The utility scale switchgear market size has grown strongly in recent years. It will grow from $16.82 billion in 2024 to $18.05 billion in 2025 at a compound annual growth rate (CAGR) of 7.3%. Growth during the historic period can be attributed to the increasing demand for reliable electricity distribution, rising investments in grid infrastructure, greater integration of renewable energy sources, accelerating industrialization in emerging economies, and a growing need for advanced protection systems.
The utility scale switchgear market size is expected to see strong growth in the next few years. It will grow to $23.64 billion in 2029 at a compound annual growth rate (CAGR) of 7%. Growth in the forecast period is expected to be driven by the rising adoption of smart grid technologies, increasing electrification across transport and industry sectors, a stronger focus on grid modernization, expanding renewable energy capacity, and the growing need for energy efficiency and automation. Key trends anticipated include advancements in digital switchgear technologies, deeper integration of IoT and AI, innovations in eco-friendly and sustainable materials, progress in remote monitoring and control systems, and the development of compact and modular switchgear designs.
Rising inclination towards renewable energy is expected to drive growth in the utility-scale switchgear market. Renewable energy refers to power generated from natural sources that are constantly replenished, such as sunlight, wind, and water. This growing shift is largely driven by environmental concerns and the need for energy security, as renewables help reduce carbon emissions and dependence on fossil fuels. Utility-scale switchgear plays a critical role in this transition by efficiently managing power flow, protecting electrical infrastructure, and ensuring reliable transmission from variable energy sources - like solar and wind - into the grid. For example, in 2023, according to the International Energy Agency (IEA), global renewable capacity additions reached a record 507 gigawatts, a 50% increase from 2022, largely driven by solar PV and wind installations. As a result, the rising adoption of renewable energy is fueling demand for utility-scale switchgear.
Companies in the utility-scale switchgear market are focusing on innovations such as domestic assembly to speed up delivery and improve grid compliance. Domestic integration refers to assembling and configuring systems within the target country, helping reduce shipping times, streamline deployment, and meet local regulatory standards. For instance, in May 2025, SMA America, a subsidiary of a Germany-based solar energy company, announced the domestic integration of its Medium Voltage Power Station (MVPS) solutions. Designed for utility-scale solar projects, the MVPS is a turnkey, containerized system that includes inverters, transformers, and switchgear - all pre-assembled and UL 1741 certified. This localized production enhances availability, simplifies installation, and ensures compliance with grid requirements.
In November 2024, Flex, a US-based advanced electronics manufacturing company, acquired Crown Technical Systems for $325 million. This acquisition strengthens Flex’s capabilities in power electronics and precision engineering, allowing it to better serve high-growth sectors such as electric vehicles, renewable energy, and industrial infrastructure. Crown Technical Systems is a US-based manufacturer specializing in utility-scale switchgear.
Major players in the utility scale switchgear market are Hitachi Ltd., Siemens Aktiengesellschaft, General Electric Company, Schneider Electric SE, Mitsubishi Electric Corporation, Asea Brown Boveri Ltd., Eaton Corporation Plc, NARI Technology Co. Ltd., Fuji Electric Co. Ltd., Vertiv Holdings Co., Hubbell Incorporated, Bharat Heavy Electricals Limited, Hyundai Electric & Energy Systems Co. Ltd., Ormazabal S.A., CG Power and Industrial Solutions Limited, C&S Electric Limited, Hyosung Heavy Industries Corporation, Lucy Group Limited, Kirloskar Electric Company Limited, LS Industrial Systems Co. Ltd.
North America was the largest region in the utility scale switchgear market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in utility scale switchgear report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the utility scale switchgear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Utility-scale switchgear refers to large electrical equipment used by power utilities to control, protect, and isolate electrical circuits within high-voltage power transmission and distribution systems. It ensures the safe and reliable operation of the electrical grid by managing electricity flow and preventing faults.
The main types of utility-scale switchgear are gas-insulated switchgear (GIS) and air-insulated switchgear (AIS). Gas-insulated switchgear (GIS) is a compact, metal-enclosed system that uses sulfur hexafluoride (SF₆) gas as an insulating medium to safely handle high-voltage electrical power. The primary distribution channels include direct sales and distributors. Key end users comprise power plants, substations, and industrial facilities.
