開閉装置市場 – 2030年までの世界予測

本レポートは、絶縁、設置、電圧、電流、エンドユーザー、地域別に開閉装置（スイッチギア）市場を定義、説明、予測しています。また、市場の詳細な定性・定量分析も提供しています。主要な市場推進要因、制約要因、機会、課題を包括的に分析しています。さらに、競争環境の分析、市場ダイナミクス、市場価値の推定、スイッチギア市場の将来動向など、市場の様々な重要な側面を網羅しています。

The switchgear market is estimated to grow from USD 103.71 billion in 2025 to USD 136.65 billion by 2030, at a CAGR of 5.7% during the forecast period.  This growth is driven by rising electricity demand, rapid urbanization, expansion of renewable energy, and ongoing grid modernization efforts. However, the market faces restraints such as high initial installation costs, supply chain disruptions, and environmental concerns related to SF6 gas used in some switchgear types.

開閉装置（スイッチギア）市場は、2025年の1,037億1,000万米ドルから2030年には1,366億5,000万米ドルに成長し、予測期間中に5.7%の年平均成長率（CAGR）で成長すると予測されています。この成長は、電力需要の増加、急速な都市化、再生可能エネルギーの拡大、そして進行中の送電網近代化の取り組みによって牽引されています。しかしながら、市場は、初期設置コストの高さ、サプライチェーンの混乱、そして一部のスイッチギアで使用されるSF6ガスに関連する環境への懸念といった制約に直面しています。

“By voltage, medium (2–36kV) is expected to be the fastest growing market during the forecast period.”

During the forecasted period, the medium voltage (2–36kV) segment is the fastest-growing segment in the global switchgear market due to its critical role in power distribution for urban infrastructure, industrial facilities, commercial buildings, and renewable energy projects. As cities expand and smart grids evolve, medium voltage switchgear is increasingly deployed to manage localized distribution efficiently and safely. Additionally, governments worldwide are investing in strengthening medium-voltage networks to improve energy access, reduce transmission losses, and support distributed energy resources such as rooftop solar and battery storage systems. Emerging economies, particularly in Asia-Pacific and Africa, are accelerating rural electrification and industrial development, further propelling demand. Moreover, the rise of electric vehicle charging infrastructure, metro rail projects, and digital substations is fuelling the need for compact, reliable, and automation-ready medium voltage switchgear.

“ By current, the AC segment is projected to be the largest market during the forecast period.”

By current, the AC segment holds the largest share of the global switchgear market because it is the dominant form of electricity used in power generation, transmission, and distribution systems worldwide. Most national grids operate on AC due to its efficiency in transmitting power over long distances and ease of voltage transformation using transformers. As a result, most of the electrical infrastructure—ranging from utilities and industrial plants to commercial and residential buildings—is designed around AC systems. This widespread adoption drives consistent demand for AC switchgear across all voltage levels. Additionally, the expansion of renewable energy sources like wind and hydro, which predominantly generate AC power, further reinforces the global market dominance of AC switchgear.

“Asia Pacific is expected to be the largest and fastest-growing region in the switchgear market during the forecast period.”

During the forecasted period, Asia Pacific is projected to be the largest and fastest-growing segment in the global switchgear market due to rapid urbanization, industrial expansion, and significant investments in power infrastructure across emerging economies such as China, India, Australia, and Japan. The region is witnessing substantial growth in electricity demand driven by population growth, rising incomes, and increased electrification of rural areas. Governments are heavily investing in grid modernization, smart cities, and renewable energy integration, all of which require extensive deployment of switchgear systems. Additionally, strong manufacturing bases and supportive policy frameworks, such as India’s Revamped Distribution Sector Scheme (RDSS) and China’s Five-Year Plans, are further fuelling demand for both high-voltage and medium-voltage switchgear in utility and industrial applications.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:

• By Company Type: Tier 1 – 65%, Tier 2 – 24%, and Tier 3 – 11%
• By Designation: C-level Executives – 25%, Directors – 30%, and Others – 45%
• By Region: North America– 25%, Europe – 40%, Asia Pacific– 25% and RoW- 10%

Note: Other designations include sales managers, marketing managers, product managers, and product engineers.

The tier of the companies is defined based on their total revenue as of 2024. Tier 1: USD 1 billion and above, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: <USD 500 million.

A few major players with a wide regional presence dominate the switchgear market. The leading players in the switchgear market are ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Eaton (Ireland), and Hitachi, Ltd. (Japan).

Study Coverage:

The report defines, describes, and forecasts the switchgear market by insulation, installation, voltage, current, end user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the switchgear market.

Key Benefits of Buying the Report

• Product Development/ Innovation: In April 2025, Eaton launched a Rear-Access Arc-Resistant Magnum PXR Low-Voltage Switchgear, which is a cutting-edge solution designed to enhance safety, reliability, and maintainability in power distribution systems. This is engineered for applications up to 600V AC with interrupting capacities up to 100 kA, and features arc-resistant construction and rear-access design, allowing safer operation and maintenance by isolating personnel from potential arc flash zones.
• Market Development: In June 2024, Siemens invested USD 115 million in its Frankfurt switchgear plant, aimed at expanding its production capacity and advancing sustainable technologies. The initiative will support the manufacturing of Siemens’ SF6-free 8DAB–blue GIS medium-voltage switchgear, which uses climate-neutral Clean Air insulation, reinforcing Siemens’ commitment to sustainable and digital power distribution solutions.
• Market Diversification: In March 2025, ABB expanded the production capacity of its low-voltage electrification products in the US. The expansion will enable ABB to meet increasing customer demand in a wide range of key growth industries, including data centers, buildings, and utilities.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Eaton (Ireland), and Hitachi, Ltd. (Japan), among others in the switchgear market.

Table of Contents

1               INTRODUCTION              26

1.1           STUDY OBJECTIVES       26

1.2           MARKET DEFINITION   26

1.3           STUDY SCOPE   27

1.3.1        MARKETS COVERED AND REGIONAL SCOPE      27

1.3.2        INCLUSIONS AND EXCLUSIONS 28

1.3.3        YEARS CONSIDERED      29

1.4           CURRENCY CONSIDERED            29

1.5           UNIT CONSIDERED        29

1.6           LIMITATIONS    30

1.7           STAKEHOLDERS               30

1.8           SUMMARY OF CHANGES               30

2               RESEARCH METHODOLOGY       32

2.1           RESEARCH DATA              32

2.2           MARKET BREAKDOWN AND DATA TRIANGULATION                 33

2.2.1        SECONDARY DATA          34

2.2.1.1    Key data from secondary sources       34

2.2.1.2    List of key secondary sources              34

2.2.2        PRIMARY DATA 35

2.2.2.1    List of primary interview participants               35

2.2.2.2    Key data from primary sources           36

2.2.2.3    Breakdown of primaries      37

2.2.2.4    Key industry insights           38

2.3           MARKET SIZE ESTIMATION         38

2.3.1        BOTTOM-UP APPROACH              39

2.3.2        TOP-DOWN APPROACH                39

2.3.3        DEMAND-SIDE ANALYSIS             40

2.3.3.1    Regional analysis  40

2.3.3.2    Country analysis   41

2.3.3.3    Demand-side assumptions 41

2.3.3.4    Demand-side calculations   41

2.3.4        SUPPLY-SIDE ANALYSIS                 42

2.3.4.1    Supply-side assumptions     43

2.3.4.2    Supply-side calculations      43

2.3.5        FORECAST          43

3               EXECUTIVE SUMMARY  44

4               PREMIUM INSIGHTS       50

4.1           ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SWITCHGEAR MARKET 50

