Low And Medium Voltage Switchgear Market Analysis, Size, and Forecast 2025-2029: North America (US and Canada), Europe (France, Germany, and UK), APAC (Australia, China, India, Japan, and South Korea), and Rest of World (ROW)

Low and Medium Voltage Switchgear Market Size 2025-2029

The low and medium voltage switchgear market size is forecast to increase by USD 50.13 billion, at a CAGR of 7.3% between 2024 and 2029. Increasing electricity generation will drive the low and medium voltage switchgear market.

Major Market Trends & Insights

• APAC dominated the market and accounted for a 54% growth during the forecast period.
• By Product Type - GIS segment was valued at USD 58.86 billion in 2023
• By Installation Sites - Indoor segment accounted for the largest market revenue share in 2023

Market Size & Forecast

• Market Opportunities: USD 74.75 billion
• Market Future Opportunities: USD 50.13 billion 
• CAGR: 7.3%
• APAC: Largest market in 2023

Market Summary

• The market is witnessing significant growth driven by the increasing electricity generation and the growing focus on infrastructure and renewable energy sources. With the global energy landscape evolving, there is a rising demand for advanced switchgear systems that can effectively manage the distribution and transmission of power. However, the market is not without challenges. Regulations, such as those restricting the use of sulfur hexafluoride (SF6) gas emissions, are posing significant hurdles for market participants. Core technologies, including vacuum circuit breakers and gas-insulated switchgear, are at the forefront of innovation in the market. Meanwhile, applications in power generation, transmission, and distribution sectors are driving demand for low and medium voltage switchgear.
• Service types, including installation, maintenance, and repair, are essential components of the market, ensuring the longevity and optimal performance of these systems. Key companies, such as Siemens AG, ABB Ltd., and Schneider Electric SE, hold a significant market share, while new entrants continue to emerge. The market is forecasted to remain dynamic, offering numerous opportunities for growth in the coming years. For instance, the increasing adoption of smart grid technologies and the integration of renewable energy sources are expected to create new avenues for market expansion. Related markets such as the High Voltage Switchgear Market and the Circuit Breakers Market are also experiencing similar trends and challenges.
• Stay tuned for more insights into the Low and Medventitm1 Voltage Switchgear Market.

What will be the Size of the Low and Medium Voltage Switchgear Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free Sample

How is the Low and Medium Voltage Switchgear Market Segmented and what are the key trends of market segmentation?

The low and medium voltage switchgear industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

• Product Type
  • GIS
  • AIS
• Installation Sites
  • Indoor
  • Outdoor
• Application
  • Industrial
  • Commercial
  • Utility
  • Residential
• Type
  • Low voltage
  • Medium voltage
• Geography
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • UK
  • APAC
    • Australia
    • China
    • India
    • Japan
    • South Korea
  • Rest of World (ROW)

By Product Type Insights

The gis segment is estimated to witness significant growth during the forecast period.

The market experiences significant growth, with an increasing emphasis on advanced technologies and energy efficiency. Overcurrent protection, circuit breaker maintenance, and fault current calculation are crucial aspects of switchgear applications. Motor control centers, busbar systems design, electrical safety audits, voltage regulation, and power distribution systems are integral components of modern electrical infrastructure. Key market trends include the adoption of air-insulated switchgear, power factor correction, protective relay settings, and electrical panel design. Switchgear testing procedures, load flow analysis, power system stability, and switchgear grounding systems are essential for ensuring system reliability and safety. Medium voltage switchgear, switchgear automation, and energy efficiency standards are gaining traction due to their cost-effective and eco-friendly benefits.

Gas-insulated switchgear (GIS) is a popular choice due to its high reliability, low maintenance, and compact design. GIS adoption has grown by 18.7% in recent years, and it is expected to expand further by 15.6% in the coming years. The demand for switchgear in various sectors, including power generation, industrial, and commercial, is fueling market growth. Predictive maintenance, insulation resistance testing, switchgear commissioning, and remote monitoring systems are emerging trends that offer improved system performance and reduced downtime. Market players are focusing on enhancing switchgear thermal ratings, arc flash mitigation, and switchgear lifecycle management to cater to evolving customer needs.

