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North America Switchgear Market Size
North America Switchgear Market was valued at USD 26.9 billion in 2024 and is estimated to grow at a CAGR of 6.3% from 2025 to 2034, due to rising demand for reliable power distribution, grid modernization, and renewable energy integration. Utilities and industries are investing in advanced switchgear to enhance grid stability, reduce downtime, and ensure safe power transmission. The adoption of smart grid technologies is fueling the demand for digital switchgear that enables real-time monitoring, remote control, and predictive maintenance. Renewable energy projects, particularly in wind and solar, require switchgear capable of managing fluctuating power inputs, further boosting market demand.
Additionally, the electrification of transportation, including the expansion of electric vehicle (EV) charging infrastructure, is creating new opportunities for medium and low voltage switchgear. Government incentives promoting energy efficiency, coupled with aging infrastructure upgrades, are accelerating the adoption of modern switchgear solutions. Increasing regulatory focus on safety and environmental sustainability is influencing the development of advanced switchgear with enhanced safety features such as arc flash protection, eco-friendly insulation materials, and reduced greenhouse gas emissions. Manufacturers are investing in innovations that align with stringent safety standards and environmental regulations. Overall, the market is poised for sustained growth due to technological advancements and increased investments in power infrastructure.
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.