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U.S. Switchgear Market Trends

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

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U.S. Switchgear Market Trends

Environmental regulations and corporate sustainability goals are driving the development of eco-friendly switchgear with reduced greenhouse gas emissions. Solutions that replace traditional SF6 gas with alternative, environmentally safe materials are gaining traction, aligning with efforts to lower the environmental impact of electrical equipment. The industrial and commercial sectors, including manufacturing, data centers, and commercial facilities, are increasingly investing in switchgear to support expansion and ensure reliable power distribution.

High demand from these sectors is expected to drive further market growth, with a focus on equipment reliability, safety, and operational efficiency. As switchgear systems become more digital and interconnected, protecting them from cyber threats is a growing priority. Manufacturers are incorporating cybersecurity features into digital switchgear solutions to safeguard critical infrastructure from potential cyberattacks.

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.