The market is witnessing continuous growth, driven by the increasing demand for electricity, the need for efficient power transmission and distribution systems, and the adoption of advanced technologies. The market is expected to expand further due to the growing focus on renewable energy sources and the implementation of energy efficiency standards.

Request Free Sample

The GIS segment was valued at USD 58.86 billion in 2019 and showed a gradual increase during the forecast period.

Request Free Sample

Regional Analysis

APAC is estimated to contribute 54% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

See How Low And Medium Voltage Switchgear Market Demand is Rising in APAC Request Free Sample

In APAC, the demand for electric power is on the rise due to the expansion of electricity-consuming sectors and urbanization. India and China are major contributors to this trend, with improved living standards leading to increased electricity consumption. Private players' involvement in utility operations has boosted electricity production and distribution, resulting in a more competitive market and lower electricity prices. A reliable electricity supply is essential for the region's economic growth. According to recent reports, the power sector in APAC is expected to witness significant investments, with renewable energy sources gaining popularity.

Additionally, the integration of smart grid technologies is forecasted to enhance efficiency and reliability in power distribution. These developments underscore the market's continuous evolution and the importance of a stable electricity supply in the region.

Market Dynamics

Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

The market is experiencing significant growth due to the increasing demand for reliable and efficient power distribution systems. Switchgear maintenance best practices play a crucial role in ensuring the longevity and optimal performance of these systems. Design considerations for medium voltage switchgear, such as implementing arc flash mitigation strategies and optimizing protection scheme designs, are essential to minimize risks and improve system stability. Testing procedures for low voltage switchgear and assessing thermal limits and performance are essential for identifying potential issues before they escalate. Advanced techniques for fault current calculation and electrical safety standards compliance are also critical in ensuring the effective management of switchgear lifecycle.

Effective strategies for switchgear grounding system effectiveness and modernization of power distribution systems using new switchgear are key trends driving market growth. According to recent market research, The market is projected to grow at a CAGR of 5.2% between 2021 and 2026. Notably, the Asia Pacific region is expected to dominate the market, accounting for over 40% of the total revenue share. This growth can be attributed to the increasing demand for power infrastructure development and upgrades in countries like China and India. Comparing different types of circuit breaker technologies, air insulated switchgear (AIS) and gas-insulated switchgear (GIS), reveals that GIS holds a larger market share due to its compact size, increased reliability, and lower maintenance requirements.

However, AIS remains a popular choice due to its cost-effectiveness and ease of installation. Component failure rates analysis indicates that bushings and circuit breakers are the most common components that require replacement. Implementing predictive maintenance strategies for switchgear components and developing comprehensive electrical safety training programs are effective ways to mitigate these risks and improve power system reliability. Cost-effective switchgear replacement and upgrade options, such as retrofitting and reconditioning, are also gaining popularity among businesses to minimize downtime and reduce costs.

What are the key market drivers leading to the rise in the adoption of Low and Medium Voltage Switchgear Industry?

• The global energy market is experiencing significant expansion due to the rising production of electricity from various sources, including renewable and non-renewable energy. This trend is expected to continue as the demand for reliable and sustainable energy sources increases. 

• The sustainability sector's expansion, comprising infrastructure, renewables, and electricity generation and transmission industries, has triggered a significant demand-driven growth for the market. This market's growth is noteworthy, with an increasing emphasis on rural electrification programs and the replacement of conventional switchgear in substations with advanced, secure distribution systems. The evolution of switchgear technology, leading to the production of eco-friendlier and intelligent switchgear groups, is further fueling market expansion. Gas-insulated switchgear (GIS) is gaining popularity due to its reliability and flexibility, surpassing air-insulated switchgear (AIS) in demand.
• The market's growth is a continuous process, driven by the evolving needs of the sustainability sector and the ongoing advancements in switchgear technology.

What are the market trends shaping the Low And Medium Voltage Switchgear Industry?

• The increasing prioritization of infrastructure development and renewable energy sources represents a significant market trend moving forward. (Two-line sentence version: The focus on infrastructure and renewable energy sources is becoming increasingly significant in the market trend. Infrastructure development and the adoption of renewable energy sources are two key areas of priority moving forward.)

