North America Residential Switchgear Market Size - By Installation, By Current, By Voltage, Analysis, Share, Forecast, 2025 - 2034

North America Residential Switchgear Market Size

The North America residential switchgear market size was valued at USD 3.6 billion in 2024 and is estimated to reach the value of USD 7.8 billion by 2034, growing at a CAGR of 7.9% from 2025 to 2034, due to the effortless access to reliable power supply as well as the increasing adoption of energy-efficient solutions. Enhanced demand for smart home technologies is one of the most significant factors related to this growth. These advancements in technology offer increased control and monitoring of energy consumption which more and more users are opting for.
 

Homeowners are increasingly using smart devices that enhance safety such as smart circuit breakers and automated switchgear. Marked attention on eco-friendliness stands as another reason for the amplified focus on market growth. Homeowners are becoming more aware of the consequences of energy consumption; hence they are shifting towards systems that use less power.
 

In 2024, U.S. electricity demand is projected to reach record highs, with consumption expected to rise to 4.101 trillion kilowatt-hours (kWh), driven by factors like data center expansion, manufacturing growth, and the electrification of transportation and buildings. The U.S. Energy Information Administration (EIA) projected that electricity demand will reach record highs in 2024 and 2025, with 4.101 trillion kWh in 2024 and 4.185 trillion kWh in 2025.
 

Many governments, along with significant investments, across North America are also supporting this shift by introducing regulations and incentives aimed at promoting energy-efficient electrical systems. Spending on electricity transmission systems nearly tripled from 2003 to 2023, increasing to USD 27.7 billion. This spending will bring many projects in the electrical industry and therefore the demand for residential switchgear will be increasing in coming years.
 

The shift toward renewable energy is also having a positive impact on the residential switchgear market. With the adoption of solar panels and other forms of renewable energy by more households, there is an increasing demand for sophisticated switchgear systems capable of power management, grid stability, and auxiliary services towards the power system. These systems are instrumental in mitigating the supply side variability and maintaining the seamless connection of residences to the power grid.
 

North America Residential Switchgear Market Trends

One of the primary trends influencing this market is the advanced adoption of smart switchgear systems. Homeowners are now purchasing smart circuit breakers and switchgear systems that can be remotely monitored and controlled through a smartphone or other technological devices. These systems offer real-time data regarding energy consumption and enable effective power management, thus enhancing savings and efficiency of the overall energy system.
 

The growing adoption of BESS systems and residential solar power systems are impacting on the design of LV switchgear. In 2024, approximately 65.5 GW of solar PV was reported to be installed in the EU, which translates to a 4% growth in YoY growth. Houses with renewable energy sources are beginning to require switchgear with two-way power flow control. Such systems guarantee seamless energy transfer, which mitigates voltage oscillations and strengthens grid reliability.
 

Modern switchgear solutions ensure seamless transition between energy sources while preventing overloads and maintaining grid stability, which is essential as renewable energy adoption continues to grow. With the increasing adoption of solar panels and other renewable energy technologies by households, the demand for efficient switchgear capable of managing bidirectional power flow has become indispensable. These sophisticated systems not only control the interplay of power between the grid and residential renewables but also assist in the balancing of energy supply with demand to avert system failures or blackouts.
 

A further notable development is the adoption of renewable energy, especially solar energy, at the residential level. With homes installing solar panels, there is an increasing demand for sophisticated switchgear capable of controlling the flow of power both to and from the grid and renewables. In 2024, Canada deployed 314 MW of solar, a decrease from the 765 MW added in 2023, bringing the cumulative utility-scale solar capacity to over 4 GW and on-site solar capacity to over 1 GW.
 

Additionally, safety and reliability enhancements in residential electrical systems are gaining more attention. With the increasing complexity of modern electrical systems, homeowners are prioritizing switchgear that offers better fault detection, surge protection, and enhanced safety features. This has led to a growing demand for products that can prevent equipment damage and protect homes from electrical hazards.
 

