Low Voltage Industrial Switchgears

Global Low Voltage Industrial Switchgears Market to Reach US$4.8 Billion by 2030

The global market for Low Voltage Industrial Switchgears estimated at US$3.8 Billion in the year 2024, is expected to reach US$4.8 Billion by 2030, growing at a CAGR of 4.0% over the analysis period 2024-2030. AC, one of the segments analyzed in the report, is expected to record a 4.8% CAGR and reach US$3.2 Billion by the end of the analysis period. Growth in the DC segment is estimated at 2.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.0 Billion While China is Forecast to Grow at 7.5% CAGR

The Low Voltage Industrial Switchgears market in the U.S. is estimated at US$1.0 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$978.9 Million by the year 2030 trailing a CAGR of 7.5% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.6% and 3.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR.

Global Low Voltage Industrial Switchgear Market – Key Trends & Drivers Summarized

What’s Powering the Surge in Low Voltage Industrial Switchgear Demand Worldwide?

As industries transition toward smarter and more energy-efficient operations, the global low voltage industrial switchgear market is undergoing rapid transformation. These systems, essential for power distribution and circuit protection at voltages below 1kV, are seeing robust demand across various sectors. Their pivotal role in ensuring operational safety, minimizing downtime, and supporting automated industrial systems makes them integral to modern infrastructure. Key users span industries such as manufacturing, oil & gas, mining, utilities, transportation, and commercial real estate. Additionally, the proliferation of microgrids, especially in remote areas and developing economies, is amplifying the need for reliable and modular low voltage solutions that integrate seamlessly with renewable energy sources and energy storage systems.

Is Electrification of Infrastructure Shaping the Future of the Market?

A major trend driving this market is the global movement toward electrification and decarbonization of infrastructure. Governments are investing heavily in revamping power distribution networks and deploying smart grids, especially in fast-growing urban centers. This modernization push is accompanied by stringent energy efficiency regulations and a global tilt toward green building practices, further amplifying demand for advanced switchgear systems. Notably, the integration of IoT and digital monitoring systems within low voltage switchgear has become a standard feature in industrial applications, providing real-time diagnostics, predictive maintenance, and remote operability. Smart switchgear with built-in sensors and communication protocols is thus becoming a cornerstone in the broader industrial automation and Industry 4.0 revolution.

Why Are Emerging Economies Becoming the Hotbeds of Switchgear Installations?

Rapid industrialization and urban expansion in emerging economies, particularly across Asia-Pacific, Latin America, and parts of Africa, are significantly propelling the market forward. With increasing electrification rates and government-led initiatives to boost manufacturing under programs like China’s “Made in China 2025” and India’s “Make in India,” the need for reliable, efficient, and compact switchgear is escalating. Additionally, the construction boom, including the development of data centers, commercial buildings, and transportation hubs, has fueled the demand for flexible low voltage distribution systems. These markets are characterized by the replacement of aging infrastructure and the rapid adoption of modular, plug-and-play systems that minimize installation time and operational risk.

What’s Fueling the Acceleration of Growth in the Global Market?

The growth in the low voltage industrial switchgear market is driven by several factors tied to evolving technological requirements, end-user expectations, and industry-specific dynamics. First, the rising adoption of renewable energy installations such as solar and wind farms has led to increased deployment of switchgear systems that can efficiently manage fluctuating energy loads and enable seamless grid integration. Second, digital transformation across industries is pushing demand for smart, sensor-equipped switchgear that supports remote control and real-time analytics. Third, the expansion of industries such as electric vehicle manufacturing, robotics, and semiconductor fabrication is increasing the need for high-performance, precision-oriented electrical distribution systems. Furthermore, rising concerns over grid reliability and the growing threat of cyber-physical attacks are prompting investments in advanced switchgear with enhanced safety, fault tolerance, and cybersecurity features. Finally, changing consumer behavior favoring eco-efficient and space-saving equipment is influencing product development strategies among key manufacturers, driving innovation and market competitiveness.

SCOPE OF STUDY:

The report analyzes the Low Voltage Industrial Switchgears market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Current (AC, DC); Insulation (Air, Gas, Oil, Vacuum, Others)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 34 Featured) -

• ABB Ltd.
• Anchor Electricals Pvt. Ltd.
• Eaton Corporation
• Fuji Electric Co., Ltd.
• Havells India Ltd.
• Hitachi Ltd.
• Hyundai Electric & Energy Systems
• Kraus & Naimer
• Lucy Electric
• Mitsubishi Electric Corporation
• North American Switchgear
• Panasonic Life Solutions India Pvt. Ltd.
• Powell Industries Inc.
• Rockwell Automation
• Schneider Electric
• Siemens AG
• Switchgear Power Systems
• Toshiba Corporation
• Vertiv
• WEG Industries

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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