Austin, June 25, 2025 (GLOBE NEWSWIRE) -- Paralleling Switchgear Market Size & Growth Insights:
According to the SNS Insider,“The Paralleling Switchgear Market Size was valued at USD 1.78 Billion in 2023 and is expected to reach USD 3.14 Billion by 2032 and grow at a CAGR of 7.36% over the forecast period 2024-2032.”
Empowering Critical Infrastructure: Technological Advancements Driving Growth in the Paralleling Switchgear Market
The Paralleling Switchgear Market is witnessing strong growth driven by the rising demand for continuous and reliable power supply across critical sectors such as utilities, healthcare, data centers, and manufacturing. As operational dependence on uninterrupted electricity grows, businesses are adopting advanced power management solutions to ensure system stability and efficiency. Technological advancements such as smart controllers, remote monitoring, and integration with renewable energy sources are enhancing performance through improved load balancing, fault tolerance, and optimized power distribution. Additionally, the push towards modular and scalable infrastructure is simplifying deployment across commercial and industrial facilities. Enhanced design, stronger circuit protection, and modern diagnostics are further boosting system reliability and performance. These collective innovations and infrastructure developments are propelling market adoption across industries.
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Regional Outlook: North America Leads, Asia Pacific Emerges as Fastest-Growing Market
In 2023, North America led the paralleling switchgear market with a 28.6% share, owing to established industrial base in this region, increasing need for continuous and reliable power supply, and high adoption of backup power equipment. Important industries, such as data centers, healthcare providers and manufacturers all increasingly require advanced power management; particularly in the U.S., where tech heavyweights such as AWS, Microsoft and Google use paralleling switchgear to keep everything charged and running. Moreover, the aging nature of grid systems is also driving the upgradation of its switchgear counterparts with new-age technologies.
Asia Pacific is projected to register the fastest CAGR of over 10% from 2024 to 2032, on account of swift urbanization, infrastructure spending, and energy requirements in countries such as China, India, and Japan. The adoption is further being fueled by smart grid projects and ever-growing industrialization.
Paralleling Switchgear Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 1.66 Billion |
| Market Size by 2032 | USD 3.13 Billion |
| CAGR | CAGR of 7.36% From 2024 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segmentation | • By Application (Prime Power, Standby Power, Peak Shaving) • By Type (Open Transition System, Closed Transition System) • By Voltage (Low Voltage, Medium Voltage) • By End Use (Commercial & Industrial, Utilities & Power Generator, Others) |
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Key Industry Segmentation
By Application
In 2023, the standby power segment dominated the Paralleling Switchgear Market, accounting for 43.2% of the total share, driven by rising demand for backup power in critical sectors like healthcare, data centers, and commercial infrastructure. These industries rely heavily on standby systems to maintain operations during grid outages.
The peak shaving segment is projected to witness the fastest CAGR from 2024 to 2032, as a result of increasing concern towards the energy cost and adoption of load management techniques. Peak shaving can be used to save utility bills or to improve power system security, and industrial users tend to use peak shaving to a large extent.
By Type
In 2023, the open transition system segment held the largest market share as a result of increasing concern towards the energy cost and adoption of load management techniques. Peak shaving can be used to save utility bills or to improve power system security, and industrial users tend to use peak shaving to a large extent.
From 2024 to 2032, the closed transition system segment is expected to register the highest CAGR, owing to the increasing need for continuous power supply in the critical applications, such as hospitals and data centers, where continuous and pure power and enhanced system reliability are required.
By Voltage
In 2023, the low voltage segment dominated the paralleling switchgear market, as it is extensively used in commercial, data centers, and industrial facilities that have low-power requirements. Affordable and simple to install systems for under 1,000 volts such as these are widely used in private and residential applications such as healthcare, retail and manufacturing.
The medium voltage segment is projected to record the highest CAGR from 2024 to 2032, owing to increased demand for efficient power distribution within utilities and large industrial application that require better safety and performance.
By End Use
In 2023, the commercial and industrial segment led the paralleling switchgear market, on account of growing demand for uninterrupted power supply in industries such as manufacturing, healthcare, and data centers. These are the systems that provide the backup power, optimised load handling and uninterupted continuity of service required in mission-critical applications where industrial expansion and commercial infrastructure has grown and developed at an astonishing rate.
From 2024 to 2032, the utilities and power generator segment is expected to grow at the fastest CAGR, on the back of growing investment in power infrastructure, renewable integrations, as well as grid stability and efficient energy distribution requirements.
Leading Market Players with their Product Listed in this Report are:
- Schneider Electric
- Cummins Inc.
- Caterpillar
- General Electric Company
- Regal Rexnord Corporation
- Siemens
- Mitsubishi Electric
- ABB
- Eaton
- Pioneer Power Solutions
- INDUSTRIAL ELECTRIC MFG
- EMI
- Kohler Co.
- Nixon Power Services
- ASCO Power Technologies
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Recent Developments:
- In April 2024, Schneider Electric introduced the EasySet MV, the company’s new air-insulated, compact medium voltage switchgear end of April 2024 – that offers power distribution that is reliable, efficient, safe and digitized. Based on IEC standards, it incorporates sustainability, innovation and simple-use to promote reliable electrical performance.
- In Oct 2024, Mitsubishi Electric Power Products is investing USD 86 million in a state-of-the-art switchgear manufacturing facility in Pennsylvania to help U.S. grid modernization and decarbonization efforts when the plant opens in Oct 2024. The plant will manufacture vacuum and gas circuit breakers and will have more than 200 workers.
Table of Contents - Major Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Paralleling Switchgear Market Segmentation, by Application
8. Paralleling Switchgear Market Segmentation, by Type
8. Paralleling Switchgear Market Segmentation, by Voltage
8. Paralleling Switchgear Market Segmentation, by End Use
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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