North America Low Voltage (LV) Switchgear Market Size - By Protection (Circuit Breakers, Fuse), Product (Fixed Mounting, Plug-In Withdrawable Unit), Current (AC, DC), Application (Substation, Distribution, Motor Control), Rated Current, Voltage Rating & Forecast, 2023 – 2032

North America LV Switchgear Market Size

North America LV Switchgear Market size was valued at around USD 12 billion in 2022 and is estimated to expand at 6.6% CAGR between 2023 and 2032. Driven by increasing deployment of data centers, industrial automation, and commercial construction projects. The aging power infrastructure and the imperative for grid resilience are prompting investments in LV switchgear for upgrading infrastructure and enhancing grid reliability.
 

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As the shift towards cleaner energy sources gains momentum, low voltage switchgear becomes crucial for efficiently distributing electricity from various renewable generation systems. Moreover, government initiatives focused on energy efficiency, grid modernization, and carbon emission reduction are fostering a supportive regulatory environment, encouraging the adoption of LV switchgear with advanced features and capabilities.
 

COVID-19 Impact

The COVID-19 pandemic had a mixed impact on the North America LV switchgear market. In the early stages of the pandemic, there were disruptions in supply chains, manufacturing delays, and project postponements, which temporarily slowed down the market's growth. Lockdowns, social distancing measures, and economic uncertainties affected construction activities and infrastructure projects, leading to reduced demand for LV switchgear. However, as the pandemic continued, there was a notable shift towards remote working and increased reliance on digital infrastructure, which drove demand for data centers and related LV switchgear solutions to support these facilities.
 

North America LV Switchgear Market Trends

The North America LV switchgear market is observing a substantial demand growth, owing to the growing shift towards smart LV switchgear, driven by the need for more advanced monitoring, control, and data analytics capabilities in electrical distribution systems. This trend aligns with the broader adoption of digital technologies and the Industrial Internet of Things (IIoT) in industrial and commercial sectors. Additionally, there is an increasing focus on sustainability and energy efficiency, prompting the development of eco-friendly LV switchgear solutions that reduce energy losses and minimize environmental impact.
 

North America LV Switchgear Market Analysis

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The circuit breakers segment is poised to witness 6% CAGR through 2032. The deployment of utility-scale systems involves integrating electrical lines with high voltage and current ratings, necessitating efficient circuit junctions to prevent voltage fluctuations and mitigate fire risks. This is particularly crucial in the context of critical power distribution networks within large industrial sectors, such as metal and mining industries, as well as railway infrastructure. The adherence to standard product specifications, driven by the high costs associated with replacements in large-scale applications, will contribute to the North America LV switchgear market growth.
 

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The market for fixed mounting low-voltage switchgears was worth USD 4.9 billion in 2022 and is predicted to reach USD 8.9 billion in 2032, due to a convergence of factors that collectively drive product expansion. Fixed mounting LV switchgears play a pivotal role in facilitating efficient energy transfer and management across a wide spectrum of applications, including industrial, commercial, and residential settings. Furthermore, the ongoing integration of renewable energy sources, such as solar and wind power, into the grid necessitates the effective management of intermittent power generation.
 

The > 1000 Ampere to ≤ 5000 Ampere rating switchgears are estimated to attain a CAGR of over 7% during 2023 and 2032, owing to large-scale industrial developments across the region and the development of secondary distribution electrical networks. These switchgear units cater effectively to the needs of small-scale industrial and commercial applications, thereby driving North America LV switchgear market. The rising desire for technologically advanced products with versatile capabilities in both primary and secondary energy networks will enhance the overall market prospects for switchgears rated between >1,000 and ≤5,000 amperes.
 

The LV switchgear market from > 750 volts rating was exceeded USD 4.9 billion in 2022 and is projected to surpass USD 8.9 billion in 2032. The ever-expanding automotive industry, along with robust developments in electrical infrastructure, has propelled the demand for switchgear units rated above 750 volts. Additionally, the incorporation of reliable and efficient distribution technologies, coupled with the deployment of low-voltage switchgear units in critical power applications, aviation facilities, co-generating plants, and water treatment facilities, is set to accelerate the growth trajectory of the North America LV switchgear market.
 

The substation application market has emerged as a prominent segment, commanding a market share of over 35% in 2022. This growth can be attributed to the rapid pace of urbanization and the integration of renewable energy sources. The phenomenon of rapid urbanization is fueling the expansion of urban areas and driving the demand for dependable power infrastructure solutions. Substations play a pivotal role in urban power distribution by efficiently directing electricity to various endpoints within cities, thus meeting the energy demands of densely populated regions.
 

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U.S. LV switchgear market is anticipated to grow at a CAGR of over 5.5% up to 2032, on account of a substantial surge in the adoption of renewable energy sources, particularly solar and wind power. Low-voltage switchgears are pivotal in seamlessly integrating these renewables into the grid and effectively managing their intermittent nature. The drive for smart grid technologies and grid modernization efforts is propelling the uptake of advanced low-voltage switchgear solutions. These systems facilitate real-time monitoring, control, and optimization of power distribution networks, thereby enhancing their reliability and efficiency.
 

North America LV Switchgear Market Share

Some of the eminent industry participants across the North America LV switchgear market include

• Powell Industries
• Mitsubishi Electric Corporation
•  Hyosung Heavy Industries
• General Electric
• Chint Group
•  Eaton
• WEG
•  Regal Rexnord Corporation
• ABB
• Hitachi, Ltd.
•  Schneider Electric
• Siemens
• E+I Engineering
• Hyundai Electric & Energy Systems Co., Ltd.
• RESA Power, LLC.

North America LV Switchgear Industry News:

• In November 2021, ABB launched the NeoGear four-pole low-voltage switchgear and the 690 V versions. The product is designed to eliminate harmful exposures to live parts and utilizes 92% fewer busbar components compared to the traditional switchgears with 90% fewer electrical joints that improve switchgear availability. This launch expanded the company’s product range of LV switchgears and further enabled them to deliver optimized performance, safety improvements & digital connectivity including predictive maintenance & real-time condition monitoring.
   
• In October 2021, Schneider Electric launched its first connected by default primary switchgear. This advanced & scalable solution facilitates condition-based monitoring through an EcoStruxure Asset Advisor, which reduces switchgear failures. The product was designed for utilization across critical installations such as metals, mining, automotive manufacturing, oil & gas production, and critical installations. This launch enabled the company to expand its product range across the low voltage switchgear industry.
   

This North America LV switchgear market research report includes an in-depth coverage of the industry with estimates & forecast in terms of ‘000 Units & USD Million from 2019 to 2032, for the following segments:

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By Protection

• Circuit Breakers
  • ACB
  • MCCB
  • MCB
  • MSP
  • MPCB
• Fuse
  • Fuse-Switch Disconnector
  • Switch Disconnector with Fuse
  • Others

By Product

• Fixed mounting
• Plug-in
• Withdrawable Unit

By Rated Current

• ≤ 1000 Ampere
• > 1000 Ampere to ≤ 5000 Ampere
• > 5000 Ampere

By Voltage Rating

• ≤ 250 volts
• > 250 volts to ≤ 750 volts
• > 750 volts

By Current

• AC
• DC

By Application

• Substation
• Distribution
• Power Factor Correction
• Sub Distribution
• Motor Control

The above information has been provided for the following countries:

• U.S.
• Canada
• Mexico