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North America Switchgear Market Share
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
Who are the major players in the North America switchgear market?
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.
How big is the North America switchgear market?
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.
What is the growth rate of the vacuum-insulated switchgear segment?
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.
What is the projected size of the low voltage switchgear segment by 2034?
The low voltage switchgear segment is likely to exceed USD 27.5 billion by 2034, led by increasing urbanization and industrialization in North America.
How much is the U.S. switchgear market expected to be worth by 2034?
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.