North America Residential Switchgear Market Analysis

• In 2022, 2023, and 2024, the North America residential switchgear market was USD 3 billion, USD 3.3 billion, and USD 3.6 billion respectively. This growth was propelled by an increasing implementation of renewable energy, such as solar at the residential level, alongside the adoption of smarter switchgear systems. The incorporation of solar panels and storage batteries in homes created a substantial requirement for sophisticated switchgear capable of seamlessly controlling power flow to and from the grid.
   
• Based on installation, an indoor segment is anticipated to cross USD 6.6 billion by 2034 owing to the increasing demand for compact, safe, and efficient electrical systems in modern residential settings. As urbanization accelerates and more high-rise apartments and multi-family homes are constructed, the need for indoor switchgear systems that provide reliable power distribution and fault protection has grown significantly.
   
• Based on installation, an outdoor segment is anticipated to cross USD 1 billion by 2034, owing to the increasing investments in infrastructure development, renewable energy projects, and smart city initiatives. Growing demand for weather-resistant, durable, and UV-protected conduits and cable management systems further drives this segment's growth.
   
• The countries including U.S., Canada and Mexico are significantly investing in utility sectors, driving the demand for the residential switchgear market in North America. In 2024, Mexico attracted a record USD 36.87 billion in Foreign Direct Investment (FDI), driven by reinvestment of profits by companies already established in the country, with the United States being the top FDI source.
   
• Similarly, in Canada, from January 2024 to January 2025, the investment in foreign bonds totaled USD 101.9 billion. During the same period, the investment in foreign shares amounted to USD 8.8 billion. Canadian investors acquired USD 8.4 billion of non-U.S. foreign bonds and USD 6.7 billion of U.S. bonds. At the same time, investors reduced their holdings of U.S. government money market instruments by USD 1.4 billion.
   

• For the U.S. Residential Segment, the AC residential switchgear market is expected to continue exceeding 7.7% CAGR growth by 2034 due to rising electricity consumption, adoption of smart home technologies, and the retrofitting of older grid systems. This growth is also fueled by improved energy efficiency and upgraded safety technologies.
   
• The U.S. government is dedicating resources to augment the power grid infrastructure and its dependability through smart grid programs, with the U.S. Department of Energy (DOE) allocating more than USD 2.2 billion in funding for projects that will provide approximately 13 GW of additional transmission capacity. These projects will greatly increase the requirement for residential switchgear in North America.
   
• Canada's investment in smart grid initiatives and skill development through the Smart Renewables and Electrification Pathways Program (SREPs) is aimed a modernizing the electricity grid, expanding the use of renewable energy, and decreasing emissions within the clean energy framework Canada’s energy infrastructure and grid resilience. SREPs received close to CADUSD 2.9 billion in the 2023 budget to support clean electricity infrastructure.
   
• The DC segment has a considerable share owing to the growth of battery storage technologies and greater penetration of distributed energy resources (DERs). Increasing preference for home automation systems, which make use of low-voltage DC circuits, further supports demand. Also, subsidized programs for the adoption of renewable energy technologies are increasing the use of DC in homes.
   
• The DC segment holds a significant share due to advancements in battery storage technologies and increasing penetration of distributed energy resources (DERs). The rising popularity of home automation systems, which often rely on low-voltage DC circuits, further boosts demand. Additionally, government incentives promoting renewable energy adoption contribute to the expansion of DC applications in residential settings.
   
• Compared to AC, DC-powered electricity distribution is becoming more popular because of its higher efficiency and lower transmission losses. Residential DC microgrids are being developed which permit the mounting of solar panels, batteries, and DC appliances that consume power with little loss of usable energy during conversion. These developments are increasing the demand for residential switchgear, which in turn grows the market.
   

• In terms of the U.S residential switchgear market, its value in 2022, 2023, and 2024 were estimated at USD 2.1 billion, USD 2.3 billion, and USD 2.6 billion respectively. This advancement is attributed to the adoption of smart home devices, increased power consumption, and modernization of the grid. Additional adoption of distributed energy resources (DERs) like solar PV systems and energy storage technologies has also increased the necessary requirements for sophisticated switchgear for power management.
   
