Electrical Switch Market Size

Electrical Switch Market size was valued at USD 15.3 Billion in 2023 and is likely to reach USD 48.61 Billion by the end of 2036, expanding at around 9.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of electrical switch is assessed at USD 16.72 Billion. The growth of the market is primarily ascribed to the notable development of the electrical industry as well as rising consumer demand for energy-saving lighting systems. For instance, India's electronics manufacturing industry is estimated to be worth around USD 400 billion by the end of 2025.

Favorable government initiatives for saving electricity along with rising consumer demand for safety switches and energy-saving appliances are fueling up the demand for the electrical switch market over the forecast period.