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Switchgear Market Share

Report ID: GMI317
Published Date: Sep 2023
Report Format: PDF

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Switchgear Market Share

Global Company Market Share Analysis, 2023 (%)

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The key participants operating across the switchgear market include

ABB
Siemens
GE
Mitsubishi Electric Corporation
Schneider Electric
Ormazabal
Bharat Heavy Electricals Limited
CG Power and Industrial Solutions Limited
Chint Group
Eaton
Hyosung Heavy Industries
HD HYUNDAI ELECTRIC CO., LTD.
Toshiba Corporation
Powell Industries
Fuji Electric Co., Ltd.
Hitachi Ltd
Lucy Group Ltd.
Regal Rexnord Corporation
Skema S.p.A.
E + I Engineering

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market valuation of switchgear was exceeded USD 144.5 billion in 2023 and is projected to grow at a CAGR of over 7.4% through 2032, due to the growing apprehensions related to fire hazards, electrical supply interruptions, health risks, and other operational safety concerns.

The MV segment accounted for over USD 42 billion in 2022 and is expected to experience increased demand due to advancing product specifications and the growing need for safe and reliable distribution networks.

The market size of switchgear in Asia Pacific is set to grow at a CAGR of over 6.2% through 2032, driven by the increasing demand for efficient Transmission & Distribution (T&D) systems.

Hyosung Heavy Industries, HD HYUNDAI ELECTRIC CO., LTD., Toshiba Corporation, Powell Industries, Fuji Electric Co., Ltd., Hitachi Ltd, Lucy Group Ltd., Regal Rexnord Corporation, Skema S.p.A., E + I Engineering among others.