• The need for power distribution and protection in the automation systems has grown alongside the demand for smart home devices which has contributed to market growth. Smart homes incorporate security systems, lighting controls, smart devices, and other technologies that depend on stable electrical frameworks, which in turn increases the demand for sophisticated residential switchgear solutions. Additionally, IoT technology predispositions the home environment and requires advanced switchgear with features of seamless command and communication.
   
• Furthermore, active government policies motivating the adoption of clean energy along with an increase in home remodeling and new residential construction activities bolstered the growth of the market. In 2024, Canada added a solar capacity of 314 megawatts in 2024 which increased the total installed photovoltaic capacity to over 5 gigawatts. Further, Recurrent Energy, a subsidiary of Canadian Solar, continued to dominate the development of solar projects including battery energy storage systems in Canada.
   
• There is a significant increase in the deployment of solar panels and wind turbines in Mexico with the goal of increasing renewable energy capacity while trying to cut back on fossil fuel dependency. In 2024, wind power facilities in Mexico are expected to concentrate on expanding the renewable energy capacity, with the expectation that renewables will provide a considerable portion of the electricity in Mexico, along with infrastructure development to transmission grid congestion and further growth planning.
   
• In 2024, Mexico saw a significant focus on solar energy, with the country aiming to increase clean energy generation to 35% of its electricity consumption by 2024, though it lagged behind this target, relying heavily on fossil fuels. Moreover, in 2023, Mexico relied on fossil fuels for 77% of its electricity generation, with gas remaining the single largest source at 58%.
   

North America Residential Switchgear Market Share

The top 4 companies including General Electric, Siemens, ABB, and Schneider Electric hold more than 40% market around the world. The major companies consistently work on new products and solutions which makes them a crucial part of the industry globally. These companies place a low focus on investment, especially on research and development. Besides, these companies apply different methods of market development in order to obtain considerable shares in the industry.
 

North America Residential Switchgear Market Companies

• In July 2024, Hitachi Energy announced plans to invest an additional USD 155 million USD to expand its manufacturing capacity in North America. This includes the construction of a new distribution transformer factory in Reynosa, Mexico, and expansions to its transformer factory in South Boston, Virginia, and its high-voltage switchgear and breakers factory in Mount Pleasant, Pennsylvania.
   
• ABB had the net sales of USD 24.26 billion in 2024 (Q3). In 2024, ABB unveiled the 500 mm panel version of the UniGear ZS1, its latest in air-insulated- switchgear technology, at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2023.
   
• In December 2024, Hitachi Energy is investing approximately USD 47 million to expand its North America High Voltage Products factory in Brno, Czech Republic, marking a significant step in its global strategy to support the clean energy transition. Set to be completed by the end of 2025, the expansion will increase the factory’s production capacity by over 40% and create up to 200 new jobs.
   

Major players operating in the North America residential switchgear market are:

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

Low Voltage Residential Switchgear Industry News

• In February 2024, Mitsubishi Electric Power Products, announced that it would invest USD 86 million in advanced switchgear production and power electronics in the U.S., the company announced earlier this fall. The company is building a 160,000-square-foot factory in the Pittsburgh region.
   
• In July 2024, CG Power announced a USD 78 billion investment to complete its capacity expansion within 18 months, focusing on scaling up production for transformers, motors, and switchgears. The company also ventured into semiconductor manufacturing and initiated development of an Outsourced Assembly and Testing (OSAT) facility in Gujarat, reinforcing its strategic growth in high-demand sectors.
   
• In February 2023, the U.S. Department of Energy announced USD 48 million in funding to support a new program focused on developing power grid technologies that improve control and protection of the domestic power grid. This initiative aligns with broader goals to accelerate renewable energy deployment and achieve 100% clean electricity by 2035.
   

The North America residential switchgear market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” and “’000 Units” from 2021 to 2034, 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:

• U.S.
• Canada
• Mexico