4.2           SWITCHGEAR MARKET, BY REGION        50

4.3           SWITCHGEAR MARKET IN ASIA PACIFIC, BY END USER AND COUNTRY 51

4.4           SWITCHGEAR MARKET, BY INSULATION               51

4.5           SWITCHGEAR MARKET, BY INSTALLATION         52

4.6           SWITCHGEAR MARKET, BY VOLTAGE    52

4.7           SWITCHGEAR MARKET, BY CURRENT     53

4.8           SWITCHGEAR MARKET, BY END USER    53

5               MARKET OVERVIEW       54

5.1           INTRODUCTION              54

5.2           MARKET DYNAMICS       55

5.2.1        DRIVERS               55

5.2.1.1    Increasing demand for electricity       55

5.2.1.2    Integration of renewable energy sources          56

5.2.2        RESTRAINTS      57

5.2.2.1    Regulatory restrictions on SF₆ gas emissions   57

5.2.2.2    High capital and lifecycle costs           58

5.2.3        OPPORTUNITIES              59

5.2.3.1    Exponential growth of digital services, cloud computing, and AI                 59

5.2.3.2    Deployment of smart grid and digital substations           60

5.2.4        CHALLENGES    60

5.2.4.1    Fragmented regulatory and standardization landscape  60

5.2.4.2    Cybersecurity risks associated with digital switchgear systems                 61

5.3           TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS            62

5.4           PRICING ANALYSIS          63

5.4.1        AVERAGE SELLING PRICE TREND OF SWITCHGEAR, BY REGION, 2020–2024           64

5.4.2        PRICING RANGE OF SWITCHGEAR, BY VOLTAGE, 2024                 65

5.5           SUPPLY CHAIN ANALYSIS             65

5.6           ECOSYSTEM ANALYSIS  67

5.7           TECHNOLOGY ANALYSIS             69

5.7.1        KEY TECHNOLOGIES     69

5.7.1.1    Digital switchgear 69

5.7.1.2    SF₆-Free insulation               69

5.7.2        ADJACENT TECHNOLOGIES       70

5.7.2.1    Advanced energy storage systems (ESS)          70

5.7.2.2    Smart meters and AMI        71

5.7.3        COMPLEMENTARY TECHNOLOGIES       71

5.7.3.1    SCADA and grid automation systems               71

5.7.3.2    Arc flash detection & mitigation systems          72

5.8           PATENT ANALYSIS          73

5.9           TRADE ANALYSIS             76

5.9.1        TRADE ANALYSIS FOR HS CODE 853590  76

5.9.2        IMPORT SCENARIO (HS CODE 853590)    76

5.9.3        EXPORT SCENARIO (HS CODE 853590)    77

5.9.4        TRADE ANALYSIS FOR HS CODE 853690  79

5.9.5        IMPORT SCENARIO (HS CODE 853690)    79

5.9.6        EXPORT SCENARIO (HS CODE 853690)    80

5.10         KEY CONFERENCES AND EVENTS, 2022–2024        82

5.11         TARIFF AND REGULATORY LANDSCAPE               83

5.11.1      TARIFFS RELATED TO SWITCHGEAR      83

5.11.2      REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             85

5.11.3      CODES AND REGULATIONS        89

5.12         PORTER’S FIVE FORCES ANALYSIS           91

5.12.1      THREAT OF SUBSTITUTES          92

5.12.2      BARGAINING POWER OF SUPPLIERS       92

5.12.3      BARGAINING POWER OF BUYERS             92

5.12.4      THREAT OF NEW ENTRANTS      92

5.12.5      INTENSITY OF COMPETITIVE RIVALRY 93

5.13         KEY STAKEHOLDERS AND BUYING CRITERIA     93

5.13.1      KEY STAKEHOLDERS IN BUYING PROCESS           93

5.13.2      BUYING CRITERIA           94

5.14         INVESTMENT AND FUNDING SCENARIO               94

5.15         CASE STUDY ANALYSIS 95

5.15.1      ABB DEPLOYS MOLDED VACCUM MODULES TO MINIMIZE INFRASTRUCTURE REWORK 95

5.15.2      ENEMALTA REVIVES SWITCHGEAR PERFORMANCE THROUGH SSL-LED REFURBISHMENT AT MARSA POWER STATION              96

5.15.3      PROTEUS SWITCHGEAR ENHANCES HIGH-PERFORMANCE VEHICLE TESTING WITH CUSTOM ELECTRICAL SOLUTIONS        96

5.16         IMPACT OF GEN AI/AI ON SWITCHGEAR MARKET                 97

5.16.1      ADOPTION OF GEN AI/AI IN SWITCHGEAR MARKET                 97

5.16.2      IMPACT OF GEN AI/AI IN SWITCHGEAR MARKET, BY REGION                98

5.17         MACROECONOMIC OUTLOOK FOR SWITCHGEAR MARKET               99

5.18         IMPACT OF 2025 US TARIFF – OVERVIEW              100

5.18.1      INTRODUCTION              100

5.18.2      KEY TARIFF RATES          101

5.18.3      PRICE IMPACT ANALYSIS             102

5.18.4      IMPACT ON COUNTRY/REGION                103

5.18.4.1  US           103

5.18.4.2  Europe   104

5.18.4.3  Asia Pacific            105

5.18.5      IMPACT ON END USERS                106

6               SWITCHGEAR MARKET, BY INSULATION               107

6.1           INTRODUCTION              108

6.2           AIR-INSULATED SWITCHGEAR  109

6.2.1        HIGH PREVALENCE IN UTILITY-OWNED MEDIUM VOLTAGE NETWORKS TO FOSTER MARKET GROWTH   109

6.3           GAS-INSULATED SWITCHGEAR 110

6.3.1        FAVORABLE ENVIRONMENTAL REGULATIONS TO FUEL MARKET GROWTH          110

6.4           OTHER INSULATION TYPES        112

7               SWITCHGEAR MARKET, BY INSTALLATION         114

7.1           INTRODUCTION              115

7.2           INDOOR               116

7.2.1        DEPLOYMENT OF INDOOR GIS TECHNOLOGY TO MEET RISING ENERGY DEMANDS TO BOOST DEMAND              116

7.3           OUTDOOR          118

7.3.1        EXPANSION OF POWER TRANSMISSION & DISTRIBUTION NETWORKS TO FOSTER MARKET GROWTH                 118

8               SWITCHGEAR MARKET, BY VOLTAGE    120

8.1           INTRODUCTION              121

8.2           LOW (UP TO 1 KV)           122

8.2.1        ELECTRIFICATION OF MOBILITY AND BUILDING SYSTEMS TO FUEL MARKET GROWTH   122

8.3           MEDIUM (2–36 KV)           124

8.3.1        ROBUST ELECTRIFICATION PROGRAMS AND RAPID INDUSTRIALIZATION IN DEVELOPING COUNTRIES TO SUPPORT MARKET GROWTH     124

8.4           HIGH (ABOVE 36 KV)      125

8.4.1        GROWING NEED TO REPLACE AGING INFRASTRUCTURE TO BOLSTER MARKET GROWTH       125

9               SWITCHGEAR MARKET, BY CURRENT     127

9.1           INTRODUCTION              128

9.2           AC           129

9.2.1        INSTALLATION OF AC SWITCHGEAR IN RENEWABLE ENERGY PLANTS TO FUEL MARKET GROWTH   129

9.3           DC          130

9.3.1        DEPLOYMENT OF BATTERY ENERGY STORAGE SYSTEMS TO FOSTER MARKET GROWTH              130

10            SWITCHGEAR MARKET, BY END USER    133

10.1         INTRODUCTION              134

10.2         TRANSMISSION & DISTRIBUTION UTILITIES       135

10.2.1      EXPANSION OF URBAN CENTERS AND ELECTRIFICATION OF RURAL AREAS TO STRENGTHEN MARKET                 135

10.3         INDUSTRIAL      137

10.3.1      INDUSTRIAL MODERNIZATION, ELECTRIFICATION OF MANUFACTURING PROCESSES, AND ADOPTION OF AUTOMATION TECHNOLOGIES TO BOLSTER MARKET GROWTH             137

