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Report
U.S. Switchgear Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034
Market Report I 2024-11-08 I 80 Pages I Global Market Insights
U.S. Switchgear Market, valued at USD 17.8 billion in 2024, is expected to grow at a CAGR of 5.9% from 2025 to 2034. A major driver of this growth is the need to modernize aging infrastructure, creating demand for advanced switchgear solutions. The primary focus is on improving grid reliability, minimizing power outages, and enhancing safety. Modern switchgear systems equipped with advanced automation, fault detection, and remote monitoring features are becoming increasingly essential for boosting grid resilience.
As the U.S. accelerates its transition to renewable energy sources, such as solar and wind, the requirement for switchgear that can efficiently manage fluctuating power loads and maintain grid stability is growing. Switchgear capable of seamlessly integrating with renewable energy infrastructure is in high demand, particularly for large-scale utility projects.
The rise of smart grids is also fueling the adoption of digital switchgear, which offers real-time monitoring, data analytics, and predictive maintenance capabilities. With integrated IoT and automation features, these systems enhance grid management, reduce operational costs, and improve energy efficiency. The expanding need for medium and high-voltage switchgear is a direct result of the increasing scale of industrial and utility applications, as these systems are necessary to handle higher power demands. High-voltage switchgear helps in supply and distribution networks, where medium-voltage systems are more common in industrial and commercial settings.
The U.S. switchgear market is segmented by voltage type into low, medium, and high, with the low-voltage segment expected to generate USD 16.2 billion by 2034. The growing emphasis on energy efficiency drives the shift toward low-voltage switchgear with smart capabilities, including IoT integration and remote monitoring. These digital enhancements provide real-time data that enables predictive maintenance, optimized energy use, and better operational performance. Upgrading the national electrical grid to incorporate new infrastructure propels the demand for advanced low-voltage switchgear. These upgrades aim to increase grid stability, reduce maintenance costs, and improve overall system reliability, particularly in urban areas.
The U.S. market is also segmented by application, with utilities expected to see the highest growth, projecting a CAGR of 5.3% through 2034. Aging infrastructure and the need for a more resilient grid drives investments in utility-scale switchgear. These systems ensure efficient power distribution, enhance fault tolerance, and minimize outages, making them crucial for utilities looking to modernize their grid solutions. The growing adoption of renewable energy influences the demand for utility-scale switchgear, as these systems are key to integrating intermittent power sources and maintaining grid stability.
Report Content
Chapter 1 Methodology & Scope
1.1 Market definitions
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid
1.4.2.2 Public
Chapter 2 Industry Insights
2.1 Industry ecosystem analysis
2.2 Regulatory landscape
2.3 Industry impact forces
2.3.1 Growth drivers
2.3.2 Industry pitfalls & challenges
2.4 Growth potential analysis
2.5 Porter's analysis
2.5.1 Bargaining power of suppliers
2.5.2 Bargaining power of buyers
2.5.3 Threat of new entrants
2.5.4 Threat of substitutes
2.6 PESTEL analysis
Chapter 3 Competitive landscape, 2024
3.1 Strategic dashboard
3.2 Innovation & sustainability landscape
Chapter 4 Market Size and Forecast, By Voltage, 2021 - 2034 ('000 Units & USD Million)
4.1 Key trends
4.2 Low
4.3 Medium
4.4 High
Chapter 5 Market Size and Forecast, By Insulation, 2021 - 2034 ('000 Units & USD Million)
5.1 Key trends
5.2 Air
5.3 Gas
5.4 Oil
5.5 Vacuum
5.6 Others
Chapter 6 Market Size and Forecast, By Current, 2021 - 2034 ('000 Units & USD Million)
6.1 Key trends
6.2 AC
6.3 DC
Chapter 7 Market Size and Forecast, By Application, 2021 - 2034 ('000 Units & USD Million)
7.1 Key trends
7.2 Residential
7.3 Commercial & industrial
7.4 Utility
Chapter 8 Company Profiles
8.1 ABB
8.2 CG Power and Industrial Solutions
8.3 Chint Group
8.4 E+I Engineering
8.5 Eaton
8.6 Fuji Electric
8.7 General Electric
8.8 Hitachi
8.9 Hyosung Heavy Industries
8.10 Hyundai Electric and Energy Systems
8.11 Mitsubishi Electric
8.12 Ormazabal
8.13 Powell Industries
8.14 Regal Rexnord
8.15 Schneider Electric
8.16 Siemens
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