Switchgear and Switchboard Apparatus Market Report 2026

The switchgear and switchboard apparatus market size has grown steadily in recent years. It will grow from $183.53 billion in 2025 to $191.11 billion in 2026 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to growth in industrial electrification, increasing commercial infrastructure development, early adoption of circuit protection systems, expansion of utility distribution networks, rise in residential electrification demand.

The switchgear and switchboard apparatus market size is expected to see steady growth in the next few years. It will grow to $230.3 billion in 2030 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to deployment of renewable energy installations, rising demand for digital switchboards, expansion of smart grid initiatives, growth in electric mobility infrastructure, increasing automation in industrial facilities. Major trends in the forecast period include adoption of smart and connected power distribution systems, shift toward eco friendly and sf6 free switchgear, increasing preference for compact and modular switchboards, growing integration of switchgear with renewable energy systems, expansion of remote monitoring and predictive maintenance technologies.

The projected demand for electricity generation is expected to propel the growth of the switchgear and switchboard apparatus market. Access to electricity is crucial for economic development and poverty alleviation, and the ongoing processes of industrialization and urbanization require a consistent electricity supply. The reliability of this supply largely depends on the performance of switchgear. Consequently, the increasing demand for electricity generation is driving the need for switchgear and switchboard apparatus during the forecast period. For example, in December 2023, the UK Department for Energy Security and Net Zero reported that in the fourth quarter of 2023, renewable electricity generation reached a record high of 39.9 terawatt-hours, reflecting a 4.9% increase from the same period in 2022. Additionally, renewable sources accounted for 47.3% of total electricity generation, further underscoring the growing demand for electricity generation and its impact on the switchgear and switchboard apparatus market.

Leading companies in the switchgear and switchboard apparatus market are focusing on developing innovative solutions, such as next-generation SF6-free (sulphur hexafluoride) digital medium voltage (MV) switchgear, to improve energy efficiency, reduce greenhouse gas emissions, enhance operational reliability, and support the shift toward sustainable and smart electrical infrastructure. Next-generation SF₆-free digital MV switchgear is an advanced type of electrical switchgear designed for medium-voltage power distribution systems (typically 1 kV to 36 kV) that eliminates the use of SF₆ gas, a potent greenhouse gas traditionally used for insulation and arc quenching. For example, in October 2024, Schneider Electric SE, a France-based energy management and automation company, introduced the Ringmaster AirSeT, a next-generation medium-voltage switchgear that replaces SF₆ gas with pure air and vacuum interruption technology. The Ringmaster AirSeT delivers the same performance and compactness as conventional SF₆-based systems while producing zero environmental impact. It includes digital connectivity for condition monitoring, remote control, and predictive maintenance, helping utilities and industries achieve sustainability and grid modernization objectives.

In December 2024, Integrated Power Services, LLC (IPS), a U.S.-based provider of electric motor, generator, and rotating equipment repair, engineering, and maintenance services, acquired Switchgear Solutions, Inc. to expand its low- and medium-voltage switchgear capabilities and strengthen its electrical power system solutions portfolio. This acquisition enables Integrated Power Services, LLC to enhance its capacity to provide comprehensive power distribution, control, and protection solutions across industrial and commercial sectors. Switchgear Solutions, Inc. is a U.S.-based provider of custom-engineered switchgear, motor control centers, and circuit breaker services.

Major companies operating in the switchgear and switchboard apparatus market are Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd, Bharat Heavy Electricals Limited (BHEL), Toshiba Corporation, Larsen & Toubro Limited (L&T), Eaton Corporation PLC, Fuji Electric Co. Ltd., Hubbell Incorporated, Nilsen Holdings Ltd, Hyosung Corporation, CG Power and Industrial Solutions Limited, Powell Industries Inc., Lucy Electric LLC, ROMAC Industries Inc., GEDAC ELECTRIC LTD, Kounis Group, Aussie Switchboards Pty Ltd, Elektrobudowa SA, IEM - Instrumentation Engineering & Manufacturing, CandS Electric Co. Ltd., Mastervolt B.V., HyundAI Heavy Industries Co. Ltd.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on electrical components, metals, and insulation materials have increased manufacturing costs for both switchboards and switchgear, particularly impacting industrial and commercial installations that require high volumes of specialized parts. These tariffs have disrupted imports across Asia Pacific, North America, and Europe, affecting project timelines and procurement strategies. However, they have also encouraged local manufacturing capacity, promoted sourcing diversification, and accelerated innovation in cost efficient and sustainable power distribution technologies.

The switchgear and switchboard apparatus market research report is one of a series of new reports that provides switchgear and switchboard apparatus market statistics, including switchgear and switchboard apparatus industry global market size, regional shares, competitors with a switchgear and switchboard apparatus market share, detailed switchgear and switchboard apparatus market segments, market trends and opportunities, and any further data you may need to thrive in the switchgear and switchboard apparatus industry. This switchgear and switchboard apparatus market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Switchgear is a set of switching devices employed for controlling, protecting, and managing electrical circuits and equipment. In contrast, switchboards constitute a power distribution system featuring panels with various switches and indicators, facilitating the direction and control of electricity within circuits.

The primary product categories within the realm of switchgear and switchboard apparatus are switchboard and switchgear. Switchgear functions as the apparatus responsible for controlling, regulating, and enabling or disabling electrical circuits within a power system. These products find applications across industries, manufacturing, and other sectors, serving residential, commercial, and industrial end-users.Asia-Pacific was the largest region in the switchgear and switchboard apparatus market in 2025. Western Europe was the second-largest region in the global switchgear and switchboard apparatus market share. The regions covered in the switchgear and switchboard apparatus market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the switchgear and switchboard apparatus market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The switchgear and switchboard apparatus market consists of sales of ducts, fuses, cubicles, panel boards, power switchboards, circuit breakers, control panels, fuses, generator control, metering panels, knife switches, time switches, and other switchgear and switchboard apparatus. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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