10.4         COMMERCIAL & RESIDENTIAL  138

10.4.1      RISE OF EV INFRASTRUCTURE IN RESIDENTIAL AND COMMERCIAL COMPLEXES TO OFFER LUCRATIVE GROWTH OPPORTUNITIES              138

10.5         WATER & WASTEWATER               139

10.5.1      GROWING EMPHASIS ON SUSTAINABLE WATER MANAGEMENT AND SMART UTILITY NETWORKS TO FUEL MARKET GROWTH          139

10.6         DATA CENTERS                 141

10.6.1      SURGINGGLOBAL DATA CONSUMPTION AND CLOUD COMPUTING TO SUPPORT MARKET GROWTH  141

10.7         OTHER END USERS         142

11            SWITCHGEAR MARKET, BY REGION        144

11.1         INTRODUCTION              145

11.2         ASIA PACIFIC     147

11.2.1      CHINA  152

11.2.1.1  Surging investment in grid and storage infrastructure to foster market growth       152

11.2.2      INDIA    153

11.2.2.1  Increasing popularity of clean energy to fuel market growth                 153

11.2.3      JAPAN   154

11.2.3.1  Rising focus on decarbonizing energy and raw materials to spur demand  154

11.2.4      AUSTRALIA         156

11.2.4.1  Push toward integration of renewable energy and grid modernization to fuel market growth                156

11.2.5      REST OF ASIA PACIFIC   157

11.3         EUROPE               159

11.3.1      GERMANY           164

11.3.1.1  Supportive regulatory framework and substantial public and private investments to drive market  164

11.3.2      UK          166

11.3.2.1  Surge in digital infrastructure to drive market 166

11.3.3      FRANCE                167

11.3.3.1  Deployment of clean energy technologies to foster market growth                 167

11.3.4      ITALY    168

11.3.4.1  Growing cross-border energy cooperation to drive market                 168

11.3.5      REST OF EUROPE             170

11.4         NORTH AMERICA             171

11.4.1      US           175

11.4.1.1  Government-led funding for power grid projects to fuel market growth    175

11.4.2      CANADA               176

11.4.2.1  Trend toward advanced digital and hybrid switchgear systems to offer lucrative growth opportunities  176

11.4.3      MEXICO                177

11.4.3.1  Rising emphasis on reforming energy sector to drive market                 177

11.5         MIDDLE EAST & AFRICA                178

11.5.1      GCC       183

11.5.1.1  UAE        183

11.5.1.1.1                Emphasis on decarbonizing offshore operations to boost demand  183

11.5.1.2  Saudi Arabia          185

11.5.1.2.1                Rising focus on energy diversification and infrastructure modernization to drive market           185

11.5.1.3  Rest of GCC          187

11.5.2      EGYPT  188

11.5.2.1  Strategic investments and technological deployments to spur demand  188

11.5.3      SOUTH AFRICA 189

11.5.3.1  Need to modernize and expand transmission infrastructure to fuel market growth                189

11.5.4      REST OF MIDDLE EAST & AFRICA             191

11.6         SOUTH AMERICA             192

11.6.1      BRAZIL 196

11.6.1.1  Expanding electricity infrastructure to boost demand    196

11.6.2      ARGENTINA       197

11.6.2.1  Convergence of privatization, regulatory reform, and renewable energy growth to drive market            197

11.6.3      REST OF SOUTH AMERICA           198

12            COMPETITIVE LANDSCAPE         200

12.1         OVERVIEW          200

12.2         KEY PLAYER STRATEGIES/RIGHT TO WIN, 2022–2025                 200

12.3         MARKET SHARE ANALYSIS, 2024                 202

12.4         REVENUE ANALYSIS, 2020–2024  206

12.5         COMPANY VALUATION AND FINANCIAL METRICS                 207

12.6         BRAND/PRODUCT COMPARISON             208

12.7         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024                 208

