North America Air-Insulated Switchgear Market Size (2024 - 2029)

The North American air-insulated switchgear market is anticipated to experience growth driven by increased investments in transmission and distribution infrastructure. Despite the challenges posed by the adoption of gas-insulated switchgear, the market has rebounded to pre-pandemic levels and is poised for expansion. The integration of renewable energy with national grids presents significant opportunities for market participants. The United States is identified as the fastest-growing region within this market during the forecast period.

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Market Size of North America Air-Insulated Switchgear Industry

North America Air-Insulated Switchgear Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 7.00 %
Market Concentration Medium

Major Players

North America Air-Insulated Switchgear Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Air-Insulated Switchgear Market Analysis

The North American air-insulated switchgear market is projected to register a CAGR of over 7% during the forecast period.

  • The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels. Over the medium term, factors such as increasing investments in transmission and distribution infrastructure are expected to drive the demand for air-insulated switchgear during the forecast period.
  • On the other hand, the adoption of gas-insulated switchgear may restrain the market. Nevertheless, plans to integrate renewable energy with the national grids are expected to create a significant amount of opportunity for the switchgear market players in the near future. The United States is the fastest-growing country in the North America air-insulated Switchgear market during the forecast period.

North America Air-Insulated Switchgear Industry Segmentation

Air-insulated switchgear is extensively used in power distribution facilities and small sub-stations in energy storage including residential neighborhoods, skyscrapers, sizable public buildings, and industrial complexes.

The North America air-insulated switchgear market is segmented by voltage, end-user, and geography. By voltage, the market is segmented into low voltage, medium voltage, and high voltage. By end-user, the market is segmented into power utilities, industrial sector, commercial, and residential. The report also covers the market size and forecasts for the air-insulated switchgear market across major countries in the region, such as Canada, the United States, and Mexico. 

For each segment, the market sizing and forecasts have been done based on revenue (USD billion).

Voltage
Low Voltage
Medium Voltage
High Voltage
End-User
Commercial & Residential
Power Utilities
Industrial Sector
Geography
Canada
Mexico
United states
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North America Air-Insulated Switchgear Market Size Summary

The North American air-insulated switchgear market is poised for significant growth, driven by increasing investments in transmission and distribution infrastructure. The market has rebounded to pre-pandemic levels and is expected to expand steadily over the forecast period. The United States is leading this growth, with substantial developments in its electricity generation mix, including a shift towards renewable energy sources. This transition necessitates upgrades in transmission and distribution systems, creating a robust demand for air-insulated switchgear. The medium voltage segment, particularly the 3 KV to 36 KV systems, is anticipated to see considerable demand due to advancements in power transmission technologies like smart grids and smart meters.

In Canada, efforts to replace outdated infrastructure and enhance electrification in rural areas are expected to boost the market further. Government initiatives, such as the Smart Renewables and Electrification Pathways Program, are set to play a crucial role in modernizing the grid and supporting renewable energy projects. Despite potential competition from gas-insulated switchgear, the integration of renewable energy with national grids presents significant opportunities for market players. The North American switchgear market remains moderately fragmented, with key players like Schneider Electric SE, Siemens AG, and Eaton Corporation actively participating in the market landscape.

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North America Air-Insulated Switchgear Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, 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

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Voltage

      1. 2.1.1 Low Voltage

      2. 2.1.2 Medium Voltage

      3. 2.1.3 High Voltage

    2. 2.2 End-User

      1. 2.2.1 Commercial & Residential

      2. 2.2.2 Power Utilities

      3. 2.2.3 Industrial Sector

    3. 2.3 Geography

      1. 2.3.1 Canada

      2. 2.3.2 Mexico

      3. 2.3.3 United states

North America Air-Insulated Switchgear Market Size FAQs

The North America Air-Insulated Switchgear Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)

Schneider Electric SE, Eaton corporation, Siemens AG, General Electric Company and Hitachi Energy Ltd. are the major companies operating in the North America Air-Insulated Switchgear Market.

North America Air-Insulated Switchgear Market Report Snapshots

North America Air-Insulated Switchgear Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)