Market Forecast By Voltage (Low Voltage (0-1.1 KV), Medium Voltage (1.1-36 KV), High Voltage (>36 KV)), By Low Voltage (Types (MCB, MCCB, ACB, Others), Applications (Residential, Commercial, Power Utilities, Industrial, Others (Transportation, Oil And Gas))), By Medium Voltage (Insulation Types (AIS, GIS), Applications (Residential, Commercial, Power Utilities, Industrial, Others (Transportation, Oil And Gas))), By High Voltage (Insulation Types (AIS, GIS), Applications (Residential, Commercial, Power Utilities, Industrial, Others (Transportation, Oil And Gas))), By Countries (U.S. and Canada) and Competitive Landscape
Product Code: ETC001597 | Publication Date: Jul 2024 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
The North America Switchgear Market report thoroughly covers the market by Voltage, By Insulation, by Types, by Applications, by Countries. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The North American market for switchgear is propelled by factors such as increasing demand for electricity, aging power infrastructure, and government initiatives toward renewable energy sources. Also, the region has a high adoption rate of advanced technologies and stringent safety regulations, which have further increased the growth of the switchgear market.
According to 6Wresearch, the North America Switchgear Market size is expected to grow at a significant CAGR of 5.6% during the forecast period 2025-2031. This growth is driven by several key factors. One of the primary factors is the increasing demand for reliable and efficient power supply across various industries, including residential, commercial, and industrial sectors. With the rising population and rapid urbanization, there has been a surge in energy consumption in North America. This resulted in a high demand for advanced switchgear solutions that can handle higher voltages and meet the growing electricity demand. Consequently, high-voltage switchgear experienced substantial growth in the region.Moreover, government initiatives and policies are encouraging the adoption of switchgear which is another market growth factor.
Despite the positive potential growth, the market is facing several challenges such as meeting the increasing demand for renewable energy sources and integrating them into the existing power grid. This requires upgradation in the aging switchgear infrastructure, which can be a costly and complex process. Another challenge is ensuring reliability and minimizing downtime in critical industries such as healthcare, data centers, and manufacturing. Any disruptions or failures in switchgear equipment can have severe consequences, making it essential to have reliable and efficient systems in place. Furthermore, with technological advancements, there is a growing demand for smart grid solutions that can handle large amounts of data while also being able to detect and respond to potential issues quickly. This requires switchgear manufacturers to constantly invest in innovation and development to adapt to the evolving market demands.
The North America Switchgear Market is highly competitive, and dominated by several major players including ABB Ltd., Siemens AG, Schneider Electric SE, Mitsubishi Electric Corporation, General Electric Company, Eaton Corporation PLC, Toshiba International Corporation Ltd., Crompton Greaves Ltd. These companies have a significant presence in the North American switchgear market and offer a wide range of products to cater to different customer needs. They also invest heavily in research and development activities to introduce innovative and technologically advanced products, stay ahead of their competitors, and maintain their market presence.
In the past few years, the North America Switchgear Market has been significantly influenced by government regulations. These regulations are aimed at encouraging energy efficiency, reducing carbon emissions, and ensuring the safety of electrical equipment. The Energy Policy Act of 2005 in the United States is one of the major regulations impacting the market by setting standards for energy efficiency and requiring federal agencies to purchase products to meet the standards. This resulted in, manufacturers having to focus on developing more energy-efficient products to remain competitive in the market.
In addition to boosting energy efficiency, government regulations also aspire to reduce carbon emissions from electrical equipment. The Environmental Protection Agency's (EPA) Clean Air Act limits the amount of sulfur hexafluoride (SF6) emissions from switchgear equipment. SF6 is a potent greenhouse gas, and its use in electrical equipment has been linked to climate change. As a result, manufacturers must now use alternative gases or technologies to reduce global warming potential. Moreover, government regulations also prioritize the safety of electrical equipment in North America. These regulations include requirements for proper installation, maintenance, and training to ensure the safe operation of switchgear.
