North America Low Voltage Switchgear Market Size & Share 2025 - 2034

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

• The aging commercial and industrial infrastructure activities in North America necessitates significant upgrades and replacements. Countries including U.S. and Canada made investments in infrastructure, housing, and communities. In 2024, through the Canada Housing Infrastructure Fund, Canada, spent USD 6 billion over 10 years to improve water, wastewater, stormwater, and solid-waste infrastructure.
   
• Additionally, Canada, with the help of Green and Inclusive Community Buildings Program, announced to spend USD 500 million top-up until March 2029 to improve energy efficiency, reduce pollution, and build resiliency to climate change. The Canadian Infrastructure Council will deliver the first National Infrastructure Assessment (NIA) to help identify Canada's future infrastructure needs.
   
• Industries are increasingly adopting automation and smart technologies to enhance operational efficiency. This trend necessitates advanced LV switchgear that can support automated processes and intelligent energy management systems. Companies are also putting efforts to bring technological revolutions, creating a sharp need for LV switchgear across the North America.
   
• The shift towards cleaner energy sources, including wind and solar, requires the integration of these variable power inputs into the existing grid. This transition drives the need for sophisticated LV switchgear capable of managing diverse energy sources and ensuring stable power distribution. According to the GWEC, more than 410 GW of offshore wind capacity is projected to be added over the next decade (2024-2033) in Mexico.
   
• Moreover, the rapid growth of data centers, driven by the increasing demand for cloud computing and data storage solutions, requires reliable and efficient power distribution. LV switchgear plays a critical role in ensuring uninterrupted power supply to these facilities. Therefore, the growing need of LV switchgear will significantly boost the overall market of LV switchgear in the North America.
   

North America Low Voltage Switchgear Market Analysis

• The North America low voltage switchgear industry was valued at USD 12.1 billion, USD 13.1 billion and USD 14 billion in 2022, 2023 and 2024 respectively. This growth is mainly due to growing urban expansion and rising industrial activities that require robust power distribution networks, increasing demand for North America low voltage switchgear.
   
• In the North America low voltage switchgear market, based on protection, circuit breakers segment is projected to reach more than USD 16.5 billion by 2034 and will significantly grow in coming years mainly due to the increasing demand for reliable and efficient power distribution systems across residential, commercial, and industrial sectors.
   
• The government from various countries are also investing significantly to expand their business, creating a strong platform for the North America low voltage switchgear market in coming years. For instance, in 2024, Mexican government has presented the National Strategy for the Electricity Sector 2024-2030, intending to invest USD 23bn in the state-owned Federal Electricity Commission (CFE).
   
• The fuse segment is also expected to hold the market share of 65.4% in 2024. An electric fuse is a crucial protective component in the low voltage (LV) switchgear market, ensuring the safety and reliability of electrical distribution systems. It serves as a simple yet effective device for overcurrent and short-circuit protection in residential, commercial, and industrial applications.
   
• Compared to circuit breakers, fuses are cost-effective, easy to install, and require minimal maintenance, making them a preferred choice in various applications. They are particularly useful in industries where sensitive equipment needs rapid fault isolation, ensuring uninterrupted operations in sectors such as telecommunications, healthcare, and automation.
   
• The rising number of housing infrastructure in U.S. and Canada will considerably creating a need for LV switchgears. In U.S., private construction spending in 2024 was USD 1,661.7 billion, a 5.6% increase from 2023. Additionally, residential construction spending in 2024 was USD 917.9 billion, a 5.9% increase from 2023.
   

Learn more about the key segments shaping this market

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• In the North America low voltage switchgear market, based on product, the fixed mounting segment is anticipated to grow with CAGR of more than 5.5% through 2034 and is expected to continue its upward trajectory due to its cost-effectiveness, high reliability, ease of installation, and suitability for various applications. This segment holds a crucial position in the market because of its widespread adoption in industrial, commercial, and utility sectors for power distribution and protection.
   
• The rising electricity consumption is growing in North America due to growing population, thereby creating a requirement for the electrical infrastructure. In 2023, the U.S. consumed 4,000 terawatt-hours of electricity, making it the second-largest electricity consumer in the world. The U.S. Energy Information Administration (EIA) projected that U.S. power consumption will further increase to record highs in 2025.
   
• The plug-in segment is also projected to cross USD 8.6 billion by 2034 due to its growing adoption in modular and flexible power distribution systems across residential, commercial, and industrial applications. The plug-in segment is gaining traction due to its ease of installation, reduced maintenance, and enhanced safety features. Compliance with stringent safety regulations, such as IEC and ANSI standards, is also fueling market growth.
   
