North America Medium Voltage Switchgear Market Analysis

North America Medium Voltage Switchgear Market Analysis

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Based on voltage, ≥ 21 kV to < 27 kV segments in the North America medium voltage switchgear market is anticipated to surpass USD 3.9 Bn by 2034 since utilities are upgrading their infrastructure to handle higher voltage capacities and improve grid stability. The range of ≥ 21 kV to < 27 kV is commonly used in distribution networks for large-scale residential, commercial, and industrial applications. This demand is growing as utilities and industries prioritize reliable power supply and reduced transmission losses.

Based on component, the new segment in the North America medium voltage switchgear market is projected to achieve a CAGR of over 5% by 2034, since The demand for advanced components such as smart sensors, digital controllers, and automated monitoring systems is increasing. These components enable medium voltage switchgear to offer enhanced functionality, such as real-time data collection, fault detection, and remote monitoring. With the ongoing shift towards smart grids and automated systems, components that support these capabilities are becoming increasingly essential, driving growth in the component segment.

The U.S. medium voltage switchgear market is projected to surpass USD 9.7 Bn by 2034 since a significant portion of the U.S. electrical infrastructure is aging, leading to increased investment in grid modernization. The transition to more reliable, efficient, and secure power distribution systems is spurring the demand for medium voltage switchgear. As utilities and industries upgrade their equipment, medium voltage switchgear is essential to ensure that power is distributed safely and reliably, thus driving market growth.