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U.S. Switchgear Market Size

Report ID: GMI5809
Published Date: Nov 2024
Report Format: PDF

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U.S. Switchgear Market Size

U.S. switchgear market size was valued at USD 17.8 billion in 2024 and is projected to witness a CAGR of 5.9% between 2025 and 2034. Investments in upgrading aging infrastructure are propelling demand for advanced switchgear. The focus is on improving grid reliability, reducing outages, and enhancing safety. Modern switchgear solutions with advanced fault detection, remote monitoring, and automation capabilities are increasingly deployed to strengthen grid resilience.

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As the U.S. continues to expand renewable energy sources, including solar and wind, the need for switchgear that can manage variable power loads and support grid stability is rising. Switchgear systems that can seamlessly integrate with renewable energy sources are in high demand, especially for utility-scale projects.

U.S. Switchgear Market Report Attributes
Report Attribute	Details
Base Year:	2024
U.S. Switchgear Market Size in 2024:	USD 17.8 Billion
Forecast Period:	2025 - 2034
Forecast Period 2025 - 2034 CAGR:	5.9%
2034 Value Projection:	USD 31.8 Billion
Historical Data for:	2021 - 2024
No. of Pages:	80
Tables, Charts & Figures:	20
Segments covered:	Voltage, Insulation, Current, and Application
Growth Drivers:	Expansion of smart grid networks Refurbishment & retrofit of the existing grid infrastructure
Pitfalls & Challenges:	High dependency on imports

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The adoption of smart grids is boosting the demand for digital switchgear, which enables real-time monitoring, data analytics, and predictive maintenance. Digital switchgear systems with IoT and automation capabilities support efficient energy management, enhancing grid intelligence and reducing operational costs for utilities. With the increase in industrial and utility applications, there is a rising need for medium and high-voltage switchgear to handle larger power loads. High-voltage switchgear is essential for transmission and distribution networks, while medium-voltage systems are favored for industrial and commercial applications.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size for switchgear in U.S. reached USD 17.8 billion in 2024 and is set to grow at a 5.9% CAGR from 2025 to 2034, driven by investments in upgrading aging infrastructure.

The low-voltage segment is anticipated to exceed USD 16.2 billion by 2034, led by the adoption of energy-efficient solutions and smart technologies like IoT-enabled devices and remote monitoring systems.

The utility segment is poised to expand at a CAGR exceeding 5.3% through 2034, fueled by investments in advanced utility-scale switchgear to enhance grid resilience and reliability.

The key players in the industry include ABB, CG Power and Industrial Solutions, Chint Group, E+I Engineering, Eaton, Fuji Electric, General Electric, Hitachi, Hyosung Heavy Industries, Hyundai Electric and Energy Systems, and Mitsubishi Electric.