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.