Market Size of North America Low Voltage Switchgear Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 12.29 Billion |
| Market Size (2029) | USD 16.12 Billion |
| CAGR (2024 - 2029) | 5.58 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Low Voltage Switchgear Market Analysis
The North America Low Voltage Switchgear Market size is estimated at USD 12.29 billion in 2024, and is expected to reach USD 16.12 billion by 2029, growing at a CAGR of 5.58% during the forecast period (2024-2029).
- Over the medium term, factors such as the growing installation of renewable energy and rising construction activities are the significant growth driving factors for this market. The rising number of distribution systems across North America significantly increases the demand for the low-voltage switchgear market.
- On the other hand, high installation costs, as well as delays in the project execution, restrains the growth of the market.
- Nevertheless, the low-voltage switchgear demand across primary and secondary distribution networks will likely create lucrative opportunities for market growth.
