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North America Residential Switchgear Market Trends

  • Report ID: GMI11447
  • Published Date: Sep 2024
  • Report Format: PDF

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.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

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

The indoor residential switchgear segment held a decent growth in 2023 and is expected to overtake USD 5.8 billion by 2032, due to its ability to provide secure and efficient distribution of electricity in confined spaces.

The U.S. residential switchgear market held a decent growth in 2023 and is anticipated to surpass 4.9 billion by 2032, driven by various factors including increased urbanization, rising demand for electricity.

ABB, Chint Group, E + I Engineering, Eaton Corporation, Fuji Electric, Hitachi among others.

North America Residential Switchgear Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 12
  • Tables & Figures: 9
  • Countries covered: 3
  • Pages: 110
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