Low Voltage Oil Insulated Switchgears

Global Low Voltage Oil Insulated Switchgears Market to Reach US$6.7 Billion by 2030

The global market for Low Voltage Oil Insulated Switchgears estimated at US$5.0 Billion in the year 2024, is expected to reach US$6.7 Billion by 2030, growing at a CAGR of 4.8% over the analysis period 2024-2030. AC, one of the segments analyzed in the report, is expected to record a 4.0% CAGR and reach US$4.0 Billion by the end of the analysis period. Growth in the DC segment is estimated at 6.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.4 Billion While China is Forecast to Grow at 7.5% CAGR

The Low Voltage Oil Insulated Switchgears market in the U.S. is estimated at US$1.4 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion 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 2.4% and 4.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.

Global Low Voltage Oil Insulated Switchgear Market – Key Trends & Drivers Summarized

Why Is There Renewed Interest in Low Voltage Oil Insulated Switchgear?

In recent years, the global market for low voltage oil insulated switchgear has witnessed a resurgence, fueled by rising demands in legacy infrastructure modernization and enhanced safety standards. Traditionally deployed across industrial, utility, and commercial power distribution systems, these switchgears are gaining favor due to their robust arc-quenching capabilities and proven long-term reliability. This type of switchgear is particularly well-suited to extreme environments where other insulation mediums may degrade faster. With increased urbanization in emerging economies and rapid industrial growth in regions such as Southeast Asia, the need for stable and fail-safe power control systems is more pressing than ever, driving new installations and refurbishments of older systems with oil insulated variants. Furthermore, evolving grid complexity and the integration of distributed energy resources require switchgear solutions that can handle fluctuating load conditions reliably—something oil insulation facilitates through its superior dielectric strength.

How Are Regulations and Retrofits Shaping Market Movements?

Stricter energy and safety regulations are playing a pivotal role in the market dynamics of low voltage oil insulated switchgear. Many nations are now enforcing safety upgrades in aging grid systems, particularly in critical sectors such as transport infrastructure, mining, and heavy industry. This regulatory push has led to retrofitting opportunities, where oil insulated switchgears are preferred due to their compact footprint and the ease with which they can be integrated into existing frameworks. Additionally, environmental policies targeting SF6-free alternatives have indirectly encouraged some utilities to revert to oil-insulated options, which, despite handling challenges, offer a relatively inert impact on greenhouse emissions compared to synthetic gases. In historic installations where replacement is either cost-prohibitive or structurally infeasible, upgrades with modern oil insulated components provide a viable path forward. Consequently, vendors are innovating around compactness, maintainability, and modularization to meet evolving compliance and performance expectations.

What Role Does Industrial Electrification and Digitalization Play?

The expanding scope of industrial electrification and process automation is further propelling the demand for resilient and intelligent low voltage switchgear systems. Oil insulated variants are increasingly being embedded with sensors and digital monitoring tools to align with Industry 4.0 imperatives. These advancements support condition-based maintenance strategies, remote diagnostics, and predictive failure analysis, enhancing operational uptime and reducing lifecycle costs. Heavy manufacturing sectors, chemical plants, and data centers—where reliability is non-negotiable—are gravitating towards hybrid switchgear systems that combine traditional oil insulation with smart monitoring capabilities. Additionally, in rural and semi-urban zones where grid reliability is often questionable, oil insulated switchgear offers a self-contained, maintenance-light solution that is well-suited for decentralized energy systems. The incorporation of IoT-enabled asset tracking and SCADA-compatible interfaces has added a new dimension to what was traditionally viewed as a static hardware component.

What’s Fueling Market Growth Across Geographies and Sectors?

The growth in the low voltage oil insulated switchgear market is driven by several factors directly linked to technology evolution, end-user adoption trends, and shifting market needs. Technologically, the introduction of modular designs with plug-and-play functionality has drastically reduced installation time and simplified upgrades, particularly in constrained urban spaces. From an end-use perspective, sectors like renewable energy, transportation, oil & gas, and manufacturing are showing heightened demand due to their need for high-reliability switchgear that can withstand harsh operating conditions. Moreover, utilities in developing countries are investing heavily in low voltage distribution networks to reduce transmission losses—driving demand for rugged, low-maintenance switchgear options. On the consumer behavior front, there’s a growing preference for systems that offer long-term durability and minimal operational overhead, especially in regions where skilled maintenance personnel are scarce. All these dynamics—combined with increased R&D investments from manufacturers focusing on performance optimization and digital integration—are accelerating the adoption curve and diversifying the use cases of oil insulated low voltage switchgear globally.

SCOPE OF STUDY:

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

Segments:
Current (AC, DC); Application (Residential, Commercial & Industrial, Utilities)

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 44 Featured) -

• ABB Ltd.
• BGR Energy Systems Ltd.
• Bharat Heavy Electricals Limited (BHEL)
• Eaton Corporation
• Fuji Electric Co., Ltd.
• Hawker Siddeley Switchgear
• Hitachi Ltd.
• Hyundai Electric & Energy Systems Co., Ltd.
• Lucy Group Ltd.
• Meidensha Corporation
• Mitsubishi Electric Corporation
• Orecco Electric
• Panasonic Life Solutions India Pvt. Ltd.
• Powell Industries Inc.
• Schneider Electric
• Sensata Technologies Inc.
• Siemens AG
• Skema S.p.A.
• Switchgear Company
• Toshiba Corporation

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.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.