Summary

The global DC switchgear market is projected to reach USD 14.8 billion by 2026 from an estimated market size of USD 11.0 billion in 2021, at a CAGR of 6.1% during the forecast period. The factors driving the growth for DC switchgear are the growing demand for renewable power generation and increasing investment in the upgradation and modernization of the railway sector. “Up to 750 V segment dominates the global market”The DC switchgear market, by voltage, is segmented into up to 750 V, 750 V to 1,800 V, 1,800 V to 3,000 V, 3,000 V to 10 kV and above 10 kV. The up to 750 V segment is expected to be the largest segment in the DC switchgear market, by voltage, during the forecast period. The high-cost efficiency associated with 750 V DC power supply systems is expected to fuel the growth of the up to 750 V segment of the DC switchgear market.“Railways segment to lead the global DC switchgear market “The DC switchgear market, by application, is segmented into railways, solar farms, battery storage, EV charging infrastructure, marine, power generation and others. The railways segment is expected to hold the largest size of the market for DC switchgears. The developments in the suburban railway network, expansion and modernization of heavy rail network, and upgrade of existing metro lines across the world are expected to fuel the growth of the railways segment in the DC switchgear market.“Asia Pacific dominates the global DC switchgear market in terms of annual growth rate” The Asia Pacific region is estimated to be the largest market for the DC switchgear, followed by North America. The Asia Pacific region is also projected to be the fastest growing market during the forecast period. Asia Pacific is expected to dominate the market due to the growing investments in the railways sector and integration of renewable energy sources, especially in countries such as China, India, Japan and Australia.Breakdown of Primaries:In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows: By Company Type: Tier I–65%, Tier II–24%, and Tier III–11%By Designation: C-Level–30%, Director Level–25%, and Others–45%By Region: Middle East & Africa–8%, Asia Pacific–33%, North America–27%, South & Central America–12%, Europe–20% Note: Others includes sales managers, marketing managers, product managers, and product engineers. The tier of the companies is defined on the basis of their total revenue as of 2017; Tier 1: USD 1 billion, Tier 2: from USD 1 billion to USD 500 million, and Tier 3:

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