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North America Medium Voltage Switchgear Market Share

Report ID: GMI4438
Published Date: Dec 2024
Report Format: PDF

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North America Medium Voltage Switchgear Market Share

Leading companies such as ABB and Siemens continue to maintain their leadership in the vacuum-insulated low voltage industrial switchgear market by capitalizing on their technological expertise, innovative product portfolios, and extensive global reach. They offer advanced solutions like digital substations, which enable real-time monitoring, boost automation, and support predictive maintenance—critical components for ensuring grid stability and improving operational efficiency. Through their robust research and development efforts, these industry giants consistently introduce state-of-the-art technologies that aid in renewable energy integration and drive the adoption of smart grid solutions.

North America Medium Voltage Switchgear Market Companies

Major players operating in the North America medium voltage switchgear industry are:

ABB
Bharat Heavy Electricals
CG Power and Industrial Solutions
E + I Engineering
Eaton
Fuji Electric
General Electric
HD Hyundai Electric
Hitachi
Hyosung Heavy Industries
Lucy Group
Mitsubishi Electric
Ormazabal
Schneider Electric
Siemens
Skema
Toshiba

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The North America medium voltage switchgear market was reached USD 9.2 billion in 2024 and is projected to grow at a 6.1% CAGR from 2025 to 2034, driven by increasing investments in renewable energy and grid modernization.

The ≥ 21 kV to < 27 kV segment is expected to surpass USD 3.9 billion by 2034, as utilities upgrade infrastructure to handle higher voltage capacities and improve grid stability.

The component segment is anticipated to grow at a CAGR of over 5% through 2034, fueled by the rising demand for advanced components like smart sensors and digital controllers that enable real-time monitoring and fault detection.

The U.S. medium voltage switchgear market is projected to exceed USD 9.7 billion by 2034, led by investments in grid modernization and the transition to more reliable and efficient power distribution systems.

Key players in the market include ABB, Bharat Heavy Electricals, CG Power and Industrial Solutions, E + I Engineering, Eaton, Fuji Electric, General Electric, HD Hyundai Electric, Hitachi, Hyosung Heavy Industries, Lucy Group, Mitsubishi Electric, Ormazabal, Schneider Electric, Siemens, Skema, and Toshiba.