The North America switchgear market is anticipated to witness substantial growth in the coming years due to several key factors, including rising energy demand, increased industrialization, and urbanization, and the necessity for reliable power supply networks. The rising electricity demand, driven by population growth and development, this resulted in significant investments in power generation and transmission infrastructure, thereby increasing the need for switchgear. Additionally, rapid industrialization and urbanization have resulted in more commercial and residential buildings, as well as industrial facilities, all of which require efficient and reliable electrical distribution systems. Furthermore, the growing emphasis on renewable energy sources in North America has prompted the installation of solar and wind power plants, necessitating robust switchgear systems for efficient energy transmission and distribution. Hence, the future of the North American switchgear market appears promising.
According to Dhaval, Research Manager, 6Wresearch, the medium voltage switchgear segment attain the highest market share. This can be attributed to the increasing demand for electricity in commercial and industrial sectors, as well as the development of smart grid infrastructure.
In the North America Switchgear Market, the Medium Voltage Switchgear (MVS) is a type of switchgear that is used to distribute medium voltage power in various industries such as utilities, energy, infrastructure, and manufacturing. It acts as an important component in the electrical system by protecting it from overloads and short circuits.
According to recent analysis, the low voltage switchgear segment holds the largest market share in North America. This can be attributed to the growing demand for electricity in residential and commercial sectors, leading to an increase in construction activities.
According to a market report, the industrial segment holds the highest market share in the North American switchgear market. This can be attributed to the growing demand for electricity and continuous investments in industrial infrastructure.
The United States continues to hold the highest market share in the North American switchgear industry. This can be attributed to factors such as increasing investments in renewable energy sources and modernization of existing power infrastructure.
The report offers a comprehensive study of the subsequent market segments
1. Executive Summary |
2. Introduction |
2.1. Report Description |
2.2 Key Highlights of the Report |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. North America Switchgear Market Overview |
3.1 North America Switchgear Market Revenues (2021-2031F) |
3.2 North America Switchgear Market - Industry Life Cycle, 2021 |
3.3 North America Switchgear Market - Porter’s Five Forces |
3.4 Impact Analysis of Covid-19 on North America Switchgear Market |
4. North America Switchgear Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5. North America Switchgear Market Trends |
6. North America Low Voltage Switchgear Market Overview |
6.1 North America Low Voltage Switchgear and Panels Market Revenues (2021-2031F) |
6.2 North America Low Voltage Switchgear Market Overview, By Types |
6.2.1 North America Low Voltage Switchgear Market Revenue Share, By Types (2020 & 2031F) |
6.2.2 North America Low Voltage Switchgear Market Revenues, By Types (2021-2031F) |
6.3 North America Low Voltage Switchgear Market Overview, By Applications |
6.3.1 North America Low Voltage Switchgear Market Revenue Share, By Applications (2020 & 2031F) |
6.3.2 North America Low Voltage Switchgear Market Revenues, By Applications (2021-2031F) |
7. North America Medium Voltage Switchgear Market Overview |
7.1 North America Medium Voltage Switchgear Market Revenues (2021-2031F) |
7.2 North America Medium Voltage Switchgear Market Overview, By Insulation Types |
7.2.1 North America Medium Voltage Switchgear Market Revenue Share, By Insulation Types (2020 & 2031F) |
7.2.2 North America Medium Voltage Switchgear Market Revenues, By Insulation Types (2021-2031F) |
7.3 North America Medium Voltage Switchgear Market Overview, By Applications |
7.3.1 North America Medium Voltage Switchgear Market Revenue Share, By Applications (2020 & 2031F) |
7.3.2 North America Medium Voltage Switchgear Market Revenues, By Applications (2021-2031F) |
8. North America High Voltage Switchgear Market Overview |
8.1 North America High Voltage Switchgear Market Revenues (2021-2031F) |
8.2 North America High Voltage Switchgear Market Overview, By Insulation Types |
8.2.1 North America High Voltage Switchgear Market Revenue Share, By Insulation (2020 & 2031F) |
8.2.2 North America High Voltage Switchgear Market Revenues, By Insulation (2021-2031F) |
8.3 North America High Voltage Switchgear Market Overview, By Application Types |
8.3.1 North America High Voltage Switchgear Market Revenue Share, By Application Types (2020 & 2031F) |
8.3.2 North America High Voltage Switchgear Market Revenues, By Application Types (2021-2031F) |
9. North America Switchgear Market Overview, By Applications |
9.1 North America Switchgear Market Revenues, By Residential Application (2021-2031F) |
9.2 North America Switchgear Market Revenues, By Commercial Application (2021-2031F) |