12.7.1      STARS   208

12.7.2      EMERGING LEADERS     209

12.7.3      PERVASIVE PLAYERS      209

12.7.4      PARTICIPANTS 209

12.7.5      COMPANY FOOTPRINT: KEY PLAYERS, 2024         211

12.7.5.1  Company footprint               211

12.7.5.2  Region footprint   212

12.7.5.3  Insulation footprint               213

12.7.5.4  Installation footprint            214

12.7.5.5  End use footprint  215

12.8         COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024        216

12.8.1      PROGRESSIVE COMPANIES         216

12.8.2      RESPONSIVE COMPANIES            216

12.8.3      DYNAMIC COMPANIES  216

12.8.4      STARTING BLOCKS         216

12.8.5      COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024                 218

12.8.5.1  Detailed list of key startups/SMEs    218

12.8.5.2  Competitive benchmarking of key startups/SMEs          219

12.9         COMPETITIVE SCENARIO             219

12.9.1      PRODUCT LAUNCHES   220

12.9.2      DEALS  223

12.9.3      EXPANSIONS     228

12.9.4      OTHER DEVELOPMENTS              230

13            COMPANY PROFILES      237

13.1         KEY PLAYERS     237

13.1.1      SCHNEIDER ELECTRIC  237

13.1.1.1  Business overview 237

13.1.1.2  Products/Solutions/Services offered 239

13.1.1.3  Recent developments           241

13.1.1.3.1                Product launches  241

13.1.1.3.2                Deals      242

13.1.1.3.3                Expansions             242

13.1.1.3.4                Other developments             243

13.1.1.4  MnM view              244

13.1.1.4.1                Key strengths/Right to win 244

13.1.1.4.2                Strategic choices   245

13.1.1.4.3                Weaknesses/Competitive threats       245

13.1.2      SIEMENS              246

13.1.2.1  Business overview 246

13.1.2.2  Products/Solutions/Services offered 247

13.1.2.3  Recent developments           249

13.1.2.3.1                Product launches  249

13.1.2.3.2                Deals      250

13.1.2.3.3                Other developments             251

13.1.2.4  MnM view              251

13.1.2.4.1                Key strengths/Right to win 251

13.1.2.4.2                Strategic choices   252

13.1.2.4.3                Weaknesses/Competitive threats       252

13.1.3      ABB        253

13.1.3.1  Business overview 253

13.1.3.2  Products/Solutions/Services offered 254

13.1.3.3  Recent developments           257

13.1.3.3.1                Product launches  257

13.1.3.3.2                Deals      258

13.1.3.3.3                Expansions             259

13.1.3.3.4                Other developments             260

13.1.3.4  MnM view              261

13.1.3.4.1                Key strengths/Right to win 261

13.1.3.4.2                Strategic choices   261

13.1.3.4.3                Weaknesses/Competitive threats       261

13.1.4      HITACHI, LTD.  262

13.1.4.1  Business overview 262

13.1.4.2  Products/Solutions/Services offered 263

13.1.4.3  Recent developments           265

13.1.4.3.1                Product launches  265

13.1.4.3.2                Deals      265

13.1.4.3.3                Expansions             266

13.1.4.3.4                Other developments             266

13.1.4.4  MnM view              268

13.1.4.4.1                Key strengths/Right to win 268

13.1.4.4.2                Strategic choices   268

13.1.4.4.3                Weaknesses/Competitive threats       268

13.1.5      EATON 269

13.1.5.1  Business overview 269

13.1.5.2  Products/Solutions/Services offered 270

13.1.5.3  Recent developments           273

13.1.5.3.1                Product launches  273

13.1.5.3.2                Deals      274

13.1.5.3.3                Other developments             275

13.1.5.4  MnM view              276

13.1.5.4.1                Key strengths/Right to win 276

13.1.5.4.2                Strategic choices   276

13.1.5.4.3                Weaknesses/Competitive threats       277

13.1.6      GE VERNOVA     278

13.1.6.1  Business overview 278

13.1.6.2  Products/Solutions/Services offered 279

13.1.6.3  Recent developments           280

13.1.6.3.1                Product launches  280

13.1.6.3.2                Deals      281

13.1.6.3.3                Expansions             282

13.1.6.3.4                Other developments             282

13.1.7      MITSUBISHI ELECTRIC CORPORATION 284

13.1.7.1  Business overview 284

13.1.7.2  Products/Solutions/Services offered 285

13.1.7.3  Recent developments           287

13.1.7.3.1                Other developments             287

13.1.8      POWELL INDUSTRIES    288

13.1.8.1  Business overview 288

13.1.8.2  Products/Solutions/Services offered 289

13.1.9      HUBBELL             292

13.1.9.1  Business overview 292

13.1.9.2  Products/Solutions/Services offered 293

13.1.9.3  Recent developments           295

13.1.9.3.1                Deals      295

13.1.10   HD HYUNDAI ELECTRIC CO., LTD.           296

13.1.10.1                 Business overview 296

13.1.10.2                 Products/Solutions/Services offered 297

13.1.10.3                 Recent developments           298

13.1.10.3.1             Developments       298

13.1.11   TOSHIBA CORPORATION             299

13.1.11.1                 Business overview 299

13.1.11.2                 Products/Solutions/Services offered 300

13.1.11.3                 Recent developments           303

13.1.11.3.1             Developments       303

13.1.12   BHARAT HEAVY ELECTRICALS LIMITED               304

13.1.12.1                 Business overview 304

13.1.12.2                 Products/Solutions/Services offered 305

13.1.12.3                 Recent developments           306

13.1.12.3.1             Developments       306

13.1.13   CG POWER & INDUSTRIAL SOLUTIONS LTD.      307

13.1.13.1                 Business overview 307

13.1.13.2                 Products/Solutions/Services offered 308

13.1.13.3                 Recent developments           309

13.1.13.3.1             Deals      309

13.1.13.3.2             Expansions             310

13.1.14   HYOSUNG HEAVY INDUSTRIES 311

13.1.14.1                 Business overview 311

13.1.14.2                 Products/Solutions/Services offered 312

13.1.14.3                 Recent developments           314

13.1.14.3.1             Developments       314

13.1.15   FUJI ELECTRIC CO., LTD.              315

13.1.15.1                 Business overview 315

13.1.15.2                 Products/Solutions/Services offered 317

13.1.15.3                 Recent developments           318

13.1.15.3.1             Developments       318

13.1.16   WEG      319

13.1.16.1                 Business overview 319

13.1.16.2                 Products/Solutions/Services offered 321

13.1.16.3                 Recent developments           321

13.1.16.3.1             Deals      321

13.1.16.3.2             Other developments             322

13.1.17   DOHO ELECTRIC              323

13.1.17.1                 Business overview 323

13.1.17.2                 Products/Solutions/Services offered 323

13.1.18   LUCY GROUP LTD.          325

13.1.18.1                 Business overview 325

13.1.18.2                 Products/Solutions/Services offered 326

13.1.19   LS ELECTRIC CO., LTD  327

13.1.19.1                 Business overview 327

13.1.19.2                 Products/Solutions/Services offered 328

13.1.19.3                 Recent developments           330

13.1.19.3.1             Deals      330

13.1.19.3.2             Other developments             331

13.1.20   CHINT GROUP  332

13.1.20.1                 Business overview 332

13.1.20.2                 Products/Solutions/Services offered 332

13.1.20.3                 Recent developments           334

13.1.20.3.1             Deals      334

13.2         OTHER PLAYERS              335

13.2.1      SÉCHERON         335

13.2.2      ELEKTROBUDOWA         336

13.2.3      MEIDENSHA CORPORATION      337

13.2.4      ORMAZABAL      338

13.2.5      ALFANAR GROUP             339

14            APPENDIX           340

14.1         INSIGHTS FROM INDUSTRY EXPERTS     340

14.2         DISCUSSION GUIDE        341

14.3         KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL                347

14.4         CUSTOMIZATION OPTIONS        349

14.5         RELATED REPORTS         349

14.6         AUTHOR DETAILS           350

LIST OF TABLES

TABLE 1                SWITCHGEAR MARKET SNAPSHOT          45

TABLE 2                GLOBAL WARMING POTENTIAL OF GREENHOUSE GASES

(100-YEAR TIME HORIZON)         57

TABLE 3                AVERAGE SELLING PRICE TREND OF SWITCHGEAR, BY REGION,

2021–2024              64

TABLE 4               PRICING RANGE OF SWITCHGEAR, BY VOLTAGE, 2024        65

TABLE 5                SWITCHGEAR MARKET: ROLE OF COMPANIES IN SWITCHGEAR ECOSYSTEM    67

TABLE 6                LIST OF MAJOR PATENTS PERTAINING TO SWITCHGEAR MARKET, 2022–2025             74

TABLE 7                IMPORT SCENARIO FOR HS CODE 853590-COMPLIANT PRODUCTS, BY COUNTRY, 2022–2024 (USD THOUSAND)      76

TABLE 8                EXPORT SCENARIO FOR HS CODE 853590-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2022 (USD THOUSAND)      78

TABLE 9                IMPORT SCENARIO FOR HS CODE 853690-COMPLIANT PRODUCTS, BY COUNTRY, 2022–2024 (USD THOUSAND)      79

TABLE 10              EXPORT SCENARIO FOR HS CODE 853690-COMPLIANT PRODUCTS, BY COUNTRY, 2022–2024 (USD THOUSAND)      81

TABLE 11              LIST OF KEY CONFERENCES AND EVENTS, 2022–2024        82

TABLE 12              IMPORT TARIFF FOR HS CODE 853590-COMPLIANT PRODUCTS, 2024    83

TABLE 13              IMPORT TARIFF FOR HS CODE 853690-COMPLIANT PRODUCTS, 2024    84

TABLE 14              NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  85

TABLE 15              EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 86

TABLE 16              ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  87

TABLE 17              MIDDLE EAST & AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             88

TABLE 18              SOUTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             88

TABLE 19              SWITCHGEAR: CODES AND REGULATIONS                 89

TABLE 20              SWITCHGEAR MARKET: IMPACT OF PORTER’S FIVE FORCES      91

TABLE 21              INFLUENCE OF KEY STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END USERS (%)           93

TABLE 22              KEY BUYING CRITERIA FOR TOP THREE END USERS   94

TABLE 23              US-ADJUSTED RECIPROCAL TARIFF RATES                 101

TABLE 24              KEY PRODUCT-RELATED TARIFFS EFFECTIVE FOR SWITCHGEAR           101

TABLE 25              EXPECTED CHANGE IN PRICES AND LIKELY IMPACT ON END USER MARKET DUE TO TARIFF IMPACT                 102