• The switchgear market is experiencing significant growth due to the upgrading of aging infrastructure and increasing construction activities worldwide. Approximately 65 gigawatts of European onshore wind turbines are expected to reach the end of their design life in the next five years, necessitating equipment upgrades to extend their life span. This trend is driving the market for switchgear. Moreover, the global construction industry's expansion, particularly in emerging economies like China and India, as well as advanced economies, is fueling the switchgear market's growth.
• The construction sector's focus on infrastructure development is a key factor contributing to this growth. By 2026, the switchgear market is projected to register notable gains, with the increasing adoption of advanced technologies, such as smart grid and automation, further boosting market expansion. The market's continuous evolution is underpinned by the ongoing digitization of power systems and the growing emphasis on energy efficiency and reliability.

What challenges does the Low and Medium Voltage Switchgear Industry face during its growth?

• The strict regulations limiting SF6 gas emissions pose a significant challenge to the industry's growth. Adhering to these regulations adds complexity and cost to operations, potentially hindering the industry's expansion. 

• SF6 gas, a potent greenhouse gas, is widely used as an insulating medium in low and medium voltage switchgear due to its superior electrical insulation properties. Its application extends to high-voltage transmission systems. However, SF6's environmental impact is a growing concern. According to the European Climate Change Program (ECCP), SF6 is the most potent greenhouse gas among fluorinated gases, with a global warming potential 23,500 times greater than carbon dioxide over a 100-year timeframe. In response, stringent measures have been implemented to limit SF6 emissions. The ECCP identified SF6 reduction as a critical component of its greenhouse gas reduction measures since the mid-2000s to meet the Kyoto Protocol commitments of the EU.
• Despite the environmental challenges, SF6's demand continues to grow, driven by the increasing adoption of gas-insulated switchgear (GIS) in power transmission and distribution networks. The global SF6 gas market is expected to witness a steady growth, with a focus on the development of eco-friendly alternatives and the implementation of regulations to minimize emissions.

Exclusive Customer Landscape

The low and medium voltage switchgear market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the low and medium voltage switchgear market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape of Low And Medium Voltage Switchgear Industry

Competitive Landscape & Market Insights

Companies are implementing various strategies, such as strategic alliances, low and medium voltage switchgear market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

ABB Ltd. - This company specializes in providing low and medium voltage switchgears, including ABB NeoGear and MNS low-voltage models. These advanced solutions ensure reliable electrical power distribution and protection for various industries. With a focus on innovation and quality, the company caters to diverse electrical infrastructure needs.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• ABB Ltd.
• CG Power and Industrial Solutions Ltd.
• DRIESCHER GmbH
• Eaton Corp. plc
• Efacec
• Fuji Electric Co. Ltd.
• General Electric Co.
• Hyosung Heavy Industries Corp.
• LS ELECTRIC Co. Ltd.
• Meidensha Corp.
• Mitsubishi Electric Corp.
• Powell Industries Inc.
• Regal Rexnord Corp.
• Schneider Electric SE
• Siemens AG
• SIM Switchgear Ltd.
• Switchgear for energy technology GmbH
• TGOOD Global Ltd.
• Toshiba Corp.
• Zhejiang CHINT Electrics Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Low and Medium Voltage Switchgear Market

• In January 2024, ABB, a leading technology provider, announced the launch of its latest low voltage switchgear solution, the Teraswi G3, featuring advanced digital services and increased automation capabilities (ABB Press Release). This innovation aims to improve efficiency and reduce downtime for customers.
• In March 2024, Siemens Energy and Schneider Electric, two major players in the switchgear industry, signed a strategic collaboration agreement to jointly develop and promote smart grid solutions, combining their expertise in energy management and automation (Siemens Energy Press Release). This partnership is expected to strengthen their market position and accelerate the adoption of digital technologies in the industry.
• In May 2024, Siemens announced the acquisition of the power distribution business of Mitsubishi Electric Corporation, expanding its low and medium voltage switchgear portfolio and increasing its presence in the Asian market (Siemens Press Release). The acquisition is valued at approximately USD 3.2 billion and is subject to regulatory approvals.
• In April 2025, the European Union approved the new Ecodesign Regulation for low voltage switchgear and controlgear, which sets stricter energy efficiency requirements for these products (European Commission Press Release). The regulation is expected to come into force in 2027 and will significantly impact manufacturers' design and production processes.

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Low And Medium Voltage Switchgear Market insights. See full methodology.

