Market Size of United States Switchgear Industry
| Study Period | 2018-2028 |
| Base Year For Estimation | 2022 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2018 - 2021 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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United States Switchgear Market Analysis
The United States switchgear market is expected to grow at a CAGR of more than 6% 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, 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 be the major drivers for the transmission & distribution network growth, which, in turn, is expected to drive the switchgear market, during the forecast period.
On the other hand, stringent environmental and safety regulations related to the high-voltage switchgear market are restraining factors.
Nevertheless, United States government-owned companies are expected to invest highly to meet the growing demand. Thus, expected to create significant opportunity for the United States switchgear market during the forecsat period.
