Utility Scale Switchgear Global Market Report 2025

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.

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