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North America Switchgear Market Share

Report ID: GMI3241
Published Date: Dec 2024
Report Format: PDF

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North America Switchgear Market Share

North America Switchgear Company Market Share Analysis, 2024

Prominent companies like ABB and Siemens continue to lead the switchgear market by leveraging their technological expertise, diverse product portfolios, and expansive global footprint. They deliver advanced solutions such as digital substations, which provide real-time monitoring, enhance automation, and enable predictive maintenance—key elements for ensuring grid stability and optimizing operational performance. Through ongoing research and development, these industry pioneers consistently introduce cutting-edge technologies that facilitate renewable energy integration and accelerate the adoption of smart grid solutions.

North America Switchgear Market Companies

Major players operating in the North America 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 switchgear market was reached USD 26.9 billion in 2024 and is estimated to grow at a 6.3% CAGR from 2025 to 2034, driven by rising demand for reliable power distribution, grid modernization, and renewable energy integration.

The low voltage switchgear segment is likely to exceed USD 27.5 billion by 2034, led by increasing urbanization and industrialization in North America.

The vacuum-insulated switchgear segment in the North America market is projected to achieve a CAGR of over 5.8% through 2034, due to its superior arc-quenching capabilities and minimal risk of electrical faults.

The U.S. switchgear market is projected to surpass USD 35.3 billion by 2034, propelled by heavy investments in upgrading aging electrical infrastructure and the accelerating adoption of renewable energy sources.

Major players in the North America switchgear industry 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.