9.3 North America Switchgear Market Revenues, By Industrial Application (2021-2031F) |
9.4 North America Switchgear Market Revenues, By Power Utilities Application (2021-2031F) |
9.5 North America Switchgear Market Revenues, By Other Application (2021-2031F) |
10. North America Switchgear Market Overview, By Countries |
10.1 United States Switchgear Market Revenues (2021-2031F) |
10.2 Canada Emirates Switchgear Market Revenues (2021-2031F) |
11. North America Switchgear Market Key Performance Indicators |
12. North America Switchgear Market Opportunity Assessment |
12.1 North America Switchgear Market Opportunity Assessment, By Voltage (20l27F) |
12.2 North America Switchgear Market Opportunity Assessment, By Applications (2031F) |
13. North America Switchgear Market Competitive Landscape |
13.1 North America Switchgear Market Revenue Share, By Voltage, By Company (2024) |
13.2 North America Switchgear Market Competitive Benchmarking, By Technical Parameters |
13.3 North America Switchgear Market Competitive Benchmarking, By Operational Parameters |
14. Company Profiles |
15. Key Strategic Recommendations |
16. Disclaimer |
Market Forecast By Voltage (Low Voltage (0-1.1 KV), Medium Voltage (1.1-36 KV), High Voltage (>36 KV)), By Low Voltage (Types (MCB, MCCB, ACB, Others), Applications (Residential, Commercial, Power Utilities, Industrial, Others (Transportation, Oil And Gas))), By Medium Voltage (Insulation Types (AIS, GIS), Applications (Residential, Commercial, Power Utilities, Industrial, Others (Transportation, Oil And Gas))), By High Voltage (Insulation Types (AIS, GIS), Applications (Residential, Commercial, Power Utilities, Industrial, Others (Transportation, Oil And Gas))), By Countries (U.S. and Canada) and Competitive Landscape
Product Code: ETC001597 | Publication Date: May 2022 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
North America Switchgear Market is projected to grow over the coming years. North America Switchgear Market is a part of our various regional publications globally. 6W tracks Switchgear Market for over 60 countries with individual country-wise market opportunity assessment and publishes with the report titled Global Switchgear Market outlook report annually.
North America Switchgear Market report comprehensively covers the market by Voltage, Types application, Insulation and countries. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities, high growth areas, and market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
North America Switchgear Market has witnessed remarkable growth, driven by the increasing demand for reliable and efficient power distribution systems. This surge can be attributed to several key factors, including the expansion of renewable energy projects, modernization of existing grid infrastructures, and the rising need for advanced electric network systems due to urbanization and industrial developments. Innovations in smart switchgear technology have also played a significant role, enabling enhanced monitoring, control, and automation capabilities which improve overall grid reliability and reduce downtime. Additionally, supportive government policies and investments in smart grid technology have bolstered the market, fostering an environment ripe for continued growth and development.
North America Switchgear Market Synopsis
North America Switchgear Market is anticipated to project moderate growth during the upcoming years on the back of surging infrastructure development. The growing penetration towards effective controlling and monitoring is proliferating the North America Switchgear Industry. Moreover, growing integration of renewable power generation backed by replacement of convectional power is adding to the North America Switchgear Market Growth. Rising investment by the government to develop the power infrastructure is also one of the factors contributing to the development of the market.
According to 6Wresearch, North America Switchgear Market size is projected to register growth during 2022-2028. Rising demand for safe and reliable system of power is driving the North America Switchgear Market Share. Public and private sources are also increasing their investment towards the development of solar energy which is further contributing to the development of the market. However, the market suffered a major setback owing to the outbreak of COVID-19. Various Industries have shut down the power generation owing to the nationwide lockdown.
Government regulations play a critical role in shaping the North America switchgear market. Regulatory frameworks are designed to ensure safety, reliability, and efficiency in the distribution of electrical power. Authorities such as the North American Electric Reliability Corporation (NERC) and the Federal Energy Regulatory Commission (FERC) set stringent standards that manufacturers and utility companies must adhere to. These regulations often focus on the implementation of smart grid technologies, energy efficiency, and the integration of renewable energy sources. Compliance with these standards is essential for market participants to secure certifications and avoid penalties, thus maintaining their market position and ensuring the highest standards of operational integrity.
