, GE, Mitsubishi Electric Corporation, Hyosung Heavy Industries, Hitachi Energy Ltd., Bharat Heavy Electricals Ltd., CG Power & Industrial Ltd., Powell Industries, Ltd., BRUSH, CHEM, Schneider Electric, TOSHIBA CORPORATION, CHINT Group, and others. Manufacturers are developing compact, effective, and affordable solutions to enhance their market presence. In August 2022, global technology leader Hitachi Energy and England-based energy company Eversource partnered to install the eco-friendly ‘EconiQ’ 420 kV circuit-breaker in the U.S.

Impact of COVID-19 on industry trends

Businesses in the high voltage switchgear market were required to comply with government requirements for vital critical infrastructure supplies during the initial phases of the COVID-19 pandemic. While some businesses did not encounter significant disruptions to operations, many faced serious delays and labor shortages, which hampered the overall market. Companies took assistance from the federal or local governments in order to keep their vital operations functioning to meet consumer demand. However, with booming emphasis on improving the global electric grid infrastructure and declining COVID cases, the industry is expected to witness notable growth in the upcoming period.

The high voltage switchgear market research report includes in-depth coverage of the industry with estimates & forecast in terms of USD million from 2019 to 2032, for the following segments:

Market Insights, By Voltage

  • 36 kV
  • 72.5 kV
  • 123 kV
  • 145 kV

Market Insights, By Installation

  • Indoor
  • Outdoor

Market Insights, By Breaking Capacity

  • 25 kA
  • 31.5 kA
  • 40 kA
  • 50 kA
  • 63 kA

Market Insights, By Current

  • 600 A
  • 1200 A
  • 2000 A
  • 3150 A
  • 4000 A

Market Insights, By Product

  • Dead Tank
  • Live Tank
  • GIS

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


Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of high voltage switchgear crossed USD 2 billion in 2022 and is expected to grow at more than 7% growth rate through 2032 propelled by mounting investments across the grid infrastructure.
The GIS product segment accounted USD 1 billion in 2022 and is slated to depict considerable growth through 2032. Several benefits offered by GIS viz., less maintenance, compact, reduced environmental effect, and so on, are supplementing segment progression.
The Europe market is set to expand at over 6% CAGR through 2032 owing to massive investments by manufacturers and developers and government programs to promote technological advancements in the region.
The enterprises operating in the industry are Hyundai Electric & Energy Systems Co., Siemens Energy, GE, Mitsubishi Electric Corporation, Hyosung Heavy Industries, Hitachi Energy Ltd., Bharat Heavy Electricals Ltd., CG Power & Industrial Ltd., Powell Industries, Ltd., BRUSH, CHEM, Schneider Electric, TOSHIBA CORPORATION, CHINT Group, and others.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 14
  • Tables & Figures: 1163
  • Countries covered: 22
  • Pages: 600
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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