The utility-scale switchgear market research report is one of a series of new reports that provides utility-scale switchgear market statistics, including the utility-scale switchgear industry global market size, regional shares, competitors with the utility-scale switchgear market share, detailed utility-scale switchgear market segments, market trends, and opportunities, and any further data you may need to thrive in the utility-scale switchgear industry. This utility-scale switchgear market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The utility scale switchgear market consists of sales of vacuum switchgears, and hybrid switchgears. 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.
This product will be delivered within 3-5 business days.
The utility scale switchgear market size is expected to see strong growth in the next few years. It will grow to $23.64 billion in 2029 at a compound annual growth rate (CAGR) of 7%. Growth in the forecast period is expected to be driven by the rising adoption of smart grid technologies, increasing electrification across transport and industry sectors, a stronger focus on grid modernization, expanding renewable energy capacity, and the growing need for energy efficiency and automation. Key trends anticipated include advancements in digital switchgear technologies, deeper integration of IoT and AI, innovations in eco-friendly and sustainable materials, progress in remote monitoring and control systems, and the development of compact and modular switchgear designs.
Rising inclination towards renewable energy is expected to drive growth in the utility-scale switchgear market. Renewable energy refers to power generated from natural sources that are constantly replenished, such as sunlight, wind, and water. This growing shift is largely driven by environmental concerns and the need for energy security, as renewables help reduce carbon emissions and dependence on fossil fuels. Utility-scale switchgear plays a critical role in this transition by efficiently managing power flow, protecting electrical infrastructure, and ensuring reliable transmission from variable energy sources - like solar and wind - into the grid. For example, in 2023, according to the International Energy Agency (IEA), global renewable capacity additions reached a record 507 gigawatts, a 50% increase from 2022, largely driven by solar PV and wind installations. As a result, the rising adoption of renewable energy is fueling demand for utility-scale switchgear.
Companies in the utility-scale switchgear market are focusing on innovations such as domestic assembly to speed up delivery and improve grid compliance. Domestic integration refers to assembling and configuring systems within the target country, helping reduce shipping times, streamline deployment, and meet local regulatory standards. For instance, in May 2025, SMA America, a subsidiary of a Germany-based solar energy company, announced the domestic integration of its Medium Voltage Power Station (MVPS) solutions. Designed for utility-scale solar projects, the MVPS is a turnkey, containerized system that includes inverters, transformers, and switchgear - all pre-assembled and UL 1741 certified. This localized production enhances availability, simplifies installation, and ensures compliance with grid requirements.
In November 2024, Flex, a US-based advanced electronics manufacturing company, acquired Crown Technical Systems for $325 million. This acquisition strengthens Flex’s capabilities in power electronics and precision engineering, allowing it to better serve high-growth sectors such as electric vehicles, renewable energy, and industrial infrastructure. Crown Technical Systems is a US-based manufacturer specializing in utility-scale switchgear.
Major players in the utility scale switchgear market are Hitachi Ltd., Siemens Aktiengesellschaft, General Electric Company, Schneider Electric SE, Mitsubishi Electric Corporation, Asea Brown Boveri Ltd., Eaton Corporation Plc, NARI Technology Co. Ltd., Fuji Electric Co. Ltd., Vertiv Holdings Co., Hubbell Incorporated, Bharat Heavy Electricals Limited, Hyundai Electric & Energy Systems Co. Ltd., Ormazabal S.A., CG Power and Industrial Solutions Limited, C&S Electric Limited, Hyosung Heavy Industries Corporation, Lucy Group Limited, Kirloskar Electric Company Limited, LS Industrial Systems Co. Ltd.
North America was the largest region in the utility scale switchgear market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in utility scale switchgear report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the utility scale switchgear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Utility-scale switchgear refers to large electrical equipment used by power utilities to control, protect, and isolate electrical circuits within high-voltage power transmission and distribution systems. It ensures the safe and reliable operation of the electrical grid by managing electricity flow and preventing faults.
The main types of utility-scale switchgear are gas-insulated switchgear (GIS) and air-insulated switchgear (AIS). Gas-insulated switchgear (GIS) is a compact, metal-enclosed system that uses sulfur hexafluoride (SF₆) gas as an insulating medium to safely handle high-voltage electrical power. The primary distribution channels include direct sales and distributors. Key end users comprise power plants, substations, and industrial facilities.
