Top 14 Switchgear Companies in the World

The global switchgear market size reached US$ 111.8 Billion in 2023. As per the analysis by IMARC Group, the top companies in the switchgear industry are focusing on developing advanced products, such as digital and smart switchgears, which are equipped with sensors, communication systems, and data analytics to optimize performance, ensure reliable operation, reduce downtime, and enhance safety. Furthermore, the introduction of solid-insulated switchgears that are eco-friendly, non-toxic, fire-resistant, and manufactured using silicon rubber and epoxy resins is positively influencing the market growth. Apart from this, the growing product demand to ensure a stable power supply and protect electrical equipment due to the rapid expansion of the electricity network is propelling the market growth. Moreover, the widespread product application in renewable energy generation to facilitate the integration of solar and wind power plants with the existing grid system and enable safe operations is providing an impetus to the market growth. Besides this, the utilization of three-dimensional (3D) printing to produce switchgear components with high precision, accuracy, and efficiency is acting as another growth-inducing factor. In addition to this, the implementation of strict government regulations to mandate the installation of switchgears to promote workplace safety and ensure the reliability of electrical systems is providing a thrust to the market growth. Other factors, including the increasing infrastructural development activities, the rising investments in the development of advanced products, the rapid modernization of aging grid infrastructure, and the growing demand for automation across industries, are anticipated to drive the market growth. Looking forward, IMARC Group expects the market to reach US$ 168.8 Billion by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2024-2032.

Learn about opportunities, challenges, and trends in the global Switchgear market with IMARC’s market research report. Try a free sample today!

List of Top Companies Operating in the Switchgear  Industry:

The global switchgear market has several major players including ABB Ltd., CG Power and Industrial Solutions Limited, Eaton Corporation PLC, Fuji Electric Co. Ltd., General Electric Company, Havells India Limited, Hitachi Ltd., Larsen & Toubro Limited, Meidensha Corporation, Mitsubishi Electric Corporation, Powell Industries Inc., Schneider Electric SE, Siemens AG and Toshiba Corporation. More information about these companies has been provided below. 

1. ABB Ltd.

ABB Ltd. is a multinational technology company that deals in smart electrification and process automation solutions. Its products include electric vehicle (EV) systems, solar inverters, modular substations, robotics, wiring accessories, switchgear, enclosures, cabling, and sensing and control equipment. The company is actively developing advanced systems and incorporating new technologies to improve the efficiency of its products, digitalize manufacturing processes, and increase energy efficiency. In addition to this, ABB Ltd.  is also collaborating with various industry partners to expand its product portfolio and expand its market reach.

2. CG Power and Industrial Solutions Limited

CG Power and Industrial Solutions Limited is an engineering conglomerate that offers an impressive and diverse range of products, solutions, and services for power, railways, and other industries. Its portfolio is comprised of transformers, circuit breakers, switchgear, project engineering, motors, drives, network protection and control gear, power automation products, and turnkey solutions. The company is also engaged in partnerships with several international enterprises to expand its global network, diversify its supply chain, and increase product offerings.

3. Eaton Corporation PLC

Eaton Corporation PLC is a multinational corporation that manufactures equipment and systems for the electrical, aerospace, and automotive industries. Some of its major products include electrical power distribution and control equipment, uninterruptible power supply (UPS) systems, industrial and hydraulic hoses, fittings, aerospace fuel, and pneumatic systems. The company is also investing heavily in developing energy-efficient and sustainable solutions and technologies to expand its product portfolio, and reduce environmental pollution.

4. Fuji Electric Co. Ltd.

Fuji Electric Co. Ltd. is a global manufacturer of electrical products, such as drives, power supplies, sensors, semiconductors, motors, and servo systems. It is known for its expertise in power electronics, energy management, automation, and social infrastructure systems. It also offers customized equipment and solutions to data centers, healthcare facilities, food and beverage (F&B) companies, water treatment plants, railway systems, and the renewable energy industry. Furthermore, the company is expanding its global footprint by investing in new production facilities and distribution channels to improve its reach and better serve its customers.

5. General Electric Company

General Electric Company is a multinational technology and financial services company. It operates in multiple segments, including aviation, healthcare, power, renewable energy, and capital. Furthermore, the company produces a wide range of products, such as gas and steam turbine engines, diagnostic equipment, medical imaging systems, locomotives, generators, transformers, and marine propulsion systems. Moreover, it is investing in emerging technologies, such as data analytics and artificial (AI), to improve the efficiency of its products, enhance performance, and reduce downtime.

