Global Medium Voltage Switchgear Market Overview: Trends Shaping Growth to 2029

November 14, 2025 by The Business Research Company

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What Is The Global Market Value Of The Medium Voltage Switchgear Industry In 2025?

The market for medium voltage switchgear has demonstrated robust expansion lately, with its valuation projected to advance from $44.02 billion in 2024 to $46.46 billion in the subsequent year, marking a compound annual growth rate of 5.5%. This upward trajectory observed during the past period stems from numerous factors, including burgeoning infrastructure development initiatives, intensified urbanization and industrial activities, the incorporation of renewable power sources, stricter enforcement of electrical safety regulations, and a general rise in the demand for electrical power.

Anticipating robust expansion, the medium voltage switchgear market’s valuation is projected to reach $57.62 billion by 2029, reflecting a consistent compound annual growth rate (CAGR) of 5.5% over the coming years, a surge primarily driven by heightened emphasis on energy conservation, concerted efforts toward upgrading electrical grids, the scaling up of renewable power generation infrastructure, increased industrial automation levels, and escalating needs within developing economies; concurrently, dominant market movements are centered around implementing remote surveillance and diagnostic tools, bolstering cybersecurity defenses, adopting sophisticated communication standards, shifting towards gas-insulated switchgear (GIS) technology, and the worldwide push for greater electrification.

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Which Major Market Drivers Are Shaping The Future Of The Medium Voltage Switchgear Market?

Anticipated surges in electricity requirements are slated to be the primary catalyst propelling expansion within the market for medium voltage switchgear. As both industrial expansion and the growth of urban centers necessitate an uninterrupted flow of power, the dependability of the entire electrical infrastructure hinges significantly upon the efficacy of the switchgear apparatus. Furthermore, sustained expansion in energy production, fueled by needs across both metropolitan and remote localities alongside continuing enhancements in safeguarding supply mechanisms, is set to stimulate further industry advancement. To illustrate this trend, data from the International Energy Agency (IEA)—an autonomous intergovernmental entity headquartered in France—indicated in January 2024 that worldwide electricity output saw a 2.6% climb during 2023, reattaining the expansion speeds observed before the pandemic interrupted previous lower rates of increase. Consequently, the escalating requirement for electrical power creation is directly fueling the upward trajectory of the medium voltage switchgear sector.

What Are The Major Segment Types Covered In The Medium Voltage Switchgear Market?

The medium voltage switchgear market covered in this report is segmented –

1) By Insulation: Air, Gas, Oil, Vacuum

2) By Installation: Outdoor, Indoor

3) By Application: Residential, Commercial, Industrial, Utility

Subsegments:

1) By Air: Air-Insulated Switchgear (AIS), Outdoor Air-Insulated Switchgear

2) By Gas: Gas-Insulated Switchgear (GIS), Hybrid Gas-Insulated Switchgear

3) By Oil: Oil-Insulated Switchgear, Liquid-Filled Switchgear

4) By Vacuum: Vacuum Circuit Breakers, Vacuum Interrupters

What Trends Are Redefining The Medium Voltage Switchgear Market Dynamics?

A noticeable shift toward developing switchgear with enhanced ecological efficiency is currently shaping the landscape of the medium-voltage switchgear sector. This environmentally conscious switchgear configuration serves as a substitute for sulfur hexafluoride (SF6), a potent greenhouse gas, thereby fostering superior eco-efficiency and minimizing detrimental effects on the environment. The traditional SF6 gas, traditionally employed within switchgear for both electrical insulation and the interruption of electrical currents, currently faces considerable limitations due to its status as a significant greenhouse contributor. Just as an illustration of this evolution, in November of 2022, Hitachi Energy, a firm headquartered in Switzerland specializing in energy solutions, unveiled its groundbreaking 420-kilovolt (kV) gas-insulated switchgear (GIS) technology entirely devoid of SF6, specifically designed to facilitate carbon neutrality within power networks, consequently leading to an increasing adoption and growing momentum for eco-efficient switchgear options within the market for medium-voltage switchgear.

Which Key Players Are Driving Competition In The Medium Voltage Switchgear Market?

Major companies operating in the medium voltage switchgear market include Hitachi Ltd., Siemens AG, Fuji Electric Co. Ltd., Schneider Electric SE, Bharat Heavy Electricals Limited, HD Hyundai Heavy Industries Co. Ltd., ABB Ltd., Larsen & Toubro Saudi Arabia LLC, Eaton Corporation Plc, Toshiba Corporation, General Electric Company, Chint Group, NARI Group Corporation, Hyosung Heavy Industries, Rittal GmbH & Co. KG, Ormazabal, Crompton Greaves Consumer Electricals Limited, E+I Engineering, S&C Electric Company, Lucy Electric UK Ltd., Powell Electronics Inc., EFACEC Power Solutions SGPS S.A., Jyoti Ltd., Kirloskar Electric Company Limited, Skema SpA, Elatec Power Distribution GmbH, Hawker Siddeley Switchgear Ltd., START Electrical Switchgear Assembly LLC, SENTEG Schaltanlagen für Energietechnik GmbH, Xiamen Huadian Switchgear Co. Ltd.

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What Regional Growth Trends Are Shaping The Medium Voltage Switchgear Market Outlook?

Asia-Pacific was the largest region in the medium voltage switchgear market in 2024. Western Europe is the second-largest region in the global medium power transformers market share. The regions covered in the medium voltage switchgear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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