The North America switchgear market features several leading players who dominate the industry due to their advanced technological capabilities, extensive product portfolios, and robust distribution networks. Major companies such as ABB Ltd., Schneider Electric SE, Siemens AG, and General Electric Company are at the forefront of innovation in the switchgear sector.
Market Analysis by Countries
On the basis of countries, the US is anticipated to dominate the market during the upcoming years owing to replacement of existing electrical equipment.
Market Analysis by Voltage
Based on voltage, the low-voltage segment is expected to register growth during the upcoming years on the back of advancement of technology and investment towards residential and commercial sector.
Key Attractiveness of the Report
Key Highlights of Switchgear Report
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
· By Voltage
o Low Voltage (0-1.1 kV)
o Medium Voltage (1.1-36 kV)
o High Voltage (>36 kV)
· By Low Voltage
o Types
- MCB
- MCCB
- ACB
- Others (Distribution Boards, Contactors, Relays, Starters, Fuses, COS, MPCB)
o Applications
- Residential
- Commercial
- Power Utilities
- Industrial
- Others (Transportation, Oil and Gas)
· By Medium Voltage
o Insulation Types
- AIS
- GIS
o Applications
- Residential
- Commercial
- Power Utilities
- Industrial
- Others (Transportation, Oil and Gas)
· By High Voltage
o Insulation Types
- AIS
- Others (GIS, Oil Insulated)
o Applications
- Residential
- Commercial
- Power Utilities
- Industrial
- Others (Transportation, Oil and Gas)
· By Countries
o United States
o Canada
Market Forecast By Voltage(Low Voltage (< 1kV), Medium Voltage (1 KV - 36 KV), High Voltage (> 36 KV)), By Insulation Type(Medium Voltage(AIS and Others (GIS, Etc.)), High(AIS and Others (GIS, Etc.))), By Types(Low Voltage(MCB, MCCB, ACB, and Others (C&R, COS, Etc.))), By Applications(Residential, Commercial, Industrial, Power Utilities and Others (Transportation, Etc.)), By Countries(U.S. and Canada) and Competitive Landscape
Product Code: ETC001597 | Publication Date: Sep 2021 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Latest 2021 Developments:
North America Switchgear Market is developing due to continuous integration of renewable energy sources with traditional power infrastructure rehabilitation and replacement. Schneider Electric introduced their new medium voltage SF6-free switchgear in 2020, which uses pure air as an insulating medium as well as vacuum interruption. Outdoor installation segment of North America switchgear market is now able to enhance the operability, reduce maintenance, and sustain the aesthetic proximity of the peripherals. Various manufacturers have produced components with automated self-assessment features, making it even easier for the end user to handle and avoid minor operational disruptions.
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Factors such as smart meter implementation and increasing power demand along with regulatory measures for the expansion of electricity network across grid isolated areas would accelerate the growth of the switchgear market in North America. Additionally, rising power demand and growing concern towards the enhancement of conventional power grid, would further propel the switchgear market growth in the region over the coming years
According to 6Wresearch, North America Switchgear Market size is projected to grow at a CAGR of 6.7% during 2019-25. The proclivity towards self-efficiency along with rising concern towards the integration of diverse frequency transmission links would boost the growth of the switchgear market in the region. Apart from this, government initiatives for refurbishment and replacement of existing power infrastructure and increasing demand for cost-efficient technology would also play an indispensable role in resizing the growth of the switchgear market in North America during the forecast period.
The low voltage switchgear would acquire a greater market share as it is widely applicable across the electricity sector and process industries. The supportive power distribution measures along with rising demand for smart control & monitoring units would add on to the growth of the low voltage switchgear market over the years. Additionally, a wide range of applications across small scale process industries and manufacturing and large scale residential deployment of switchgear would provide thrust to the switchgear market in North America.
In North American countries such as the United States of America and Canada, the power utility sector acquired the majority of the market revenue share, owing to a considerable amount of investment in the renewable sector of the respective countries.
The North America switchgear market report thoroughly covers the market by voltage, insulation, applications, and countries. The North America switchgear market outlook report provides an unbiased and detailed analysis of the on-going North America switchgear market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Key Highlights of the Report
North America Switchgear Market Report Covered:
The report provides a detailed analysis of the following market segments: