North America Residential Switchgear Market - By Installation, By Current, By Voltage & Forecast, 2024 - 2032

North America Residential Switchgear Market Size

North America residential switchgear market size in 2023 was valued at USD 3.3 billion and is anticipated to grow at a CAGR of 8.3% between 2024 and 2032 is experiencing significant growth due to the rising demand for energy-efficient electrical equipment and the modernization of existing electrical infrastructure.
 

Switchgear is an essential component in residential electrical systems that plays an important role in ensuring the safe and efficient distribution of electrical power by managing, protecting and isolating electrical circuits. Additionally, the push towards renewable energy integration within residential spaces has necessitated the need for switchgear capable of handling variable energy sources.
 

Manufacturers are expected to focus on developing more cost-effective, user-friendly, and technologically advanced switchgear products to meet the evolving needs of homeowners. As the market continues to grow, the increase in competition and innovation which leads to a broader range of options for consumers seeking to enhance their home electrical systems. The ongoing developments in electrical infrastructure and increasing consumer demand for advanced switchgear solutions is expected to expand significantly in the coming years that offers lucrative opportunities for regional players.

North America Residential Switchgear Market Trends

Governments across the region are implementing policies and incentives to encourage the adoption of clean energy sources, leading to a rise in residential solar installations. The surge in energy consumption necessitates the installation of more sophisticated and reliable switchgear to manage the increased load and prevent electrical failures. Homeowners invest in renewable energy for a growing need for switchgear that can integrate the systems into the existing electrical grid.
 

Additionally, manufacturers are focusing on enhancing the safety features of residential switchgear which is incorporating advanced protection mechanisms to prevent electrical faults and reduce the risk of fire. The government’s initiative push for energy-efficient buildings has further accelerated the adoption of advanced switchgear in urban areas. The development of compact modular switchgear systems is gaining popularity as these systems offer flexibility and ease of installation in residential buildings where space is limited.
 

North America Residential Switchgear Market Analysis

Based on installation, the indoor segment is expected to overtake USD 5.8 billion by 2032. Indoor switchgear is designed to install inside building which is gaining traction due to its ability to provide secure and efficient distribution of electricity in confined spaces. The rapid advancements in technology have also played a significant role in the growing adoption of indoor switchgear. Modern indoor switchgear units are equipped with advanced features such as smart monitoring, remote control, and automated fault detection, through which it enhances the performance and efficiency of switchgear, that offers homeowners greater control over their electrical systems.
 

Based on current, AC segment is anticipated to grow with a rate of 8.0% by 2032. AC switchgear is the safe and efficient distribution of electricity in residential settings. It is increasingly being equipped with smart features, such as remote monitoring, diagnostics, and automated fault detection. These advancements enhance the safety and reliability of electrical systems and contribute to energy savings by optimizing power distribution and reducing losses. AC switchgear provides the necessary foundation to enable the seamless operation of smart devices and appliances.
 

The U.S. residential switchgear market is anticipated to surpass 4.9 billion by 2032, driven by various factors including increased urbanization, rising demand for electricity, and the growing adoption of smart home technologies. It encompasses devices that protect, control, and isolate electrical equipment which is an essential component of residential electrical systems. The market is anticipated to see further innovation with manufacturers developing more cost-effective and user-friendly solutions that cater to the evolving needs of residential customers.
 

North America Residential Switchgear Market Share

Companies such as ABB, Siemens, Hitachi Energy Ltd., Eaton and Mitsubishi Electric Corporation hold significant shares in their strong regional presence. Their ongoing investments and expansions in the North America region mark the importance of this market in their strategies to ensure forefront of industry developments. ABB's commitment to innovation is evident in its development of cutting-edge technologies that enable smarter and more efficient operations across multiple industries. The company's extensive presence in the North America region further solidifies its position as a leader, contributing significantly to its global market share.
 

North America Residential Switchgear Market Companies

• ABB
• Chint Group
• E + I Engineering
• Eaton Corporation
• Fuji Electric
• Hitachi
• Hyundai Electric & Energy Systems
• Mitsubishi Electric Corporation
• Powell Industries
• Regal Rexnord Corporation
• Schneider Electric
• Toshiba Corporation
• Siemens
   

North America Residential Switchgear Industry News

• In October 2023, Siemens announced a USD 150 million investment in a new manufacturing facility in the Dallas-Fort Worth area. This facility will focus on producing reliable electrical equipment to support U.S. data centers and critical infrastructure, particularly as the adoption of generative AI continues to grow. This strategic initiative is designed to enhance the security and efficiency of critical infrastructure operations. Siemens aims to address the increasing demand in the data center sector, thereby strengthening its long-term support for customers in this rapidly evolving industry.
   

North America residential switchgear market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” & “000 Units” from 2021 to 2032, for the following segments:

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Market, By Installation

• Indoor
• Outdoor

Market, By Current

• AC
• DC

Market, By Voltage

• Low
• Medium

The above information has been provided for the following countries across the North America:

• U.S.
• Canada
• Mexico