North America Low Voltage Switchgear Market Size - By Protection, By Product, By Rated Current, By Voltage Rating, By Current, By Application, Analysis, Share, & Forecast, 2025 - 2034
Report ID: GMI6773
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Published Date: March 2025
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Report Format: PDF
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Base Year: 2024
Companies covered: 15
Tables & Figures: 20
Countries covered: 3
Pages: 122
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North America Low Voltage Switchgear Market
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North America Low Voltage Switchgear Market Size
The North America low voltage switchgear market was valued at USD 14 billion in 2024 and is estimated to reach the value of USD 25.7 billion by 2034, growing at a CAGR of 6.1% from 2025 to 2034, driven by increasing investments in power distribution infrastructure, rapid urbanization, and the expansion of industrial and commercial sectors. The rising demand for energy-efficient electrical systems, coupled with technological advancements, is further accelerating market expansion.
The ongoing expansion of commercial and residential infrastructure in the U.S. and Canada is creating strong demand for LV switchgear. In 2023, the federal government spent USD 44.8 billion on infrastructure in 2023 and transferred an additional USD 81.5 billion to states. These expenditures will boost the commercial activities, thereby creating a need for low voltage switchgear across North America.
Smart city initiatives and modernization of aging grid infrastructure are leading to the deployment of advanced switchgear solutions. The U.S. electric grid is an engineering marvel with more than 9,200 electric generating units having more than 1 million megawatts of generating capacity connected to more than 600,000 miles of transmission lines. These figures also indicate the promising future for the North America low voltage switchgear market.
The growth of industries including manufacturing, automotive, oil & gas, and data centers is fueling the adoption of LV switchgear. In August 2024, the U.S. produced an average of 13.4 million barrels of crude oil per day, whereas upstream oil and gas dealmaking reached USD 105 billion. Therefore, the growth in these end use industries will propel the demand for electrical infrastructure, thereby boosting the LV switchgear requirement in the region.
The transition towards renewable energy sources, including solar and wind, is driving the need for advanced LV switchgear for grid stability and integration. Many Canadian cities have a solar potential that is comparable internationally with that of many major cities. In 2024, the Canadian solar energy market reached 7.4 GW in 2024. Therefore, the rising focus on renewable energy will also drive the North America LV switchgear market in coming years.
North America Low Voltage Switchgear Market Trends
North America Low Voltage Switchgear Market Analysis
North America Low Voltage Switchgear Market Share
Top 4 companies including General Electric, Siemens, ABB, Schneider Electric hold more than 40% market around the world. The major companies consistently work on new products and solutions which makes them a crucial part of the industry globally. These companies place a low focus on investment, especially on research and development. Besides, these companies apply different methods of market development in order to obtain considerable shares in the industry.
North America Low Voltage Switchgear Market Companies
Major players operating in the North America low voltage switchgear market are:
North America Low Voltage Switchgear Industry News
This North America low voltage switchgear market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” and “’000 Units” from 2021 to 2034, for the following segments:
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Market, By Protection
Market, By Product
Market, By Rated Current
Market, By Voltage Rating
Market, By Current
Market, By Application
The above information has been provided for the following countries: