Product ID: UCMIR45H2018
North America Switchgear Market Size, Share, Growth Analysis, By Voltage(Low Voltage, Medium Voltage), By Insulation(Air, Gas), By Installation(Indoor, Outdoor), By Current(AC, DC), By Application(Residential & Commercial, Industrial) - Industry Forecast 2024-2031
Report ID:
UCMIR45H2018 |
Region:
Regional |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
North America Switchgear Market Insights
Market Overview:
The North America switchgear market had a worth of more than USD 16 billion in 2020 and is predicted to experience a growth rate of more than 6% from 2021 to 2027. Switchgears, which consist of circuit breakers, electrical disconnect switches, fuses, and relays, are electrical devices that are used to manage, safeguard, supervise, and isolate electrical equipment. The market growth will be driven by the increasing expenditure on infrastructure and the growing need for efficient monitoring and control systems. Furthermore, the demand for the replacement and retrofitting of traditional power infrastructure, as well as the integration of renewable power generation, will drive demand for the industry.
North America Switchgear Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Communications Equipment by segment aggregation, the contribution of the Communications Equipment in Technology Hardware & Equipment and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
North America Switchgear Market Report Snapshots
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