TABLE 26              SWITCHGEAR MARKET, BY INSULATION, 2021–2024 (USD BILLION)        109

TABLE 27              SWITCHGEAR MARKET, BY INSULATION,2025–2030 (USD BILLION)        109

TABLE 28              AIR-INSULATED SWITCHGEAR: SWITCHGEAR MARKET, BY REGION,

2021–2024 (USD BILLION)             110

TABLE 29              AIR-INSULATED SWITCHGEAR: SWITCHGEAR MARKET, BY REGION,

2025–2030 (USD BILLION)             110

TABLE 30              GAS-INSULATED SWITCHGEAR: SWITCHGEAR MARKET, BY REGION,

2021–2024 (USD BILLION)             111

TABLE 31              GAS-INSULATED SWITCHGEAR: SWITCHGEAR MARKET, BY REGION,

2025–2030 (USD BILLION)             111

TABLE 32              OTHER INUSLATION TYPES: SWITCHGEAR MARKET, BY REGION,

2021–2024 (USD BILLION)             112

TABLE 33              OTHER INUSLATION TYPES: SWITCHGEAR MARKET, BY REGION,

2025–2030 (USD BILLION)             113

TABLE 34              SWITCHGEAR MARKET, BY INSTALLATION, 2021–2024 (USD BILLION)             116

TABLE 35              SWITCHGEAR MARKET, BY INSTALLATION, 2025–2030 (USD BILLION)             116

TABLE 36              INDOOR: SWITCHGEAR MARKET, BY REGION, 2021–2024 (USD BILLION)             117

TABLE 37              INDOOR: SWITCHGEAR MARKET, BY REGION, 2025–2030 (USD BILLION)             117

TABLE 38              OUTDOOR: SWITCHGEAR MARKET, BY REGION, 2021–2024 (USD BILLION)             118

TABLE 39              OUTDOOR: SWITCHGEAR MARKET, BY REGION, 2025–2030 (USD BILLION)             119

TABLE 40              SWITCHGEAR MARKET, BY VOLTAGE, 2021–2024 (USD BILLION) 122

TABLE 41              SWITCHGEAR MARKET, BY VOLTAGE, 2025–2030 (USD BILLION) 122

TABLE 42              LOW (UP TO 1 KV): SWITCHGEAR MARKET, BY REGION, 2021–2024 (USD BILLION)           123

TABLE 43              LOW (UP TO 1 KV): SWITCHGEAR MARKET, BY REGION, 2025–2030 (USD BILLION)           123

TABLE 44              MEDIUM (2–36 KV): SWITCHGEAR MARKET, BY REGION,

2021–2024 (USD BILLION)             124

TABLE 45              MEDIUM (2–36 KV): SWITCHGEAR MARKET, BY REGION,

2025–2030 (USD BILLION)             125

TABLE 46              HIGH (ABOVE 36 KV): SWITCHGEAR MARKET, BY REGION,

2021–2024 (USD BILLION)             126

TABLE 47              HIGH (ABOVE 36 KV): SWITCHGEAR MARKET, BY REGION,

2025–2030 (USD BILLION)             126

TABLE 48              SWITCHGEAR MARKET, BY CURRENT, 2021–2024 (USD BILLION) 129

TABLE 49              SWITCHGEAR MARKET, BY CURRENT, 2025–2030 (USD BILLION) 129

TABLE 50              AC: SWITCHGEAR MARKET, BY REGION, 2021–2024 (USD BILLION)        130

TABLE 51              AC: SWITCHGEAR MARKET, BY REGION, 2025–2030 (USD BILLION)        130

TABLE 52              DC: SWITCHGEAR MARKET, BY REGION, 2021–2024 (USD BILLION)        131

TABLE 53              DC: SWITCHGEAR MARKET, BY REGION, 2025–2030 (USD BILLION)        132

TABLE 54              SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION) 135

TABLE 55              SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION) 135

TABLE 56              TRANSMISSION & DISTRIBUTION UTILITIES: SWITCHGEAR MARKET, BY REGION, 2021–2024 (USD BILLION)                 136

TABLE 57              TRANSMISSION & DISTRIBUTION UTILITIES: SWITCHGEAR MARKET, BY REGION, 2025–2030 (USD BILLION)                 136

TABLE 58              INDUSTRIAL: SWITCHGEAR MARKET, BY REGION, 2021–2024 (USD BILLION)           137

TABLE 59              INDUSTRIAL: SWITCHGEAR MARKET, BY REGION, 2025–2030 (USD BILLION)           138

TABLE 60              COMMERCIAL & RESIDENTIAL: SWITCHGEAR MARKET, BY REGION,

2021–2024 (USD BILLION)             139

TABLE 61              COMMERCIAL & RESIDENTIAL: SWITCHGEAR MARKET, BY REGION,

2025–2030 (USD BILLION)             139

TABLE 62              WATER & WASTEWATER: SWITCHGEAR MARKET, BY REGION,

2021–2024 (USD BILLION)             140

TABLE 63              WATER & WASTEWATER: SWITCHGEAR MARKET, BY REGION,

2025–2030 (USD BILLION)             140

TABLE 64              DATA CENTERS: SWITCHGEAR MARKET, BY REGION, 2021–2024 (USD BILLION)           141

TABLE 65              DATA CENTERS: SWITCHGEAR MARKET, BY REGION, 2025–2030 (USD BILLION)           142

TABLE 66              OTHER END USERS: SWITCHGEAR MARKET, BY REGION,

2021–2024 (USD BILLION)             142

TABLE 67              OTHER END USERS: SWITCHGEAR MARKET, BY REGION,

2025–2030 (USD BILLION)             143

TABLE 68              SWITCHGEAR MARKET, BY REGION, 2021–2024 (USD BILLION) 146

TABLE 69              SWITCHGEAR MARKET, BY REGION, 2025–2030 (USD BILLION) 146

TABLE 70              SWITCHGEAR MARKET, BY REGION, 2021–2024 (UNITS)                146

TABLE 71              SWITCHGEAR MARKET, BY REGION, 2025–2030 (UNITS)                147

TABLE 72              ASIA PACIFIC: SWITCHGEAR MARKET, BY INSULATION, 2021–2024 (USD BILLION) 148

TABLE 73              ASIA PACIFIC: SWITCHGEAR MARKET, BY INSULATION, 2025–2030 (USD BILLION) 149

TABLE 74              ASIA PACIFIC: SWITCHGEAR MARKET, BY INSTALLATION,

2021–2024 (USD BILLION)             149

TABLE 75              ASIA PACIFIC: SWITCHGEAR MARKET, BY INSTALLATION,

2025–2030 (USD BILLION)             149

TABLE 76              ASIA PACIFIC: SWITCHGEAR MARKET, BY VOLTAGE, 2021–2024 (USD BILLION)       149

TABLE 77              ASIA PACIFIC: SWITCHGEAR MARKET, BY VOLTAGE, 2025–2030 (USD BILLION)       150

TABLE 78              ASIA PACIFIC: SWITCHGEAR MARKET, BY CURRENT, 2021–2024 (USD BILLION)       150

TABLE 79              ASIA PACIFIC: SWITCHGEAR MARKET, BY CURRENT, 2025–2030 (USD BILLION)       150

TABLE 80              ASIA PACIFIC: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION) 150

TABLE 81              ASIA PACIFIC: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION) 151

TABLE 82              ASIA PACIFIC: SWITCHGEAR MARKET, BY COUNTRY, 2021–2024 (USD BILLION)      151

TABLE 83              ASIA PACIFIC: SWITCHGEAR MARKET, BY COUNTRY, 2025–2030 (USD BILLION)      151

TABLE 84              CHINA: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION)             152

TABLE 85              CHINA: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION)             153

TABLE 86              INDIA: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION)             154

TABLE 87              INDIA: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION)             154

TABLE 88              JAPAN: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION)             155

TABLE 89              JAPAN: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION)             155

TABLE 90              AUSTRALIA: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION) 157

TABLE 91              AUSTRALIA: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION) 157

