North America Paralleling Switchgear Market Size & Outlook
The paralleling switchgear market in North America is expected to reach a projected revenue of US$ 935.3 million by 2030. A compound annual growth rate of 8.9% is expected of North America paralleling switchgear market from 2024 to 2030.
Revenue, 2023 (US$M)
$514.4
Forecast, 2030 (US$M)
$935.3
CAGR, 2024 - 2030
8.9%
Report Coverage
North America
North America paralleling switchgear market, 2018-2030 (US$M)
North America paralleling switchgear market highlights
- The North America paralleling switchgear market generated a revenue of USD 514.4 million in 2023.
- The market is expected to grow at a CAGR of 8.9% from 2024 to 2030.
- In terms of segment, prime power was the largest revenue generating application in 2023.
- Prime Power is the most lucrative application segment registering the fastest growth during the forecast period.
North America data book summary
| Market revenue in 2023 | USD 514.4 million |
| Market revenue in 2030 | USD 935.3 million |
| Growth rate | 8.9% (CAGR from 2023 to 2030) |
| Largest segment | Prime power |
| Fastest growing segment | Prime Power |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Prime Power |
Other key industry trends
- In terms of revenue, North America region accounted for 30.1% of the global paralleling switchgear market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 943.6 million by 2030.
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Paralleling Switchgear Market Scope
Paralleling switchgear market segmentation & scope
Type
Open Transition System
Closed Transition System
Voltage
Low Voltage
Medium Voltage
End Use
Commercial & Industrial
Utilities and Power Generator
Others
Countries
U.S.
Canada
Mexico
UK
Germany
France
Italy
Spain
Norway
Denmark
Sweden
China
India
Japan
South Korea
Thailand
Australia
Brazil
Argentina
Saudi Arabia
South Africa
UAE
Kuwait
Paralleling Switchgear Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
North America paralleling switchgear market
Related regional statistics
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