The global market for high voltage (HV) switchgear market in 2016 reached $ 11.6 billion, estimated at $ 15.86 billion in 2021 and 6.4% for the compound annual growth rate (CAGR) between 2016 and 2021. In developing economies such as the Asia-Pacific region and the Middle East, the rise in electricity demand has boosted capacity for the development and transmission sector of the high-voltage switchgear market.

China, one of the fastest growing economies with a largest fleet of transmission substations, topped the global HV switchgear market in 2016 with a value of US$2.69 Billion and is expected to reach US$3.3 Billion in 2021. It represented over 23.0% of global HV switchgear market in 2016. China is the world leader in ultra-high voltage (UHV) transmission having made huge investments to develop transmission system of voltage level 765kV and above. The country has higher potential for GIS in the Asia-Pacific region. Both 72-172kV and above 172kV segment have almost equal contribution in the country. By 2021, the share of China is expected to be 21.0% of the global market value.

India is ranked second in the world's high-voltage switchgear market, with market capitalization of $ 976.2 million in 2016, or 8.4% of the global market. India power grid is in the development stage, put the power to strengthen the regional power grid and interoperability of transmission capacity. During the forecast period, the share of GIS is expected to be higher than that of AIS, especially at 400 kV and above. GIS market driven by the needs of utility substation, requiring HV switchgear covers an area of small, to overcome the space constraints. By 2021, India's HV switchgear market is expected to reach $ 1,828 million by 2021, contributing nearly 11.5% of the global market.

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