• The withdrawable unit segment plays a vital role in the low voltage (LV) switchgear market due to its enhanced safety, ease of maintenance, and operational flexibility. Unlike fixed switchgear, withdrawable units allow for quick removal and replacement of circuit breakers and other components without shutting down the entire system. This feature significantly reduces downtime and ensures continuous power supply, making it ideal for applications where uninterrupted operations are critical.
   
• The companies are innovating numerous products and systems, to gain considerable market share in this industry. To expand their business, companies are investing in multiple industries, helping the North America low voltage switchgear industry grow across the world. In 2024, L&T rebranded its name to Lauritz Knudsen and declared investment of 9 million for the business expansion of switchgear.
   

• The U.S. North America low voltage switchgear market in 2022, 2023 and 2024 was valued at USD 8.1 billion, USD 8.7 billion and USD 9.3 billion respectively. The growth is mainly attributed to the rising demand for electricity. The U.S. is investing significantly in infrastructure projects including power distribution and transmission. In 2024, capital investment in the transmission of electricity increased USD 2.7 billion.
   
• Utilities, power grids and private companies are investing in transmission to meet soaring demand from AI and clean power plants. In 2024, the U.S. Department of Energy's Grid Deployment Office (GDO) announced an investment of USD 1.5 billion in 4 transmission projects. These all projects will significantly boost the demand for LV switchgear, growing its market across the region.
   
• Additionally, the end use industries including oil and gas, mining, manufacturing are also expanding on a large scale with the growing need for the electricity demand. The EIA forecasts that North America's LNG export capacity will increase from 11.4 billion cubic feet per day (Bcf/d) in 2023 to 24.4 Bcf/d in 2028. This rising number indicate that the demand for the electrical infrastructure will also increase, thereby driving the North America LV switchgear market.
   
• The Canada is also growing remarkably in the manufacturing industry, rising the demand for LV switchgears.  In 2023, the manufacturing sector in Canada had a revenue of USD 935.6 billion, a 1.7% increase from the previous year. Canadian manufacturers export more than USD 354 billion each year, which is 68% of Canada's merchandise exports.
   
• The Mexican government has also actively implemented supportive policies to encourage renewable energy development, aiming for a significant portion of electricity to come from renewable sources by 2024. In 2024, Mexico set the target to achieve a goal of generating 35% of its power supply from renewable energy sources based on government policies. Therefore, the demand for LV switchgear will considerably increase in North America, thereby driving its market across the region.
   

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

• In November 2024, Mitsubishi has announced plans to construct an advanced switchgear factory in Western Pennsylvania. The company, which specializes in secure and sustainable energy systems and solutions, will invest USD 86 million into the project, generating 200 new jobs in the process.
   
• in March 2023, Siemens invested USD 32.61 million to expand its switchgear plant in Frankfurt-Fechenheim. A smart, fully automated high-speed warehouse and a 1,200 square-meter extension to an existing hall are being built on the 160,000 square-meter site.
   
• In March 2022, GE Renewable Energy's Grid Solutions launched the world's first 420 kV, 63 kA g3 gas-insulated substation (GIS) circuit-breaker1 prototype. The g3 circuit breaker was presented to a group of leading transmission utilities.
   

Major players operating in the North America low voltage switchgear market are:

• ABB
• CG Power and Industrial Solutions
• CHINT Group
• Eaton
• Fuji Electric
• General Electric
• HD Hyundai Electric
• Hitachi
• Hyosung Heavy Industries
• Lucy Group
• Mitsubishi Electric
• Ormazabal
• Schneider Electric
• Siemens
• Skema
• Toshiba
   

North America Low Voltage Switchgear Industry News

• In July 2024, Hitachi Energy announced plans to invest an additional USD 155 million USD to expand its manufacturing capacity in North America. This includes the construction of a new distribution transformer factory in Reynosa, Mexico, and expansions to its transformer factory in South Boston, Virginia, and its low-voltage switchgear and breakers factory in Mount Pleasant, Pennsylvania.
   
• In February 2023, the U.S. Department of Energy announced USD 48 million in funding to support a new program focused on developing power grid technologies that improve control and protection of the domestic power grid. This initiative aligns with broader goals to accelerate renewable energy deployment and achieve 100% clean electricity by 2035.
   
• December 2022: Gluware Inc. announced a U.S. distribution agreement with Micro Inc.'s Energing Vendor Business Unit (EBG). This agreement allows value-added resellers (VARs) and solution providers to add Gluware's Intelligent Network Automation Suite to their offerings and provide network automation services to existing customers.
   

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

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

Market, By Product

• Fixed mounting
• Plug-in
• Withdrawable Unit

Market, By Rated Current

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

Market, By Voltage Rating

• ≤ 480 Volts
• > 480 Volts to ≤ 1 kV
• > 1 kV

Market, By Current

• AC
• DC

Market, 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