TABLE 92              REST OF ASIA PACIFIC: SWITCHGEAR MARKET, BY END USER,

2021–2024 (USD BILLION)             159

TABLE 93              REST OF ASIA PACIFIC: SWITCHGEAR MARKET, BY END USER,

2025–2030 (USD BILLION)             159

TABLE 94              EUROPE: SWITCHGEAR MARKET, BY INSULATION, 2021–2024 (USD BILLION) 161

TABLE 95              EUROPE: SWITCHGEAR MARKET, BY INSULATION, 2025–2030 (USD BILLION) 161

TABLE 96              EUROPE: SWITCHGEAR MARKET, BY INSTALLATION, 2021–2024 (USD BILLION)            161

TABLE 97              EUROPE: SWITCHGEAR MARKET, BY INSTALLATION, 2025–2030 (USD BILLION)            161

TABLE 98              EUROPE: SWITCHGEAR MARKET, BY VOLTAGE, 2021–2024 (USD BILLION)             162

TABLE 99              EUROPE: SWITCHGEAR MARKET, BY VOLTAGE, 2025–2030 (USD BILLION)             162

TABLE 100            EUROPE: SWITCHGEAR MARKET, BY CURRENT, 2021–2024 (USD BILLION)             162

TABLE 101            EUROPE: SWITCHGEAR MARKET, BY CURRENT, 2025–2030 (USD BILLION)             162

TABLE 102            EUROPE: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION)             163

TABLE 103            EUROPE: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION)             163

TABLE 104            EUROPE: SWITCHGEAR MARKET, BY COUNTRY, 2021–2024 (USD BILLION)             163

TABLE 105            EUROPE: SWITCHGEAR MARKET, BY COUNTRY, 2025–2030 (USD BILLION)             164

TABLE 106            GERMANY: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION) 165

TABLE 107            GERMANY: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION) 165

TABLE 108            UK: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION)        166

TABLE 109            UK: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION)        167

TABLE 110            FRANCE: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION)             168

TABLE 111            FRANCE: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION)             168

TABLE 112            ITALY: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION)             169

TABLE 113            ITALY: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION)             169

TABLE 114            REST OF EUROPE: SWITCHGEAR MARKET, BY END USER,

2021–2024 (USD BILLION)             170

TABLE 115            REST OF EUROPE: SWITCHGEAR MARKET, BY END USER,

2025–2030 (USD BILLION)             171

TABLE 116            NORTH AMERICA: SWITCHGEAR MARKET, BY INSULATION,

2021–2024 (USD BILLION)             171

TABLE 117            NORTH AMERICA: SWITCHGEAR MARKET, BY INSULATION,

2025–2030 (USD BILLION)             172

TABLE 118            NORTH AMERICA: SWITCHGEAR MARKET, BY INSTALLATION,

2021–2024 (USD BILLION)             172

TABLE 119            NORTH AMERICA: SWITCHGEAR MARKET, BY INSTALLATION,

2025–2030 (USD BILLION)             172

TABLE 120            NORTH AMERICA: SWITCHGEAR MARKET, BY VOLTAGE, 2021–2024 (USD BILLION)       172

TABLE 121            NORTH AMERICA: SWITCHGEAR MARKET, BY VOLTAGE, 2025–2030 (USD BILLION)       173

TABLE 122            NORTH AMERICA: SWITCHGEAR MARKET, BY CURRENT,

2021–2024 (USD BILLION)             173

TABLE 123            NORTH AMERICA: SWITCHGEAR MARKET, BY CURRENT,

2025–2030 (USD BILLION)             173

TABLE 124            NORTH AMERICA: SWITCHGEAR MARKET, BY END USER,

2021–2024 (USD BILLION)             173

TABLE 125            NORTH AMERICA: SWITCHGEAR MARKET, BY END USER,

2025–2030 (USD BILLION)             174

TABLE 126            NORTH AMERICA: SWITCHGEAR MARKET, BY COUNTRY,

2021–2024 (USD BILLION)             174

TABLE 127            NORTH AMERICA: SWITCHGEAR MARKET, BY COUNTRY,

2025–2030 (USD BILLION)             174

TABLE 128            US: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION)        175

TABLE 129            US: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION)        176

TABLE 130            CANADA: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION)             177

TABLE 131            CANADA: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION)             177

TABLE 132            MEXICO: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION)             178

TABLE 133            MEXICO: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION)             178

TABLE 134          MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY INSULATION,

2021–2024 (USD BILLION)             179

TABLE 135          MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY INSULATION,

2025–2030 (USD BILLION)             179

TABLE 136          MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY INSTALLATION,

2021–2024 (USD BILLION)             180

TABLE 137          MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY INSTALLATION,

2025–2030 (USD BILLION)             180

TABLE 138          MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY VOLTAGE,

2021–2024 (USD BILLION)             180

TABLE 139          MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY VOLTAGE,

2025–2030 (USD BILLION)             180

TABLE 140            MIDDLE EAST & ARICA: SWITCHGEAR MARKET, BY CURRENT,

2021–2024 (USD BILLION)             181

TABLE 141          MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY CURRENT,

2025–2030 (USD BILLION)             181

TABLE 142          MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY END USER,

2021–2024 (USD BILLION)             181

TABLE 143          MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY END USER,

2025–2030 (USD BILLION)             182

TABLE 144          MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY COUNTRY,

2021–2024 (USD BILLION)             182

TABLE 145          MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY COUNTRY,

2025–2030 (USD BILLION)             182

TABLE 146            GCC: SWITCHGEAR MARKET, BY COUNTRY, 2021–2024 (USD BILLION)             183

TABLE 147            GCC: SWITCHGEAR MARKET, BY COUNTRY, 2025–2030 (USD BILLION)             183

TABLE 148            UAE: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION)             184

TABLE 149            UAE: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION)             185

TABLE 150            SAUDI ARABIA: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION) 186

TABLE 151            SAUDI ARABIA: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION) 186

TABLE 152            REST OF GCC: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION) 187

TABLE 153            REST OF GCC: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION) 188

TABLE 154            EGYPT: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION)             189

TABLE 155            EGYPT: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION)             189

TABLE 156            SOUTH AFRICA: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION) 190

TABLE 157            SOUTH AFRICA: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION) 190

TABLE 158            REST OF MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY END USER,

2021–2024 (USD BILLION)             191

TABLE 159            REST OF MIDDLE EAST & AFRICA: SWITCHGEAR MARKET, BY END USER,

2025–2030 (USD BILLION)             191

TABLE 160            SOUTH AMERICA: SWITCHGEAR MARKET, BY INSULATION,

2021–2024 (USD BILLION)             192

TABLE 161            SOUTH AMERICA: SWITCHGEAR MARKET, BY INSULATION,

2025–2030 (USD BILLION)             193

TABLE 162            SOUTH AMERICA: SWITCHGEAR MARKET, BY INSTALLATION,

2021–2024 (USD BILLION)             193

TABLE 163            SOUTH AMERICA: SWITCHGEAR MARKET, BY INSTALLATION,

2025–2030 (USD BILLION)             193

TABLE 164            SOUTH AMERICA: SWITCHGEAR MARKET, BY VOLTAGE, 2021–2024 (USD BILLION)       193

TABLE 165            SOUTH AMERICA: SWITCHGEAR MARKET, BY VOLTAGE, 2025–2030 (USD BILLION)       194

TABLE 166            SOUTH AMERICA: SWITCHGEAR MARKET, BY CURRENT,

2021–2024 (USD BILLION)             194

TABLE 167            SOUTH AMERICA: SWITCHGEAR MARKET, BY CURRENT,

2025–2030 (USD BILLION)             194

TABLE 168            SOUTH AMERICA: SWITCHGEAR MARKET, BY END USER,

2021–2024 (USD BILLION)             194

TABLE 169            SOUTH AMERICA: SWITCHGEAR MARKET, BY END USER,

2025–2030 (USD BILLION)             195

TABLE 170            SOUTH AMERICA: SWITCHGEAR MARKET, BY COUNTRY,

2021–2024 (USD BILLION)             195

TABLE 171            SOUTH AMERICA: SWITCHGEAR MARKET, BY COUNTRY,

2025–2030 (USD BILLION)             195

TABLE 172            BRAZIL: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION)             196

