Taking low-voltage switchgear for research object, based on a large number of domestic mainstream manufacturers, arithmetic mean value of percentages of components of several typical configurations from the total cost was regarded as cost sensitivity of various components of the low-voltage switchgear for analyzing similarities and differences of cost sensitivities of domestic and joint venture manufacturers. Using multiple regression analysis method and on the premise of ensuring voltage level, function and type, the cost of low-voltage switchgear can be obtained by inputting low-voltage switchgear’s capacity, rated current and rated compensation capacity so as to establish a cost estimation model for low-voltage switchgear, which was useful to guide determination and estimation on purchasing target price of power grid materials.