North America Switchgear Market size to exceed $25bn by 2025
Published Date: April 16, 2019 Authors: Ankita Bhutani, Abhigyan Tathagat
North America Switchgear Market share by 2025, will surpass USD 25 billion as reported in the latest study by Global Market Insights, Inc.
Growing expenditure toward infrastructural development along with regulatory measures for the expansion of electricity network across grid isolated regions will augment the switchgear market size across North America. In addition, substantial upsurge in power demand in line with growing concern toward the enhancement of conventional power grid will propel the industry scenario.
Low Voltage (LV) switchgear market size by 2025 is anticipated to surpass USD 13 billion on account of its wide applicability across electricity sector and process industries. Favorable power distribution reforms coupled with growing demand for smart monitoring & control units will augment the industry landscape.
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Air insulation-based switchgear market share will expand on account of low capital investment and effective operational safety. Increasing investment toward technology and product enhancements will complement the overall industry scenario. Gas insulated units in 2018 accounted for over 13% of the industry share. Furthermore, High dielectric strength, improved reliability, minimal maintenance, and low space requirement are the key parameters which make its deployment favorable over its substitutes.
Inclination shift in reference to energy efficiency and rising concern toward the integration of diverse frequency transmission links will boost the industrial switchgear market. Growing community-based electrification programs in line with rising private investment from institutions including Asian Development Bank, International Finance Corporation and World Bank will positively influence the utility switchgear industry.
Browse key industry insights spread across 224 pages with 180 market data tables & 46 figures & charts from the report, “North America Switchgear Market Size By Voltage (LV, MV, HV), By Insulation (Air, Gas, Oil, Vacuum), By Installation (Indoor, Outdoor), By Current (AC, DC), By End Use (Residential & Commercial, Industrial, Utilities) Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
DC switchgear market is projected to expand on account of rising demand for HVDC systems coupled with comparatively improved lead time requirement. Effective interconnection mechanism for alternating current (AC) circuits favored by operational versatility will further foster the industry landscape.
The U.S. switchgear market in 2018 was assessed over USD 12 Billion. Government initiatives toward refurbishment and replacement of existing power infrastructure in line with increasing demand for cost efficient technology will boost the industry scenario. Furthermore, growing demand for power along with increasing fund flow toward installation of renewable energy will positively influence the business outlook.
Major players across the North America switchgear market include ABB, Schneider Electric, Toshiba, Siemens AG, Mitsubishi Electric Systems, Ormazabal, GE, Crompton Greaves, Iljin Electric, Eaton, Hitachi Ltd., BHEL, Powell Industries, Larson & Turbo, Lucy Electric, and Hubbell, Rittal, Hyosung, Fuji Electric, and Meidensha Corporation.
North America switchgear market research report includes in-depth coverage of the industry with estimates & forecast in terms “Units” and ‘USD” from 2014 to 2025, for the following segments:
North America Switchgear Market, By Voltage
- Low Voltage
- Medium Voltage
- High Voltage
North America Switchgear Market, By Installation
North America Switchgear Market, By Insulation
North America Switchgear Market, By Current
North America Switchgear Market, By Application
- Residential & Commercial
The above information is provided on country basis for the following:
- North America