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North America Low Voltage (LV) Switchgear Market Trends

Report ID: GMI6773
Published Date: Sep 2023
Report Format: PDF

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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.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market valuation of LV switchgear in North America was exceeded USD 13.1 billion in 2023 and may record over USD 23.2 billion by 2032, due to the increasing deployment of data centers, industrial automation, and commercial construction projects in the region.

North America LV switchgears circuit breakers market is expected to witness over 6% CAGR from 2023 to 2032, due to higher application scope within large industrial sectors, such as metal and mining industries, as well as railway infrastructure.

U.S. LV switchgear industry size is expected to register over 5.5% CAGR from 2023 to 2032, owing to the substantial surge in the adoption of renewable energy sources, particularly solar and wind power in the nation.

Powell Industries, Mitsubishi Electric Corporation, Hyosung Heavy Industries, General Electric, Chint Group, Eaton, WEG, Regal Rexnord Corporation, ABB, Hitachi, Ltd., Schneider Electric, among others.