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North America MV Switchgear Market size to exceed $9bn by 2025

  • Published Date: November 25, 2019

North America MV Switchgear Market size is expected to surpass USD 9 Billion by 2025, as reported in the latest study by Global Market Insights Inc.

Rapid commercialization to upscale the overall economic growth positively influenced by FDI schemes to favor commercial and industrial developments will boost the demand for primary and secondary power distribution network. Furthermore, rapid digitalization across the industrial peripheral has appreciably infused a competitive business scenario owing to increasing energy demand from communication base stations & data centers. Increasing adoption of advanced, energy efficient, reliable and secure fire-resistant electric components have instituted a favorable business scenario.

Rising consumer inclination toward the integration of an energy efficient network will fuel the MV switchgear industry demand

The industry has been positively influenced by various sets of government mandates and guidelines, which have standardized the manufacturing and installation trends across the region. In the current industrial regime, off grid areas have been a primitive for regulators and installers as these pose a substantial growth potential for industry development and product penetration. Moreover, rising energy demand favored by favorable consumer inclination to integrate an efficient electricity infrastructure will stimulate the MV switchgear market across North America.

Flexible product configurations and diverse application are set to boost the industry growth

Switches & disconnectors in the recent years, have gained prominence on account of their diverse applicability and product versatility across electric distribution infrastructure. The product has witnessed penetration across wide range of applications varying from large scale utility-aided distribution network to small residential electricity infrastructure. With growing incorporation, manufacturers & industry participants have shifted their focus on the development & sustainable distribution of these units. Favorable consumer tendencies & product versatility positively influenced by cost-efficient product specifications will drive the business growth.

Browse key industry insights spread across 329 pages with 504 market data tables & 38 figures & charts from the report, “North America MV Switchgear Market Share By Voltage (3 kV to 9 kV, > 9 kV to 15 kV, > 15 kV to 21 kV, > 21 kV to 27 kV, > 27 kV to 33 kV, > 33 kV), By Rated Current (< 500 A, 500 to 1500 A, 1500 to 2500 A, 2500 to 3500 A, > 3500 A) By Component (Circuit Breakers, Contactors, Switches & Disconnector, Fuses, Others), By Installation (Indoor, Outdoor), By Insulation (Air, Gas, Oil, Vacuum, Others), By Enclosure (Metal {Indoor, Outdoor}, Non Metal {Outdoor}), By End-Use (Power Stations, Transformer Substations, Local Electricity Supply, Others), By Application (Residential, Commercial {Healthcare, Hospitality, Offices, Retail, Education, Others}, Industrial {Power, Oil & Gas, Railways, Arc furnace, Manufacturing & Processing Industries, Others}, Utility), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025”in detail along with the table of contents:

Rising space constraints along with increasing investments have driven the market growth

Indoor installations are projected to witness growth owing to the increasing space limitations along with rapid investments in research & development for the establishment of smart & compact control equipment. Increasing investments across residential & commercial peripherals including private & public apartments, educational premises, communication and data centers, offices, coupled with similar space restriction establishments will augment the business dynamics. Ease-of-operation & advance equipment safety are the key features which will further escalate the product growth demand.

Increasing deployment of safe & reliable electricity transmission network is set to augment the metal enclosed switchgear market size

Growing need for safe & secure electricity transmission systems will increase the deployment of metal enclosed switchgears across residential, commercial and industrial establishments. These units have earthed metallic closure which helps in reducing the risk of short circuits and electricity supply faults by transferring the excessive current in the earth. Ease of installation, advanced technology along with hassle free replacement will augment the product penetration.

Development of long distance distribution network and adoption of cross border electricity network set to drive North America MV switchgear market outlook

Growing demand owing to the increased investments for the expansion of long-route distribution networks and retrofitting of domestic distribution network have strengthened the MV switchgear market. In 2018, regulators across the U.S. introduced plans to invest an amount worth USD 10 billion to establish new electric infrastructure, which is expected to curb the decrease rate of the Western T&D Network. Rising focus on the restoration of the existing electrical equipment with enhanced high-quality systems will propel the product penetration across the region.

Eminent participants operating in North America MV switchgear market include ABB, Siemens, General Electric, Mitsubishi Electric Corporation, Schneider Electric, Crompton Greaves, Eaton & Hyosung amongst others. New technological innovations & mergers are few substantial initiatives undertaken by key industry players to hold a competitive edge over other competitive counterparts.

Authors: Ankit Gupta, Riya Gupta

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