Global Switchgear Market Research Report: Forecast (2024-2030)

Rozy20 Jun, 2025Business

The Global Switchgear Market size was valued at USD 88.44 billion in 2023 and is estimated to grow at a CAGR of around 6.3% during the forecast period, i.e., 2024-30. The market is anticipated to witness a growing trend in the upcoming years on account of several favorable factors such as surging construction activities in emerging economies, rising demand for efficient & cost-effective power distribution systems, and modernization of power grids, thus increasing investments in the renewable sectors in both developed & the developing economies and other.