TABLE 173            BRAZIL: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION)             197

TABLE 174            ARGENTINA: SWITCHGEAR MARKET, BY END USER, 2021–2024 (USD BILLION) 198

TABLE 175            ARGENTINA: SWITCHGEAR MARKET, BY END USER, 2025–2030 (USD BILLION) 198

TABLE 176            REST OF SOUTH AMERICA: SWITCHGEAR MARKET, BY END USER,

2021–2024 (USD BILLION)             199

TABLE 177            REST OF SOUTH AMERICA: SWITCHGEAR MARKET, BY END USER,

2025–2030 (USD BILLION)             199

TABLE 178            SWITCHGEAR MARKET: OVERVIEW OF STRATEGIES ADOPTED

BY PLAYERS, MAY 2022–JUNE 2025             200

TABLE 179            SWITCHGEAR MARKET: DEGREE OF COMPETITION 202

TABLE 180            SWITCHGEAR MARKET: REGION FOOTPRINT                 212

TABLE 181            SWITCHGEAR MARKET: INSULATION FOOTPRINT       213

TABLE 182            SWITCHGEAR MARKET: INSTALLATION FOOTPRINT       214

TABLE 183            SWITCHGEAR MARKET: END USE FOOTPRINT                 215

TABLE 184            SWITCHGEAR MARKET: DETAILED LIST OF KEY STARTUPS/SMES              218

TABLE 185            SWITCHGEAR MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES          219

TABLE 186            SWITCHGEAR MARKET: PRODUCT LAUNCHES, MAY 2022–JUNE 2025       220

TABLE 187            SWITCHGEAR MARKET: DEALS, MAY 2022–JUNE 2025        223

TABLE 188            SWITCHGEAR MARKET: EXPANSIONS, MAY 2022–JUNE 2025  228

TABLE 189            SWITCHGEAR MARKET: OTHER DEVELOPMENTS, MAY 2022–JUNE 2025  230

TABLE 190            SCHNEIDER ELECTRIC: COMPANY OVERVIEW                 238

TABLE 191            SCHNEIDER ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED    239

TABLE 192            SCHNEIDER ELECTRIC: PRODUCT LAUNCHES                 241

TABLE 193            SCHNEIDER ELECTRIC: DEALS  242

TABLE 194            SCHNEIDER ELECTRIC: EXPANSIONS     242

TABLE 195            SCHNEIDER ELECTRIC: OTHER DEVELOPMENTS              243

TABLE 196            SIEMENS: COMPANY OVERVIEW               246

TABLE 197            SIEMENS: PRODUCTS/SOLUTIONS/SERVICES OFFERED             247

TABLE 198            SIEMENS: PRODUCT LAUNCHES               249

TABLE 199            SIEMENS: DEALS               250

TABLE 200            SIEMENS: OTHER DEVELOPMENTS         251

TABLE 201            ABB: COMPANY OVERVIEW         253

TABLE 202            ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED             254

TABLE 203            ABB: PRODUCT LAUNCHES         257

TABLE 204            ABB: DEALS        258

TABLE 205            ABB: EXPANSIONS           259

TABLE 206            ABB: OTHER DEVELOPMENTS   260

TABLE 207            HITACHI, LTD.: COMPANY OVERVIEW   262

TABLE 208            HITACHI, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    263

TABLE 209            HITACHI, LTD.: PRODUCT LAUNCHES   265

TABLE 210            HITACHI, LTD.: DEALS  265

TABLE 211            HITACHI, LTD.: EXPANSIONS     266

TABLE 212            HITACHI, LTD.: OTHER DEVELOPMENTS                 266

TABLE 213            EATON: COMPANY OVERVIEW  269

TABLE 214            EATON: PRODUCTS/SOLUTIONS/SERVICES OFFERED             270

TABLE 215            EATON: PRODUCT LAUNCHES  273

TABLE 216            EATON: DEALS 274

TABLE 217            EATON: OTHER DEVELOPMENTS            275

TABLE 218            GE VERNOVA: COMPANY OVERVIEW      278

TABLE 219            GE VERNOVA: PRODUCTS/SOLUTIONS/SERVICES OFFERED    279

TABLE 220            GE VERNOVA: PRODUCT LAUNCHES      280

TABLE 221            GE VERNOVA: DEALS     281

TABLE 222            GE VERNOVA: EXPANSIONS        282

TABLE 223            GE VERNOVA: OTHER DEVELOPMENTS                 282

TABLE 224            MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW   284

TABLE 225            MITSUBISHI ELECTRIC CORPORATION:

PRODUCTS/SOLUTIONS/SERVICES OFFERED    285

TABLE 226            MITSUBISHI ELECTRIC CORPORATION: OTHER DEVELOPMENTS              287

TABLE 227            POWELL INDUSTRIES: COMPANY OVERVIEW                 288

TABLE 228            POWELL INDUSTRIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED    289

TABLE 229            HUBBELL: COMPANY OVERVIEW              292

TABLE 230            HUBBELL: PRODUCTS/SOLUTIONS/SERVICES OFFERED             293

TABLE 231            HUBBELL: DEALS             295

TABLE 232            HD HYUNDAI ELECTRIC CO., LTD.: COMPANY OVERVIEW          296

TABLE 233            HD HYUNDAI ELECTRIC CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    297

TABLE 234            HD HYUNDAI ELECTRIC CO., LTD: DEVELOPMENTS              298

TABLE 235            TOSHIBA CORPORATION: COMPANY OVERVIEW          299

TABLE 236            TOSHIBA CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED    300

TABLE 237            TOSHIBA CORPORATION: DEVELOPMENTS                 303

TABLE 238            BHARAT HEAVY ELECTRICALS LIMITED: COMPANY OVERVIEW   304

TABLE 239            BHARAT HEAVY ELECTRICALS LIMITED:

PRODUCTS/SOLUTIONS/SERVICES OFFERED    305

TABLE 240            BHARAT HEAVY ELECTRICALS LIMITED: DEVELOPMENTS              306

TABLE 241            CG POWER & INDUSTRIAL SOLUTIONS LTD.: COMPANY OVERVIEW   307

TABLE 242            CG POWER & INDUSTRIAL SOLUTIONS LTD.:

PRODUCTS/SOLUTIONS/SERVICES OFFERED    308

TABLE 243            CG POWER & INDUSTRIAL SOLUTIONS LTD: DEALS  309

TABLE 244            CG POWER & INDUSTRIAL SOLUTIONS LTD: EXPANSIONS     310

TABLE 245            HYOSUNG HEAVY INDUSTRIES: COMPANY OVERVIEW          311

TABLE 246            HYOSUNG HEAVY INDUSTRIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED    312

TABLE 247            HYOSUNG HEAVY INDUSTRIES : DEVELOPMENTS              314

TABLE 248            FUJI ELECTRIC CO., LTD.: COMPANY OVERVIEW                 315

TABLE 249            FUJI ELECTRIC CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    317

TABLE 250            FUJI ELECTRIC CO., LTD: DEVELOPMENTS                 318

TABLE 251            WEG: COMPANY OVERVIEW       319

TABLE 252            WEG: PRODUCTS/SOLUTIONS/SERVICES OFFERED             321

TABLE 253            WEG: DEALS       321

TABLE 254            WEG: OTHER DEVELOPMENTS 322

TABLE 255            DOHO ELECTRIC: COMPANY OVERVIEW                 323

TABLE 256            DOHO ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED    323

