Global DC Switchgear Market Analysis & Trends - Industry Forecast to 2030

Global DC Switchgear Market Analysis & Trends - Industry Forecast to 2030

DC Switchgear: Market Size

From $13.92 billion in 2024, the global DC Switchgear market is projected to reach $23.34 billion by 2030. Based on our analysis the market is expected to grow at a CAGR of 9.0% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include significant investment in the power supply network, quick reaction time and low unit cost, and rising shift towards electric vehicles.

Global DC Switchgear Market: Market Dynamics
The DC switchgear industry growth is likely to be boosted by the shifting preference towards energy-efficient distribution networks, as well as increased concerns about transmission network stability, security, and reliability. This will reflect positively on the demand for DC switchgears as they are significant components of DC substations. The integration of renewable power generation sources with HVDC transmission links is a growing trend in projects that are new or under development. These require constant and steady monitoring of the whole system to ensure minimum losses and protection against faults. HVDC converter stations require switchgear for their efficient operation. The market, thus, presents an opportunity for the manufacturers of DC switchgear.

On the other hand, the cyber security issues and impact of environmental conditions are likely to obstruct the profit boundaries. In addition, growing investments in renewable energy sector and increasing investment in upscaling and modernization of the railway sector will further boost for the DC switchgear market.

Impact of COVID-19 on DC Switchgear
The COVID-19 pandemic led to a substantial drop in transportation and related activities, which had an impact on energy demand, hence constraining DC switchgear market growth. The effects of the COVID-19 pandemic, including actions taken by businesses and governments to contain the spread of the virus, have resulted in a significant and swift reduction in the demand for energy. However, the DC switchgear market study finds that the demand for rail transportation is steadily expanding. Short-distance air travel can be replaced by high-speed rail. But significant investment in the power supply network is required to operate high-speed railways economically. As DC switchgear is an essential component of DC substations, opportunities for players in the DC switchgear market are anticipated to rise.

By Application
Railways Segment Dominate the Market in 2024
The railways segment made huge revenue in 2024 and growing its prominence during the forecast period. The major factors driving this segment are suburban railway, upgrade of existing metro lines, expansion, and modernization. Short-distance air travel can be replaced by high-speed rail. The increasing railway lines and their maintenance needs a different type of DC Switchgears. Reconstruction of multiple old metro stations and building new metros are also driving the sales of DC switchgear.

By Geography
Asia Pacific Region is Leading in the Global Market Place
Asia Pacific region is likely to have a huge demand in the forecast period owing to the growing investments in the railways sector and integration of renewable energy sources, especially in countries such as China, India, Japan and Australia. The presence of a large potential for large industrial plant construction, combined with rapidly developing residential and commercial sectors, is also expected to increase the demand for DC switchgears and contribute to regional growth.

List of the Key Players Profiled in the Market Include:
• ABB
• Brush Group
• Chint Electric Co., Ltd
• Eaton
• General Electric
• Hitachi Energy Ltd
• Hubbell Incorporated
• L & T
• Lucy Electric
• Myers Power Products, Inc
• Powell Industries
• Schaltbau GmbH
• Sécheron
• Siemens
• Toshiba Infrastructure Systems & Solutions Corporation

List of the Regions/Countries Profiled in the Market Include:
North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others