Utility Scale Switchgear Market Report 2026

The utility scale switchgear market size has grown strongly in recent years. It will grow from $18.05 billion in 2025 to $19.34 billion in 2026 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to expansion of high-voltage transmission networks, increasing electricity demand from urbanization, modernization of aging power infrastructure, growth of renewable power integration, rising investments in grid protection systems.

The utility scale switchgear market size is expected to see strong growth in the next few years. It will grow to $25.24 billion in 2030 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to increasing adoption of smart grid technologies, rising demand for resilient power infrastructure, expansion of renewable energy capacity, growing focus on predictive maintenance solutions, increasing investments in utility-scale substations. Major trends in the forecast period include increasing deployment of gas-insulated switchgear, rising adoption of digital switchgear monitoring systems, growing demand for compact substation designs, expansion of grid modernization projects, enhanced focus on fault detection and grid reliability.

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 companies operating in the utility scale switchgear market are ABB Ltd, Siemens AG, General Electric Company, Schneider Electric SE, Mitsubishi Electric Corporation, Hitachi Ltd, Eaton Corporation plc, Fuji Electric Co Ltd, Bharat Heavy Electricals Limited, CG Power and Industrial Solutions Ltd, HD Hyundai Electric & Energy Systems Co Ltd, Hyosung Heavy Industries Corporation, Ormazabal SA, Skema SA, Toshiba Corporation, Lucy Group Limited, Nissin Electric Co Ltd, CHINT Group Co Ltd, Shandong Taikai Group Co Ltd, Pinggao Group Co Ltd.

North America was the largest region in the utility scale switchgear market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the utility scale switchgear market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the utility scale switchgear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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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