Switchgear Industry News
In the second quarter of 2026, driven by the intensive delivery of ultra-high voltage projects and the demand for upgrading overseas power grids, the market activity of the switchgear industry has significantly increased, and orders and production capacity of multiple enterprises have shown a growth trend.
Market exports and global market share
There is still significant room for China to increase its global market share in key power and grid equipment fields. As of 2025, the global market share of high-voltage switchgear is about 6.5%, far lower than industries such as photovoltaic modules.At the beginning of 2026, the industry's export performance was strong, with a year-on-year increase of 35.9% in the export value of domestic high-voltage switches in January and February.Some companies' overseas order delivery cycles have been scheduled until 2027.With the acceleration of global power grid upgrading, the advantages of Chinese suppliers in production capacity and delivery cycle are being transformed into an important source of revenue growth.
Key Projects and Construction Trends
The construction of ultra-high voltage in China has reached a new peak. During the "15th Five Year Plan" period in Inner Mongolia, the total investment in the Kubuqi power transmission bases in Shanghai and Jiangsu exceeded 127.4 billion yuan,which will directly drive the demand for GIS switches, transformers, and cable towers in the entire industry chain.In the first batch of ultra-high voltage bidding in 2026, some leading enterprises won bids with a record high amount, and their market share in a single bidding reached 44.8%, indicating a further increase in industry concentration.As the core channel for new energy transmission, the construction of ultra-high voltage has significantly benefited suppliers of core equipment such as converter valves and composite electrical appliances.
Enterprise Operations and Technological Breakthroughs
Some leading enterprises dominate in sub sectors such as ultra-high voltage GIS switches and converter transformers, with some products having a market share of over 40%. Some companies are expected to achieve a year-on-year revenue growth of up to 75.82% in the first quarter of 2026, and make breakthroughs in cutting-edge technologies such as flexible DC and solid-state transformers, with multiple technical indicators reaching international leading levels.In terms of manufacturing, some multinational enterprises are promoting the intelligent manufacturing of medium voltage switches and the application of flexible production lines to improve delivery efficiency.Some enterprises' digital production lines will be put into busy production in April 2026, with products covering intelligent switchgear of 220kV and below, exported to more than 50 countries.
Industry standards and enterprise rankings
The international standard "Additional Requirements for Intelligent Complete Equipment",which China has led the development of in the field of low-voltage complete equipment, has been officially released, filling the gap in relevant international standards and enhancing the industry's discourse power.
