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United States Switchgear Market Size (2024 - 2029)

The United States switchgear market is projected to experience growth over the forecast period, driven by increasing electricity generation and consumption, as well as network expansions to support infrastructure development and renewable energy integration. Despite challenges posed by stringent environmental and safety regulations, significant investment by government-owned entities to meet rising electricity demand is anticipated to create substantial opportunities for the market.

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Market Size of United States Switchgear Industry

United States Switchgear Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 20.32 Billion
Market Size (2029) USD 27.11 Billion
CAGR (2024 - 2029) 5.94 %
Market Concentration Medium

Major Players

United States Switchgear Market Major Players

*Disclaimer: Major Players sorted in no particular order

United States Switchgear Market Analysis

The United States Switchgear Market size is estimated at USD 20.32 billion in 2024, and is expected to reach USD 27.11 billion by 2029, growing at a CAGR of 5.94% during the forecast period (2024-2029).

  • Over the medium term, increasing electricity generation and consumption, along with network expansions to accommodate the infrastructure development projects and integration of renewables into the grid, are expected to drive the switchgear market during the forecast period.
  • On the other hand, stringent environmental and safety regulations related to the switchgear market are restraining factors.
  • Nevertheless, United States government-owned companies are focused to invest highly to meet the growing electricity demand. Thus, expected to create significant opportunity for the United States switchgear market during the forecsat period.

United States Switchgear Industry Segmentation

Switchgear is a device that controls, regulates, and switches on or off the electrical circuit. The power supply system is linked directly to the switchgear system. It is located on the high and low-voltage sides of the power transformer. It is used to switch off the equipment's power so that it may be examined and maintained and clear the issue.

The United States switchgear market is segmented on the basis of type, insulation, installation, and end-user industry. By type, the market is segmented as Low-Voltage, Medium-Voltage, and High-Voltage. By insulation, the market is segmented into Gas Insulated Switchgear (GIS), Air Insulated Switchgear (AIS), and other types. By installation, the market is segmented as Indoor and Outdoor, and by end-user industry, the market is segmented as Commercial, Residential, and Industrial. For each segment, the market size and forecast have been done on the basis of revenue (USD).

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United States Switchgear Market Size Summary

The United States switchgear market is poised for significant growth over the forecast period, driven by increasing electricity generation and consumption, as well as the expansion of networks to support infrastructure development and renewable energy integration. Despite challenges posed by stringent environmental and safety regulations, substantial investments by government-owned companies are expected to create significant opportunities in the market. The demand for gas-insulated high voltage switchgear (GIS) is anticipated to rise due to its advantages such as reduced field construction work, flexible designs, and minimal maintenance. Initiatives like the U.S. Department of Energy's grant programs to modernize the power grid further bolster the market's growth prospects.

The market is characterized by a semi-fragmented landscape with key players including ABB Ltd, Siemens AG, General Electric Company, Schneider Electric SE, and Mitsubishi Electric Corporation. The increasing urbanization and industrialization, coupled with the shift towards renewable energy sources, are driving the demand for switchgear. Investments in electricity transmission and distribution networks, along with smart grid technology, are expected to enhance the market's expansion. Recent developments, such as Eaton's plans to increase capacity for power distribution equipment and Schneider Electric's launch of new switchgear offerings, underscore the dynamic nature of the market and its potential for continued growth.

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United States Switchgear Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Increasing Electricity Generation and Consumption, along with Network Expansions

        2. 1.5.1.2 Growing Focus on Infrastructure and Renewable Energy Sources Drives the Market Growth

      2. 1.5.2 Restraints

        1. 1.5.2.1 Stringent Environmental and Safety Regulations

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Insulation

      1. 2.1.1 Air-insulated

      2. 2.1.2 Gas-insulated

      3. 2.1.3 Other Types

    2. 2.2 Installation

      1. 2.2.1 Indoor

      2. 2.2.2 Outdoor

    3. 2.3 End User

      1. 2.3.1 Commercial

      2. 2.3.2 Residential

      3. 2.3.3 Industrial

    4. 2.4 Type

      1. 2.4.1 Low-Voltage

      2. 2.4.2 Medium-Voltage

      3. 2.4.3 High-Voltage

United States Switchgear Market Size FAQs

The United States Switchgear Market size is expected to reach USD 20.32 billion in 2024 and grow at a CAGR of 5.94% to reach USD 27.11 billion by 2029.

In 2024, the United States Switchgear Market size is expected to reach USD 20.32 billion.

United States Switchgear Market Report Snapshots

United States Switchgear Market Size & Share Analysis - Growth Trends & Forecast (2024 - 2029)