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Low Voltage (LV) Switchgear Market Size

  • Report ID: GMI243
  • Published Date: Apr 2022
  • Report Format: PDF

Low Voltage Switchgear Market Size

Low Voltage Switchgear Market size exceeded USD 67 billion in 2021 and is set to grow at a CAGR of over 8% between 2022 and 2030. Growing measures to ensure stability & safety along with ongoing development of electric infrastructure spending across power grid applications will stimulate the market growth.


The refurbishment & replacement of prevailing electrical infrastructures primarily across emerging countries will further drive the market revenue. Additionally, encouraging government policies toward the development of sustainable electrical networks to boost power generation will favor the industry expansion.


The COVID-19 crisis has hindered the overall LV switchgear market operations across the globe as it resulted in manpower shortages, delayed manufacturing operations, along with supply chain disruptions. However, the upliftment of restrictive protocols by the governing authorities for global movement coupled with the introduction of several vaccination drives have led the industry operations back to normalcy. In addition, the requirement to supply electricity during emergency cases in healthcare and critical energy generation facilities further fostered the market growth dynamics.


Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of LV switchgear was valued at more than USD 67 billion in 2021 and is expected to witness 8% CAGR during the forecast period of 2022-2030.

Fixed mounting segment size is predicted to cross 7% CAGR through 2030 as these units have limited adjoining parts and low failure rate.

Asia Pacific market forecast will be positively affected by the rising investments in the development of new power generation facilities to meet the regional energy demand.

Organizations, such as ABB, Siemens, Hyosung Heavy Industries, Powell Industries, Eaton, Hitachi Ltd., and Lucy Group, among many others, are the leading manufacturers of low voltage switchgears.

Low Voltage (LV) Switchgear Market Scope

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 15
  • Tables & Figures: 1735
  • Countries covered: 23
  • Pages: 830
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