Low Voltage Switchgear Market Report 2025

The low voltage switchgear market size has grown strongly in recent years. It will grow from $31.76 billion in 2024 to $34.26 billion in 2025 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to rise in power consumption, a rise in government initiatives, a rise in technological advancements, economic growth in emerging markets and an increase in investments.

The low voltage switchgear market size is expected to see strong growth in the next few years. It will grow to $44.54 billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to growing demand for electricity, growing use of electricity in transportation, rising investments in renewable energy and a rise in demand for electricity from manufacturing sectors. Major trends in the forecast period include focus on offering premium low voltage switchgear, focus on deploying new technologies, focus on producing energy-efficient products and focus on strategic partnerships and collaborations.

The demand for electricity generation is anticipated to drive the growth of the low voltage switchgear market. The ongoing development of industrialization and urbanization necessitates a continuous supply of electricity, and the reliability of this supply largely depends on the performance of switchgear. As energy production shifts toward sustainable growth in both rural and urban areas, the integration of supply protection will further fuel industry expansion. For example, in March 2022, the U.S. Energy Information Administration, a government agency in the US, reported that the contribution of renewable energy to power generation is expected to nearly triple, rising from 21% in 2021 to 44% by 2050, largely driven by advancements in wind and solar power. Consequently, the demand for electricity generation is projected to significantly boost the low voltage switchgear market.

The growing demand for data centers is expected to further propel the low-voltage switchgear market. Data centers are specialized facilities designed to accommodate computer systems and related components, including telecommunications and storage systems. These centers are crucial for storing, processing, and managing large volumes of data for various applications, such as cloud computing, e-commerce, and social media. Low-voltage switchgear is essential for distributing power to different components and systems within a data center, including servers, storage systems, and networking equipment. It also protects electrical systems from power surges, overloads, and other electrical disturbances. For instance, in September 2024, the National Telecommunications and Information Administration, a US-based government agency, reported that there are approximately 5,000 data centers in the United States, with demand for these facilities expected to increase by around 9% annually until 2030. Thus, the rising demand for data centers is driving the growth of the low-voltage switchgear market.

Major companies in the low-voltage switchgear market are introducing IoT-enabled solutions. These innovations, equipped with Internet of Things (IoT) technology, enable remote monitoring and control of electrical systems within buildings. For instance, Elmeasure, an India-based energy management company, launched a range of IoT-enabled low-voltage switchgear, including automatic transfer switches (ATeS), to enhance energy efficiency and operational effectiveness. ATeS serves as an advanced power reliability protection solution, safeguarding mission-critical facilities from power uncertainties.

Major players in the Low Voltage Switchgear Market are concentrating on innovative products like the SEN Plus Switchgear to improve operational efficiency, safety, and sustainability in power distribution and motor control applications. The SEN Plus Switchgear is a low-voltage solution specifically designed for power distribution and motor control, featuring modularity and strong protection for various industrial applications. For example, in December 2023, ABB Ltd., a Switzerland-based automation firm, launched the SEN Plus switchgear. This switchgear is engineered to be flexible and modular, allowing it to adapt to different project requirements while ensuring operator safety. The SEN Plus is gaining traction due to the increasing complexities in grid infrastructure and the need for reliable power distribution systems. This development aligns with broader trends in smart manufacturing and Industry 4.0, where efficient power distribution is essential for advanced automation and data-driven decision-making.

In May 2024, Eaton Corporation, an Ireland-based manufacturing firm, acquired Exertherm for an undisclosed amount. Through this acquisition, Eaton typically aims to enhance its product offerings, expand its market reach, and boost its technological capabilities. Exertherm Limited is a UK-based company that specializes in providing temperature and humidity control solutions.

Major companies operating in the low voltage switchgear market include ABB, Siemens, Hitachi, Mitsubishi Electric, Schneider Electric SE, Eaton, Fuji Electric Co Ltd, Hyundai Electric, Chint Group, Hyosung, Ls Electric Co. Ltd, Noja Power, Meidensha, Toshiba, Nissin Electric, Shihlin Electric, Chem, Fortune Electric, Anchor Electricals Pvt Ltd, Havells India Ltd, Cg Power And Industrial Solutions Limited (Crompton Greaves), Orecco Electric, Tamco, Lan Electrical Limited, Tenaga Switchgear, Lucy Electric, Bmc Manufacturing, Twyver Switchgear, Alstom, Switchgear Company Nv (Sgc), Electroshield Samara, S&C Electric Company, Powell Industries, G&W Electric, Abunayyan Holding Company, Tiepco, Wahah Electric Supply Company Of Saudi Arabia Ltd, Kfb Holding Group, Afcon, Actom, Matelec Group, Egyptian German Electrical Manufacturing Co.

Asia-Pacific was the largest region in the low voltage switchgear market in 2024. Western Europe was the second-largest region in the low voltage switchgear market share. The regions covered in the low voltage switchgear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the low voltage switchgear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

Low voltage switchgear refers to electrical switchgear with a rating of up to 1KV, commonly used in low voltage distribution boards to safeguard the low voltage system.

The main product categories of low voltage switchgear include fixed mounting units, plug-in units, and withdrawable units. Withdrawable switchgear is a type of electrical switchgear that can be withdrawn and reinserted into the switchgear for maintenance or replacement purposes. The products come with voltage ratings, such as less than 250V, 250-750V, and 751-1000V. Low voltage switchgear finds applications among residential, commercial, and industrial end-users.

The low voltage switchgear market research report is one of a series of new reports that provides low voltage switchgear market statistics, including low voltage switchgear industry global market size, regional shares, competitors with a low voltage switchgear market share, detailed low voltage switchgear market segments, market trends and opportunities, and any further data you may need to thrive in the low voltage switchgear industry. This low voltage switchgear 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.

The low voltage switchgear market consists of sales of low voltage circuit breakers, switches, off load electrical isolators, earth leakage circuit breakers, and other low voltage switchgear. They are used to protect the low voltage system. 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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