North America MV Switchgear Market Introduction

MV switchgear stands for medium voltage switchgear, which is a type of electrical distribution equipment used to control and protect electrical power systems with a voltage range of 1kV to 52kV. MV switchgear is typically used in industrial and commercial applications, such as power generation plants, data centers, and manufacturing facilities, as well as in utility substations and distribution networks.The North America MV switchgear market refers to the market for MV switchgear in the North American region, which includes countries such as the United States, Canada, and Mexico. The market is driven by factors such as the growing demand for electricity in the region, the increasing adoption of renewable energy sources, and the need for reliable and efficient power distribution systems.The North America MV switchgear market includes various types of switchgear such as air-insulated switchgear (AIS), gas-insulated switchgear (GIS), and hybrid switchgear. The market also includes various applications such as power transformers, capacitors, motor control centers, and others. The market is highly competitive, with several major players operating in the region, including ABB, Eaton Corporation, Schneider Electric, Siemens AG, and General Electric (GE).

North America MV Switchgear Market Size

The North America MV switchgear market was valued at USD 5.5 billion in 2020 and is projected to grow at a CAGR of 6.3% during the forecast period of 2021-2026.The growth of the North America MV switchgear market can be attributed to various factors such as the increasing demand for electricity, the rising adoption of renewable energy sources, and the need for reliable and efficient power distribution systems. Additionally, government initiatives and investments in infrastructure development are expected to further drive market growth.The United States is expected to hold the largest share of the North America MV switchgear market during the forecast period, due to factors such as the growing demand for electricity and the increasing adoption of renewable energy sources. However, the market is also expected to experience significant growth in Canada and Mexico, driven by factors such as government initiatives to promote renewable energy and increasing investment in infrastructure development.

Overall, the North America MV switchgear market is expected to continue to grow in the coming years, driven by a range of factors including increasing demand for electricity, rising adoption of renewable energy sources, and government initiatives to promote infrastructure development.

North America MV Switchgear Market Share

The North America MV switchgear market is highly competitive, with several major players operating in the region. Some of the key players in the North America MV switchgear market include:

ABB Ltd.

Eaton Corporation Plc

Schneider Electric SE

Siemens AG

General Electric Company

Powell Industries, Inc.

Mitsubishi Electric Corporation

Hyosung Corporation

Fuji Electric Co., Ltd.

Toshiba Corporation

These companies are engaged in various strategies such as product launches, partnerships, and mergers and acquisitions to strengthen their market position and expand their product portfolio. For example, in August 2021, Siemens AG launched a new gas-insulated switchgear (GIS) for high-voltage power transmission applications. Similarly, in January 2021, Eaton Corporation announced a partnership with San Francisco-based energy storage company, ZincFive, to develop and deploy energy storage solutions for mission-critical facilities.ABB Ltd. is one of the leading players in the North America MV switchgear market, with a strong presence in the region. The company offers a range of MV switchgear solutions, including air-insulated switchgear (AIS) and gas-insulated switchgear (GIS). Eaton Corporation Plc is also a major player in the market, offering a range of MV switchgear solutions for industrial, commercial, and utility applications.

Overall, the North America MV switchgear market is expected to remain highly competitive, with key players competing on the basis of product innovation, pricing, and distribution strategies.

North America MV Switchgear Market Trends

There are several trends driving the North America MV switchgear market. These include:

Increasing demand for electricity: The demand for electricity in North America is growing, driven by factors such as population growth, urbanization, and increasing industrialization. This is leading to a greater need for MV switchgear solutions to help improve the efficiency and reliability of power distribution systems.Rising adoption of renewable energy sources: There is a growing focus on renewable energy sources in North America, with many countries and companies setting ambitious targets for renewable energy adoption. This is leading to a greater need for MV switchgear solutions that can integrate with renewable energy sources and help to ensure efficient and reliable power distribution.Advancements in technology: The MV switchgear market is seeing a range of technological advancements, including the development of smart switchgear solutions that can help to optimize power distribution systems. These advancements are helping to improve the efficiency and reliability of power distribution systems, while also reducing maintenance requirements and costs.Increasing investment in infrastructure: Governments and utilities in North America are investing in infrastructure development, including the upgrade and modernization of power distribution systems. This is driving demand for MV switchgear solutions that can help to improve the efficiency and reliability of power distribution systems.Focus on safety and environmental regulations: There is a growing focus on safety and environmental regulations in North America, with many companies and utilities looking for solutions that can help them to meet regulatory requirements. This is driving demand for MV switchgear solutions that are designed to meet safety and environmental standards, while also delivering reliable and efficient performance.Overall, these trends are expected to continue to drive growth in the North America MV switchgear market in the coming years. The market is expected to see increased demand for solutions that can integrate with renewable energy sources, improve efficiency and reliability, and meet safety and environmental regulations.

