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North America HV Switchgear Market Trends

Report ID: GMI6740
Published Date: Sep 2023
Report Format: PDF

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North America HV Switchgear Industry Trends

The North America HV switchgear market is witnessing several notable trends including the increasing adoption of smart switchgear solutions embedded with digital technologies such as IoT sensors, data analytics, and remote monitoring capabilities. This shift towards smart switchgear is driven by the need for real-time data and improved grid management, enhancing overall system efficiency and reliability. The growing emphasis on eco-friendly and sustainable switchgear solutions with lower environmental impact, pushing the industry towards gas-insulated switchgear (GIS) and mo

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of North America HV switchgear was worth over USD 402.5 million in 2023 and may record over USD 696.7 million by 2032, due to the ongoing investments in upgrading and modernizing aging electrical infrastructure in the region.

North America36 kV HV switchgear market size is anticipated to observe over 6.5% CAGR from 2023 to 2032, due to the increasing demand for energy coupled with higher government backing for sustainable electricity grids in the region.

U.S. HV switchgear industry size will register over 5.5% CAGR from 2023 to 2032, due to the increasing focus on refurbishing the transmission and distribution infrastructure, including substations and high voltage lines in the nation.

General Electric, Siemens Energy, Mitsubishi Electric Corporation, Hitachi Energy Ltd., Bharat Heavy Electricals Limited, CG Power & Industrial Solutions Ltd., CHINT Group, Powell Industries, among others.