Switchboard Market Report 2026

The switchboard market size has grown steadily in recent years. It will grow from $92.64 billion in 2025 to $94.91 billion in 2026 at a compound annual growth rate (CAGR) of 2.4%. The growth in the historic period can be attributed to growth in industrial power distribution, expansion of commercial infrastructure, early adoption of electrical safety standards, rising residential electrification, increasing utility grid upgrades.

The switchboard market size is expected to see steady growth in the next few years. It will grow to $108.21 billion in 2030 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to demand for smart grid systems, growth in electric vehicle charging infrastructure, expansion of renewable energy projects, rising automation in manufacturing, increasing focus on energy efficient buildings. Major trends in the forecast period include integration of smart monitoring switchboards, adoption of energy efficient power distribution systems, rising demand for modular and compact switchboards, expansion of industrial automation installations, increasing use of remote fault detection technologies.

The growing global demand for electricity is a key factor propelling the switchboard market. Switchboards play a crucial role in electricity distribution and control, ensuring safety, efficiency, and reliability in commercial infrastructure. For example, in February 2023, the International Energy Agency, a France-based autonomous intergovernmental organization, reported that global electricity demand is expected to increase by 3% annually from 2023 to 2025, compared to the growth rate observed in 2022. This surge in electricity demand globally drives the demand for switchboards, thus contributing to market growth.

Major companies in the switchboard market are actively introducing innovative products such as Quadro Evo to cater to the UK market's specific needs and expand their market share. Quadro Evo is a modular switchboard designed for customization to suit various applications, available in different sizes and configurations. Equipped with modules such as circuit breakers, switches, and fuses, it was launched by Hager Group in June 2023, meeting British standards for electrical distribution and control. Quadro Evo ensures a safe, reliable, and flexible solution while being easy to install and maintain, offering a comprehensive solution for diverse applications in the UK market.

In January 2023, Abba Renewables, a renewable energy company based in Singapore, acquired Dara Switchboards for an undisclosed sum. This acquisition aligns with Abba Renewables' strategy to broaden its service offerings and reinforce its presence in the Australian market. The integration of Dara Switchboards is anticipated to create synergies that will benefit both companies, especially in delivering advanced electrical solutions and facilitating the growth of renewable energy projects throughout the region. Dara Switchboards is an Australia-based manufacturer of switchboards.

Major companies operating in the switchboard market are Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Eaton Corporation plc, Emerson Process Management Co., Delta Electronics Inc., Rockwell Automation Inc., Vertiv Holdings Co., Chint Group Co. Ltd., Rittal GmbH & Co. KG, Crompton Greaves Limited, Powell Industries Inc., CandS Electric Ltd., Industrial Electric Mfg, ROMAC Electrical Power Equipment Inc., Nilsen Electric Pty Ltd., Mastervolt B.V., CUBIC Modular Systems A/S, Larson Electronics LLC, Rolla Pty Ltd., Aussie Switchboards Pty Ltd., Powerwell Pty Ltd., Gulf Electrical Distribution Apparatuses Co. Ltd., Kounis Electrical Supply Pty Ltd.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on electrical components, control panels, and conductive materials have increased production costs for switchboards, particularly affecting manufacturers in Asia Pacific and Europe that rely on imported metals and electronic assemblies. These tariffs have caused delays in commercial and industrial installations while raising total project expenses. However, they also stimulate regional sourcing, encourage local manufacturing investments, and support innovation in cost efficient switchboard technologies to reduce dependency on global supply chains.

The switchboard market research report is one of a series of new reports that provides switchboard market statistics, including switchboard industry global market size, regional shares, competitors with a switchboard market share, detailed switchboard market segments, market trends and opportunities, and any further data you may need to thrive in the switchboard industry. This switchboard market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Switchboards are integral to the power distribution process, constituting a system with panels featuring different switches and indicators. These components are designed to direct and control electricity within circuits.

Switchboards are broadly categorized into low-voltage, middle-voltage, and high-voltage types. The low-voltage distribution control panel serves as the primary switchboard, ensuring the reliability of an electrical system. It functions as a pivotal component responsible for distributing electricity across various sections of a facility. Switchboards adhere to various product standards, including the IEC standard and ANSI standard, catering to the needs of industrial, residential, commercial, and other end users.Asia-Pacific was the largest region in the switchboard market in 2025. Western Europe was the second-largest region in the global switchboard market share. The regions covered in the switchboard market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the switchboard market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The switchboard market consists of sales of ducts, fuses, cubicles, panel boards, power switchboards, and other switchboards. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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