Switchgear Market to Hit $152.98B by 2031 as AI Data Centers Drive Demand
Delray Beach, Fla. – – September 08, 2026 -- The global switchgear market is projected to expand from $110.17 billion in 2026 to $152.98 billion by 2031, a compound annual growth rate of 6.8%, according to a new report from MarketsandMarkets. The market was valued at $104.45 billion in 2025, with growth spanning 2023 through 2031.
Data center buildout and grid modernization anchor demand growth
Utilities worldwide are upgrading transmission and distribution networks in parallel with accelerating renewable energy capacity additions that require robust grid-interconnection equipment. The rapid expansion of global data center capacity, driven by cloud computing and AI workloads, is amplifying demand for high-reliability power distribution infrastructure, alongside transportation electrification and industrial capacity expansion.