6. Havells India Limited

Havells India Limited is a fast-moving electrical goods (FMEG) company that designs and manufactures cables, switchgears, motors, home appliances, air conditioners, water heaters, power capacitors, and luminaires. It also produces a wide range of products under its various brand names, such as Lloyd, Crabtree, and Standard. Furthermore, the company has also created an online retail store, which allows users to browse its product offerings, place purchase orders, and track shipments conveniently from the comfort of their homes and offices.

7. Hitachi Ltd.

Hitachi Ltd. is a multinational conglomerate that deals in power equipment, energy storage, smart grids, cloud services, cybersecurity, and automation systems. It has clients across the automotive, healthcare, manufacturing, nuclear, telecommunication, finance, aerospace, construction, and transportation industries. Furthermore, Hitachi Ltd. is engaged in multiple partnerships and collaborations with leading market players to develop advanced systems, strengthen its market presence, and expand its product offerings.

8. Larsen & Toubro Limited

Larsen & Toubro Limited (L&T) is an India-based multinational company (MNC) engaged in engineering, procurement, and construction (EPC) projects and high-tech manufacturing. The company is focused on expanding its footprints across core and high-impact sectors, such as defense, infrastructure, nuclear power, renewable energy, aerospace, and information technology (IT). Apart from this, it is developing advanced technologies and solutions in collaboration with multiple global partners to attract new customers and improve its market presence.

9. Meidensha Corporation

Meidensha Corporation is an electrical engineering company specializing in designing, developing, and manufacturing generators, switching devices, transformers, power conversion equipment, surge arresters, and water treatment systems. The company is known for its technical expertise, innovative solutions, and commitment to sustainability and social responsibility. As a result, it is significantly investing in developing energy-efficient products and clean energy solutions to attract new customers and expand its product portfolio.

10. Mitsubishi Electric Corporation

Mitsubishi Electric Corporation is a multinational manufacturer, distributor, and seller of electrical and electronic equipment. It offers a wide range of products, such as turbines, generators, switchgears, home applications, refrigeration systems, programmable logic controllers, and automation systems. Mitsubishi Electric Corporation also works with multiple industrial partners to develop custom solutions for automotive, communication, defense, and aerospace applications. Furthermore, it is extensively investing in research and development (R&D) activities to meet growing consumer demands and gain advantages over its competitors.

11. Powell Industries Inc.

Powell Industries Inc. is an American company that manufactures electrical equipment to distribute, control, and monitor electrical energy in various industrial and commercial settings. It also provides custom-engineered solutions to its clients based on their specific requirements. The company is known for delivering safe, reliable, and highly efficient products that offer consistent performance and long service life. Furthermore, Powell Industries Inc. is engaged in several innovative projects to develop advanced technologies for emerging markets and expand its product portfolio.

12. Schneider Electric SE

Schneider Electric SE is a multinational corporation specializing in energy management and automation solutions for homes, buildings, data centers, infrastructures, and industries. Its product lineup includes switchgears, drives, circuit breakers, motor starters, lighting, and substation equipment. Furthermore, Schneider Electric SE is leveraging advanced technologies, such as cloud computing, data analytics, and the Internet of Things (IoT), to deliver customer-centric centric services and improve brand reputation.

13. Siemens AG

Siemens AG is a global engineering company that develops electrification, automation, and digitalization solutions. It operates in various industries, including automotive, healthcare, power generation, transportation, and manufacturing. In addition to this, the company produces a wide range of products, such as security systems, fire safety equipment, industrial software, and medical imaging devices. It has partnered with several organizations and institutions to improve the efficiency of its products, develop innovative solutions, and expand its business into emerging markets.

14. Toshiba Corporation

Toshiba Corporation is a Japanese manufacturer of computers and electronic devices for consumers and industries. It also produces home appliances, storage devices, motors, and energy systems. The company is also engaged in various research and development (R&D) activities to create cost-effective, reliable, and highly efficient systems to meet consumer demand and increase sales. Furthermore, Toshiba Corporation has formed several partnerships over the year to stay competitive in the market and expand its product portfolio.

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