Switchgear 2019 Global Market Growth, Size, Share, Demand, Trends and Forecasts to 2026


The global switchgears market is likely to derive growth from the increasing product variations and availability in a wide range of voltages and power ratings. According to a report published by Fortune Business Insights, titled “Switchgear Market Size, Share & Industry Analysis, By Insulation (Gas, Air, Oil, Vacuum), By Voltage (Low, Medium, High), By End-User (T&D Utility, Industrial, Commercial & Residential), By Installation (Indoor, Outdoor) and Regional Forecast, 2019-2026,” the market was valued at USD 98.08 Billion in 2018 is projected to reach USD 168.17 Billion by 2026, exhibiting a CAGR of 6.84% during the forecast period.


Top Players
·         ABB
·         Schneider Electric
·         Hitachi
·         Kirloskar Electric Co. Ltd.
·         Hubbell Incorporated
·         Mitsubishi Electric
·         Siemens Energy
·         Toshiba International Corporation
·         CG Power and Industrial Solutions Limited
·         Fuji Electric Co., LTD.
·         Powell
·         L&T Electrical & Automation
·         HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD.
·         Hyosung Corporation
·         Lucy Electric
·         E+I Engineering

Key Market Driver –

·         Growing demand in transmission & distribution infrastructure in emerging economies.
·         Emerging Small and Medium enterprises market in different sectors.
Key Market Restraint –   
·         Fluctuations in the availability of raw materials poses threat to stable prices and production costs.

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