DC switchgear market is anticipated to grow at a CAGR of 6.2% during the forecast period. The rising demand for DC switchgear in power distribution in the electric utility transmission and distribution systems is the major factor accelerating the growth of the market. Switchgear is commonly found throughout electric utility transmission and distribution systems as well as in medium to large-sized commercial or industrial facilities. Across the globe, the government in major economies taking initiatives under which they are offering a package of support for innovative energy technologies that will power homes and businesses. For instance, in April 2022, the UK government launched a wide-ranging $434 million package of support for innovative energy technologies that will power British homes and businesses for decades to come and further strengthen the nation’s energy security. This includes £240 million to support the production of hydrogen as clean, low-cost energy technology, $2.9 million of funding to develop next-generation nuclear technology and a further $5.8 million towards research into carbon capture. This will increase the demand for DC switchgear in electric power plants across the country. Moreover, rising consumer inclination toward electric vehicles (EV) is anticipated to drive its demand, thereby fueling the need for EV charging infrastructure demand along with DC switchgear. The high cost of this switchgear poses a serious challenge to the growth of the market.
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Geographically, the global market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Among these, the North American region is expected to gain significant market share in the DC switchgear market during the forecast period. With increasing electricity demand, the government in the region is taking initiatives toward the replacement and up-gradation of existing distribution networks which is one of the major factors that has surged the demand for DC switchgear. Apart from these, the integration of smart low voltage control units in the residential sector has also boosted the market growth.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global DC Switchgear Market Report by Segment
- By Voltage
o Up to 750 V
o 1,800 V to 3,000 V
o 3,000 V to 10 kV
o Above 10 kV
- By Deployment Type
o Fixed Mounting
o Plug-In
o Withdrawable Units
- By Application
o Railways
o Power Generation
o EV Charging Infrastructure
o Marine
o Others
Global DC Switchgear Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global DC switchgear market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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