North America Switchgear Market Size & Outlook, 2023-2030
The switchgear market in North America is expected to reach a projected revenue of US$ 57.1 million by 2030. A compound annual growth rate of 6.8% is expected of North America switchgear market from 2024 to 2030.
Revenue, 2023 (US$M)
$36.1
Forecast, 2030 (US$M)
$57.1
CAGR, 2024 - 2030
6.8%
Report Coverage
North America
North America switchgear market, 2018-2030 (US$M)
North America switchgear market highlights
- An overview of the North America switchgear market trends heading towards 2030. The North America market generated a revenue of USD 36.1 million in 2023.
- The overall growth of the North America market from 2023 to 2030. The market is expected to grow at a CAGR of 6.8% from 2024 to 2030.
- A look at the North America market revenues per segment in 2023. In terms of segment, low (upto 1kv) was the largest revenue generating voltage type in 2023.
- The segment witnessing the fastest revenue growth within the market. Low (upto 1Kv) is the most lucrative voltage type segment registering the fastest growth during the forecast period.
North America data book summary
| Market revenue in 2023 | USD 36.1 million |
| Market revenue in 2030 | USD 57.1 million |
| Growth rate | 6.8% (CAGR from 2023 to 2030) |
| Largest segment | Low (upto 1kv) |
| Fastest growing segment | Low (upto 1Kv) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Low (upto 1Kv) |
| Key market players worldwide | ABB Ltd, Alstom SA, Eaton Corp PLC, GE Aerospace, Hitachi Ltd, Larsen & Toubro Ltd DR, Legrand SA, Mitsubishi Electric Corp, Areva, Crompton Greaves Consumer Electricals, NR Electric USA, Powell Industries Inc, Bharat Heavy Electricals |
Other key industry trends
- In terms of revenue, North America region accounted for 35.3% of the global switchgear market in 2023.
- Globally, North America 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 34.0 million by 2030.
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Switchgear Market Scope
Switchgear market segmentation & scope
Insulation
Gas
Air
Others
Installation
Indoor
Outdoor
End Use
T&D Utility
Industrial
Commercial & Residential
Countries
U.S.
Canada
Mexico
Germany
UK
France
Italy
Spain
Denmark
Sweden
Norway
China
Japan
India
South Korea
Australia
Thailand
Brazil
Argentina
South Africa
Saudi Arabia
UAE
Kuwait
Switchgear Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Related industry reports
Related regional statistics
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