The switchgear and switchboard apparatus market consist of sales of switchgear and switchboard apparatus and related services that are used in various applications such as transmission and distribution utility, residential, commercial and industrial. A switchgear refers to collection of the switching devices that are used for controlling, protecting, and switching the electrical circuits and equipment. Switchboards refers to the power distribution process system which consists of panels with different switches and indicators to direct and control electricity for functioning in circuits.
The global switchgear and switchboard apparatus market was worth $129.72 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 9.62% and reach $187.32 billion by 2023.