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Utility Scale Switchgear Market Size By Voltage (< 36 kV, > 36 kV), By Installation (Indoor, Outdoor) & Global Forecast Report, 2023 – 2032

  • Report ID: GMI5665
  • Published Date: May 2023
  • Report Format: PDF

Utility Scale Switchgear Market Size

Utility Scale Switchgear Market size surpassed USD 73.8 billion in 2022 and is anticipated to expand at 7.4% CAGR from 2023 to 2032 on account of the growing demand for effective T&D control systems.

Utility Scale Switchgear Market

Global switchgear market is projected to cross USD 242 billion revenue by 2030. Rising demand for refurbishment of prevailing electrical setup coupled with growing investments across the grid infrastructure will complement the business potential. Lack of efficient and reliable electric network across the developing nations along with a shift toward the development of existing infrastructure across developed countries have further integrated a favourable industry scenario.

COVID- 19 Impact

The ongoing pandemic will have minimal effect on the power industry, which is essential to and the foundation of an economy. The regions are focusing on compensating for COVID-19's effects by advancing activities when opportunities present themselves, which would eventually lead to progressive utility scale switchgear market expansion. The businesses have used innovative techniques to meet their production demands. The industry outlook will be boosted by government efforts to enhance investments in the development of renewable power plants.

Utility Scale Switchgear Market Trends

Ongoing programs and initiatives with respect to enhancement of the power grid, which includes, smart grid research & development; advanced technologies, grid energy storage, integrate a competitive landscape. Network management systems, solid-state components and power flow controllers can optimize the power delivery and further enhance resilience; interactive capabilities including adaptive networks; intelligent control and communication systems will positively influence the product demand.

Rising investments from public & private funding institutions across the globe along with regulatory provisions that cater to the rapid expansion of smart grid networks will positively influence the utility scale switchgear market outlook. Favourable reforms in line with large-scale renewable integration favoured by the upgradation of the existing grid infrastructure to sustain the emerging electricity demand will comprehensively enhance the product penetration.

For instance, The Smart Grid Investment Grant program (SGIG) aims to escalate the modernization of the existing transmission systems across the U.S. On account of the favourable political and economic scenario, smart grid deployment projects mark significant growth potential in the near future.

Utility Scale Switchgear Market Analysis

Utility Scale Switchgear Market Size, By Voltage, 2021 – 2032 (USD Billion)

< 36 kV utility scale switchgear market witnessed an annual installation of over 7 million units in 2022. These components in the recent years have gained significant impetus subject to the large-scale T&D deployment and refurbishment of the existing grid network in developing economies. In addition, suburban migration has further led to the expansion of large multi-story apartments and residential complexes, boosting the product demand.|

Increasing dependency on large industries including power generation and manufacturing facilities has fostered the demand for > 36 kV switchgears. Additionally, heavy metal and mining industries and the rapid expansion of railway networks will further institute a favourable business scenario. As the industry has been categorized to be amongst the highly regulated market platforms, standardized product specifications together with a huge focus on the safety and reliability of the overall electric network will foster the overall industry dynamics.

Utility Scale Switchgear Market Revenue Share, By Installation, 2022

Indoor utility scale switchgear market is expected to foresee significant growth led by its advanced product specifications including limited maintenance, enhanced operability, and maintaining the aesthetic proximity. Developers in the current market landscape have introduced various components with features such as automated self-assessment which further ease the end user to efficiently handle and avoid minor disturbances. However, space constraint remains the pivotal for the integration and development of these products. Also, technological precision and rigorous research & development has led manufacturers to avail component variants with varied insulation, rating and similar operational features at competitive prices and compact size.

Outdoor installation currently holds an appreciable share in competitive industrial scenario owing to increasing installation of on-site generation technology and expansion of utility-based distribution network. The lesser probability of fault escalation and lower upfront capital cost in outdoor establishments will further increase the product demand. However, limited deployment peripheral in commercial and residential premises hurdled by the introduction of competitive indoor components have rather derailed the product adoption. However, industrial competition along with demand from utility and industrial network operators for effective cost competitive products will sustain the business landscape.

Asia Pacific Utility Scale Switchgear Market Size, 2021 – 2032 (USD Billion)

The Asia Pacific utility scale switchgear market is estimated to amass USD 55 billion by 2032. Economical costs, reliability & longevity, along with operational flexibility are some of the essential parameters anticipated to augment the industry landscape. Ongoing research pertaining to the development of effective components coupled with rising investments towards the manufacture of energy efficient products has been the key strategic implication in the industrial overview. Large scale deployment of renewables along with development of smart grid networks across the gulf states will positively influence the product penetration.

Emerging economies including China & India are considered as promising markets as they continue to strengthen the existing power capacities & infrastructure to meet the rising electricity demand. Furthermore, changing electricity consumption patterns in households & corporations will boost the market progression. Growing concerns toward grid safety & reliability have substantially raised the product demand.

Utility Scale Switchgear Market Share

Some of the major utility scale switchgear market participants include:

  • Schneider Electric
  • Mitsubishi Electric Corporation
  • General Electric
  • Eaton
  • Siemens
  • ABB 

Leading industry players are concentrating towards various strategies including new agreements, joint ventures, and collaboration. In addition, ongoing refurbishment of power grid including advanced technologies, grid energy storage and smart grid development will drive the business growth.

Utility Scale Switchgear Industry News

  • In October 2021, Schneider Electric launched its next-generation green & digital MV switchgear, RM AirSeT. The product combines pure air technology along with the latest GIS. In addition, the switchgear is designed with digital connectivity, allowing the electric utilities to enhance their reliability and operational performance.
  • In April 2020, ABB entered into a five-year contract estimated to be worth over USD 100 million with ISA, South America’s utilities company. Under the contract, the company will be providing its services in information, transportation, and telecommunications. It will also supply GIS and air-insulated switchgear equipment, including instrument transformers, circuit breakers & hybrid modules, to prevent power outages.

This market research report on utility scale switchgear includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in Units & USD Million from 2019 to 2032, 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 regions and country:

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


Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of utility scale switchgear exceeded USD 73.8 billion in 2022 and will reach USD 151.6 billion by 2032 due to the increasing need for effective T&D control systems worldwide.

< 36 kV utility scale switchgear industry recorded over 7 million units, in terms of annual installation, in 2022 owing to the large-scale T&D deployment and refurbishment of the existing grid network across developing economies.

The APAC scale switchgear industry size will exceed USD 55 billion by 2032 driven by the growing investments for the creation of energy efficient products.

Schneider Electric, Mitsubishi Electric Corporation, General Electric, Eaton, Siemens, and ABB are few of the utility scale switchgear companies.

Utility Scale Switchgear Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 10
  • Tables & Figures: 468
  • Countries covered: 21
  • Pages: 350
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