North America MV Switchgear Market Driving Factors

There are several driving factors for the North America MV switchgear market. These include:

Growing demand for electricity: The demand for electricity in North America is increasing, driven by factors such as population growth, urbanization, and industrialization. This is leading to a greater need for reliable and efficient power distribution systems, which is driving demand for MV switchgear solutions.Aging infrastructure: Much of the power distribution infrastructure in North America is aging and in need of upgrades and modernization. This is driving demand for MV switchgear solutions that can help to improve the reliability and efficiency of power distribution systems, while also reducing maintenance requirements and costs.Rising adoption of renewable energy sources: There is a growing focus on renewable energy sources in North America, with many countries and companies setting ambitious targets for renewable energy adoption. This is driving demand for MV switchgear solutions that can integrate with renewable energy sources and help to ensure efficient and reliable power distribution.Increasing investment in infrastructure: Governments and utilities in North America are investing in infrastructure development, including the upgrade and modernization of power distribution systems. This is driving demand for MV switchgear solutions that can help to improve the efficiency and reliability of power distribution systems.Focus on safety and environmental regulations: There is a growing focus on safety and environmental regulations in North America, with many companies and utilities looking for solutions that can help them to meet regulatory requirements. This is driving demand for MV switchgear solutions that are designed to meet safety and environmental standards, while also delivering reliable and efficient performance.Overall, these driving factors are expected to continue to fuel growth in the North America MV switchgear market in the coming years. The market is expected to see increased demand for solutions that can integrate with renewable energy sources, improve efficiency and reliability, and meet safety and environmental regulations.

North America MV Switchgear Market Regional Analysis

The North America MV switchgear market can be analyzed on a regional basis as follows:

United States: The United States is the largest market for MV switchgear in North America. The country has a well-established power distribution infrastructure that is in need of upgrades and modernization. The adoption of renewable energy sources is also driving demand for MV switchgear solutions that can integrate with these sources. The increasing focus on safety and environmental regulations is also expected to drive demand for high-quality, reliable MV switchgear solutions.Canada: Canada is another significant market for MV switchgear in North America. The country has a relatively small population but a vast geographic area, which presents unique challenges for power distribution. The adoption of renewable energy sources is also driving demand for MV switchgear solutions that can integrate with these sources. The focus on safety and environmental regulations is also expected to drive demand for reliable and efficient MV switchgear solutions.Mexico: Mexico is a growing market for MV switchgear in North America. The country has a rapidly growing population and an increasing demand for electricity, which is driving demand for reliable and efficient power distribution solutions. The adoption of renewable energy sources is also driving demand for MV switchgear solutions that can integrate with these sources. The focus on safety and environmental regulations is also expected to drive demand for high-quality MV switchgear solutions.Overall, the North America MV switchgear market is expected to grow in the coming years, driven by factors such as the increasing adoption of renewable energy sources, the need for upgrades and modernization of power distribution infrastructure, and the focus on safety and environmental regulations. The United States is expected to remain the largest market, with Canada and Mexico also experiencing significant growth.

North America MV Switchgear Market Forecasts 2030 

The North America MV switchgear market is expected to grow at a steady pace and reach a market size of around USD 7.5 billion by 2030.The increasing demand for reliable and efficient power distribution solutions, the need for upgrades and modernization of power infrastructure, and the growing adoption of renewable energy sources are some of the key factors driving the growth of the MV switchgear market in North America.In terms of product type, air-insulated switchgear is expected to continue to hold the largest share of the market, followed by gas-insulated switchgear and other types of MV switchgear.The United States is expected to remain the largest market for MV switchgear in North America, with Canada and Mexico also experiencing significant growth. The industrial and commercial sectors are expected to remain the largest end-users of MV switchgear, while the residential sector is expected to grow at a faster pace in the coming years.

Overall, the North America MV switchgear market is expected to experience steady growth in the coming years, driven by the increasing demand for reliable and efficient power distribution solutions, the need for upgrades and modernization of power infrastructure, and the growing adoption of renewable energy sources.

North America MV Switchgear Market Key Industry Players

Some of the key players operating in the North America MV switchgear market include:

ABB Ltd.

Eaton Corporation PLC

General Electric Company

Mitsubishi Electric Corporation

Schneider Electric SE

Siemens AG

Powell Industries, Inc.

Toshiba Corporation

Larsen & Toubro Limited

Hyundai Electric & Energy Systems Co., Ltd.

These companies are engaged in the manufacturing and supply of various types of MV switchgear, including air-insulated switchgear, gas-insulated switchgear, and other types of MV switchgear. They are also focusing on expanding their product portfolio, improving the efficiency of their products, and offering customized solutions to meet the specific needs of their customers.

In addition, these companies are investing in research and development activities to develop new and innovative products and technologies to stay competitive in the market. They are also adopting various growth strategies such as mergers and acquisitions, partnerships, and collaborations to expand their market presence and strengthen their position in the North America MV switchgear market.