Industry news of high and low voltage switchgear

 According to the latest industry trends, the high and Low Voltage Switchgear industry is expected to exhibit three major trends in 2026: intelligence, accelerated new energy support, and concentration among leading players. The market size has already surpassed RMB 312 billion.

Industry data and market status

• Market Size: In 2026, the overall market size of domestic high and low voltage distribution cabinets exceeded RMB 312 billion, representing a year-on-year increase of 7.6%. Specifically, the market size of High Voltage Switchgear was RMB 172.5 billion, while that of low voltage distribution cabinets was RMB 139.5 billion.
• Growth engine: New energy supporting products (such as photovoltaic grid-connected cabinets, integrated energy storage box-type transformers, etc.) have become core growth sectors, with a market size exceeding RMB 42.6 billion and an average annual growth rate of over 18% in the past three years.
• Intelligentization trend: The output value of intelligentized complete Power Distribution Equipment has risen to 43.2% of the total industry, an increase of 5.7 percentage points compared to 2025.
• Localization rate: The overall market share of domestically produced equipment has exceeded 72%, and the trend of domestic substitution continues to deepen.