Market Size of China Switchgear Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 9.64 Billion |
| Market Size (2029) | USD 11.94 Billion |
| CAGR (2024 - 2029) | 4.39 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Switchgear Market Analysis
The China Switchgear Market size is estimated at USD 9.64 billion in 2024, and is expected to reach USD 11.94 billion by 2029, growing at a CAGR of 4.39% during the forecast period (2024-2029).
- Over the medium period, increasing electricity generation and consumption, along with the rising emphasis on renewable energy generation, are expected to drive the switchgear market during the forecast period.
- On the other hand, stringent environmental and safety regulations related to the switchgear market are restraining factors. Also, increasing competition from the unorganized sector of the overall switchgear market is expected to restrain the switchgear market in the coming years.
- Nevertheless, the expansion of power transmission and distribution (T&D) infrastructure to achieve high rates of electricity access in China is expected to create significant opportunities for switchgear market.