The utility-scale switchgear market research report is one of a series of new reports that provides utility-scale switchgear market statistics, including the utility-scale switchgear industry global market size, regional shares, competitors with the utility-scale switchgear market share, detailed utility-scale switchgear market segments, market trends, and opportunities, and any further data you may need to thrive in the utility-scale switchgear industry. This utility-scale switchgear market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The utility scale switchgear market consists of sales of vacuum switchgears, and hybrid switchgears. 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.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Utility Scale Switchgear Market Characteristics3. Utility Scale Switchgear Market Trends And Strategies4. Utility Scale Switchgear Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Trade Wars and Tariffs, And Covid And Recovery On The Market32. Global Utility Scale Switchgear Market Competitive Benchmarking And Dashboard33. Key Mergers And Acquisitions In The Utility Scale Switchgear Market34. Recent Developments In The Utility Scale Switchgear Market
5. Global Utility Scale Switchgear Growth Analysis And Strategic Analysis Framework
6. Utility Scale Switchgear Market Segmentation
7. Utility Scale Switchgear Market Regional And Country Analysis
8. Asia-Pacific Utility Scale Switchgear Market
9. China Utility Scale Switchgear Market
10. India Utility Scale Switchgear Market
11. Japan Utility Scale Switchgear Market
12. Australia Utility Scale Switchgear Market
13. Indonesia Utility Scale Switchgear Market
14. South Korea Utility Scale Switchgear Market
15. Western Europe Utility Scale Switchgear Market
16. UK Utility Scale Switchgear Market
17. Germany Utility Scale Switchgear Market
18. France Utility Scale Switchgear Market
19. Italy Utility Scale Switchgear Market
20. Spain Utility Scale Switchgear Market
21. Eastern Europe Utility Scale Switchgear Market
22. Russia Utility Scale Switchgear Market
23. North America Utility Scale Switchgear Market
24. USA Utility Scale Switchgear Market
25. Canada Utility Scale Switchgear Market
26. South America Utility Scale Switchgear Market
27. Brazil Utility Scale Switchgear Market
28. Middle East Utility Scale Switchgear Market
29. Africa Utility Scale Switchgear Market
30. Utility Scale Switchgear Market Competitive Landscape And Company Profiles
31. Utility Scale Switchgear Market Other Major And Innovative Companies
35. Utility Scale Switchgear Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Utility Scale Switchgear Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on utility scale switchgear market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for utility scale switchgear ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The utility scale switchgear market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Gas-Insulated Switchgear (GIS); Air-Insulated Switchgear (AIS)2) By Distribution Channel: Direct; Distributor
3) By End User: Power Generation; Power Transmission & Distribution; Industrial Manufacturing; Oil & Gas; Utilities
Subsegment:
1) By Gas-Insulated Switchgear (GIS): High Voltage Gas-Insulated Switchgear; Medium Voltage Gas-Insulated Switchgear; Low Voltage Gas-Insulated Switchgear2) By Air-Insulated Switchgear (AIS): High Voltage Air-Insulated Switchgear; Medium Voltage Air-Insulated Switchgear; Low Voltage Air-Insulated Switchgear
Key Companies Profiled: Hitachi Ltd.; Siemens Aktiengesellschaft; General Electric Company; Schneider Electric SE; Mitsubishi Electric Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Hitachi Ltd.
- Siemens Aktiengesellschaft
- General Electric Company
- Schneider Electric SE
- Mitsubishi Electric Corporation
- Asea Brown Boveri Ltd.
- Eaton Corporation Plc
- NARI Technology Co. Ltd.
- Fuji Electric Co. Ltd.
- Vertiv Holdings Co.
- Hubbell Incorporated
- Bharat Heavy Electricals Limited
- Hyundai Electric & Energy Systems Co. Ltd.
- Ormazabal S.A.
- CG Power and Industrial Solutions Limited
- C&S Electric Limited
- Hyosung Heavy Industries Corporation
- Lucy Group Limited
- Kirloskar Electric Company Limited
- LS Industrial Systems Co. Ltd.