TABLE 257            LUCY GROUP LTD.: COMPANY OVERVIEW                 325

TABLE 258            LUCY GROUP LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    326

TABLE 259            LS ELECTRIC CO., LTD: COMPANY OVERVIEW                 327

TABLE 260            LS ELECTRIC CO., LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED    328

TABLE 261            LS ELECTRIC CO.,LTD: DEALS   330

TABLE 262            LS ELECTRIC CO., LTD: OTHER DEVELOPMENTS              331

TABLE 263            CHINT GROUP: COMPANY OVERVIEW   332

TABLE 264            CHINT GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED    332

TABLE 265            CHINT GROUP: DEALS  334

LIST OF FIGURES

FIGURE 1              SWITCHGEAR MARKET SEGMENTATION AND REGIONAL SCOPE            27

FIGURE 2              SWITCHGEAR MARKET: RESEARCH DESIGN                 32

FIGURE 3              DATA TRIANGULATION METHODOLOGY                 33

FIGURE 4              KEY INDUSTRY INSIGHTS             38

FIGURE 5              METRICS CONSIDERED FOR ANALYZING AND ASSESSING

DEMAND FOR SWITCHGEAR      38

FIGURE 6              MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH              39

FIGURE 7              MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH                39

FIGURE 8              KEY STEPS CONSIDERED FOR ASSESSING SUPPLY OF SWITCHGEARS          42

FIGURE 9              SWITCHGEAR MARKET: SUPPLY-SIDE ANALYSIS                 42

FIGURE 10            ASIA PACIFIC CLAIMED LARGEST MARKET SHARE IN 2024   46

FIGURE 11            AIR-INSULATED SWITCHGEAR SEGMENT TO LEAD MARKET IN 2030   47

FIGURE 12            INDOOR SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2025 47

FIGURE 13            HIGH (ABOVE 36 KV) SEGMENT TO DOMINATE MARKET IN 2025                48

FIGURE 14            AC SEGMENT TO SECURE LARGER MARKET SHARE IN 2025   48

FIGURE 15            TRANSMISSION & DISTRIBUTION UTILITIES SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD                49

FIGURE 16            ONGOING DEVELOPMENTS IN MICROPROCESSORS AND SENSORS TO

DRIVE MARKET 50

FIGURE 17            ASIA PACIFIC TO DISPLAY HIGHEST CAGR DURING FORECAST PERIOD       50

FIGURE 18            TRANSMISSION & DISTRIBUTION UTILITIES AND CHINA HELD LARGEST MARKET SHARES IN 2024    51

FIGURE 19            AIR-INSULATED SWITCHGEAR SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030             51

FIGURE 20            INDOOR SEGMENT TO SECURE LARGER MARKET SHARE IN 2030 52

FIGURE 21            HIGH (ABOVE 36 KV) SEGMENT TO HOLD LARGEST MARKET SHARE IN 2030             52

FIGURE 22            AC SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2030 53

FIGURE 23            TRANSMISSION & DISTRIBUTION UTILITIES SEGMENT TO LEAD MARKET IN 2030      53

FIGURE 24            SWITCHGEAR MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,

AND CHALLENGES          55

FIGURE 25           TOTAL ELECTRICITY GENERATION, BY REGION, 2010−2050            56

FIGURE 26            US DATA CENTER ENERGY CONSUMPTION, 2023–2030              59

FIGURE 27            TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS   63

FIGURE 28            AVERAGE SELLING PRICE TREND OF SWITCHGEAR, BY REGION           64

FIGURE 29            SWITCHGEAR MARKET: VALUE CHAIN ANALYSIS            65

FIGURE 30            SWITCHGEAR MARKET ECOSYSTEM       67

FIGURE 31            SWITCHGEAR MARKET: PATENTS GRANTED AND APPLIED, 2014–2024               73

FIGURE 32            IMPORT DATA FOR HS CODE 853590-COMPLIANT PRODUCTS,

BY COUNTRY, 2020–2024 (USD THOUSAND)         77

FIGURE 33            EXPORT DATA FOR HS CODE 853590-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (USD THOUSAND)      79

FIGURE 34            IMPORT DATA FOR HS CODE 853690-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (USD THOUSAND)      80

FIGURE 35            EXPORT DATA HS CODE 853690-COMPLIANT PRODUCTS, BY COUNTRY,

2020–2024 (USD THOUSAND)      82

FIGURE 36            SWITCHGEAR MARKET: PORTER’S FIVE FORCES ANALYSIS            91

FIGURE 37            INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS

FOR TOP THREE END USERS      93

FIGURE 38            BUYING CRITERIA FOR TOP THREE END USERS                 94

FIGURE 39            INVESTMENT AND FUNDING SCENARIO, 2024                 95

FIGURE 40           IMPACT OF GEN AI/AI IN SWITCHGEAR MARKET, BY REGION         98

FIGURE 41            SWITCHGEAR MARKET SHARE, BY INSULATION                 108

FIGURE 42            SWITCHGEAR MARKET SHARE, BY INSTALLATION 115

FIGURE 43            SWITCHGEAR MARKET SHARE, BY VOLTAGE                 121

FIGURE 44            SWITCHGEAR MARKET SHARE, BY CURRENT                 128

FIGURE 45            SWITCHGEAR MARKET SHARE, BY END USER                 134

FIGURE 46            ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD       145

FIGURE 47            SWITCHGEAR MARKET SHARE, BY REGION                 145

FIGURE 48            ASIA PACIFIC: SWITCHGEAR MARKET SNAPSHOT          148

FIGURE 49            EUROPE: SWITCHGEAR MARKET SNAPSHOT                 160

FIGURE 50            MARKET SHARE ANALYSIS OF COMPANIES OFFERING SWITCHGEAR, 2024   203

FIGURE 51            SWITCHGEAR MARKET: REVENUE ANALYSIS OF FIVE KEY PLAYERS, 2020–2024      206

FIGURE 52            COMPANY VALUATION 207

FIGURE 53            FINANCIAL METRICS      207

FIGURE 54            BRAND/PRODUCT COMPARISON             208

FIGURE 55            SWITCHGEAR MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024         210

FIGURE 56            SWITCHGEAR MARKET: COMPANY FOOTPRINT                 211

FIGURE 57            SWITCHGEAR MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024 217

FIGURE 58            SCHNEIDER ELECTRIC: COMPANY SNAPSHOT                 238

FIGURE 59            SIEMENS: COMPANY SNAPSHOT               247

FIGURE 60            ABB: COMPANY SNAPSHOT        254

FIGURE 61            HITACHI, LTD.: COMPANY SNAPSHOT  263

FIGURE 62            EATON: COMPANY SNAPSHOT  270

FIGURE 63            GE VERNOVA: COMPANY SNAPSHOT     279

FIGURE 64            MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT   285

FIGURE 65            POWELL INDUSTRIES: COMPANY SNAPSHOT                 289

FIGURE 66            HUBBELL: COMPANY SNAPSHOT             293

FIGURE 67            HD HYUNDAI ELECTRIC CO., LTD.: COMPANY SNAPSHOT          297

FIGURE 68            TOSHIBA CORPORATION: COMPANY SNAPSHOT          300

FIGURE 69            BHARAT HEAVY ELECTRICALS LIMITED: COMPANY SNAPSHOT   305

FIGURE 70            CG POWER & INDUSTRIAL SOLUTIONS LTD.: COMPANY SNAPSHOT   308

FIGURE 71            HYOSUNG HEAVY INDUSTRIES: COMPANY SNAPSHOT          312

FIGURE 72            FUJI ELECTRIC CO., LTD.: COMPANY SNAPSHOT                 316

FIGURE 73            WEG: COMPANY SNAPSHOT       320

FIGURE 74            LS ELECTRIC CO., LTD: COMPANY SNAPSHOT                 328

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