Market Size of United States Switchgear Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