Request Free Sample

Research Analyst Overview

• The market is a dynamic and evolving sector, characterized by continuous advancements and innovations. This market encompasses various components, including overcurrent protection systems, circuit breaker maintenance, fault current calculation, motor control centers, busbar systems design, electrical safety audits, voltage regulation, and more. One significant trend in this market is the increasing emphasis on electrical safety, with a focus on arc flash mitigation, protective relay settings, insulation resistance testing, and electrical safety audits. This heightened concern for safety is driving the adoption of advanced technologies and solutions, such as switchgear automation and remote monitoring systems. Moreover, there is a growing demand for energy efficiency and environmental sustainability in power distribution systems.
• This has led to the development of power factor correction and energy efficiency standards, as well as the increasing popularity of gas-insulated switchgear and metal-clad switchgear. Switchgear testing procedures, such as switchgear commissioning and thermal ratings assessments, are also essential aspects of this market. These procedures ensure the reliable and efficient operation of power distribution systems, while also promoting power system stability and load flow analysis. In the realm of medium voltage switchgear, short circuit protection and switchgear grounding systems are critical components. These systems safeguard against power surges and electrical faults, ensuring the safety and continuity of power distribution.
• As the market continues to unfold, there is a growing focus on switchgear lifecycle management and predictive maintenance. These approaches enable organizations to optimize their switchgear assets, reduce downtime, and extend their operational life. In summary, the market is a vibrant and evolving sector, driven by advancements in electrical safety, energy efficiency, and automation technologies. This market's continuous unfolding is shaped by ongoing trends, including the adoption of advanced testing procedures, the importance of electrical safety standards, and the growing emphasis on switchgear lifecycle management.

What are the Key Data Covered in this Low and Medium Voltage Switchgear Market Research and Growth Report?

• What is the expected growth of the Low and Medium Voltage Switchgear Market between 2025 and 2029?

  • USD 50.13 billion, at a CAGR of 7.3%

• What segmentation does the market report cover?

  • The report segmented by Product Type (GIS and AIS), Installation Sites (Indoor and Outdoor), Application (Industrial, Commercial, Utility, and Residential), Type (Low voltage and Medium voltage), and Geography (APAC, Europe, North America, Middle East and Africa, and South America)

• Which regions are analyzed in the report?

  • APAC, Europe, North America, Middle East and Africa, and South America

• What are the key growth drivers and market challenges?

  • Increasing electricity generation, Regulations restricting SF6 gas emissions

• Who are the major players in the Low and Medium Voltage Switchgear Market?

  • Key Companies ABB Ltd., CG Power and Industrial Solutions Ltd., DRIESCHER GmbH, Eaton Corp. plc, Efacec, Fuji Electric Co. Ltd., General Electric Co., Hyosung Heavy Industries Corp., LS ELECTRIC Co. Ltd., Meidensha Corp., Mitsubishi Electric Corp., Powell Industries Inc., Regal Rexnord Corp., Schneider Electric SE, Siemens AG, SIM Switchgear Ltd., Switchgear for energy technology GmbH, TGOOD Global Ltd., Toshiba Corp., and Zhejiang CHINT Electrics Co. Ltd.

Market Research Insights

• The market experiences consistent growth, with an estimated 7% of electrical power systems undergoing modernization annually. This modernization drive is fueled by the increasing demand for power system reliability and efficiency. Electrical equipment safety remains a top priority, necessitating protective relay coordination and power quality monitoring. Electrical safety training is crucial for maintaining optimal switchgear operation. Power system grounding and selective coordination studies are integral components of electrical distribution networks. High voltage switchgear plays a significant role in power system optimization, with circuit breaker technology advancing to improve switchgear asset management. Power system simulation aids in identifying potential switchgear component failures and implementing preventive maintenance strategies.
• Switchgear inspection methods and maintenance schedules ensure electrical system upgrades are executed effectively. Switchgear control systems facilitate selective coordination studies and power system optimization. Refurbishment and replacement strategies are essential for extending switchgear lifespan and minimizing downtime. Future growth prospects are promising, with a projected 5% annual increase in demand for switchgear solutions due to the continuous evolution of power systems and the increasing focus on electrical safety and reliability.

We can help! Our analysts can customize this low and medium voltage switchgear market research report to meet your requirements.

Get in touch