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North America Switchgear Market Share

Report ID: GMI3241
Published Date: May 2023
Report Format: PDF

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North America Switchgear Market Share

Some of the major market players operating across the North America switchgear market are:

Siemens
ABB
General Electric
Schneider Electric
Mitsubishi Electric Corporation
Ormazabal
CG Power & Industrial Solutions Ltd
CHINT Group
HYOSUNG HEAVY INDUSTRIES
Hyundai Electric & Energy Systems Co.
Powell Industries
Regal Rexnord Corporation
E+I Engineering
Fuji Electric Co.Ltd
Hitachi Ltd and Eaton.

These players focus on new product launch & commercialization and strategic partnerships for market expansion. Furthermore, these players are increasingly investing in research & development activities, which enable them to introduce innovative products and garner maximum revenue in the market.

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

North America switchgear market was worth USD 23.4 billion in 2022 and will progress at a 6.4% CAGR between 2023 and 2032 propelled by the rising demand for refurbishing electrical infrastructure and investments in grid infrastructure.

The U.S. switchgear market is slated to accrue significant revenues by 2032 as a result of the growing transmission and distribution refurbishment industry and increased investments in high-capacity alternative energy sources in the country.

The low voltage segment accounted for more than USD 11.5 billion in 2022 as a result of regulatory mandates and guidelines focusing on ensuring product standardization and influencing manufacturing and deployment trends.

The commercial & industrial application segment is anticipated to grow at over 5% CAGR through 2032 owing to the growing population in cities and efforts to ensure electrification in grid-isolated areas.