According to the Graphical Research new growth forecast report titled “North America Low Voltage Switchgear Market Size By Application (Substation, Distribution, Power Factor Correction, Sub Distribution, Motor Control), By Rated Current (≤ 1000 Ampere, 1001 to 5000 Ampere, > 5000 Ampere), By Voltage Rating (≤ 250 Volts, 251 to 750 Volts, > 750 Volts), By Protection (Circuit Breakers {ACB, MCCB, MCB, MSP, MPCB}, Fuse {Fuse-Switch Disconnector, Switch Disconnector with Fuse, Others}), By Product (Fixed Mounting, Plug-in, Withdrawable Unit), By Installation (Indoor, Outdoor), By Current (AC, DC), Industry Analysis Report, Country Outlook (U.S., Canada. Mexico), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026”, to Outpace by 2026.

North America Low Voltage Switchgear Market Share is anticipated to grow on account of growing rural energy consumption coupled with increasing expenditure toward infrastructural expansion. Development of the smart grid network along with refurbishment of the existing grid structure is anticipated to positively enhance the industry outlook. Escalating electricity demand along with the introduction of positive regulations & norms for the development of sustainable energy technologies is set to influence the business growth.

Ongoing government initiatives toward installation & upgradation of the existing grid networks along with rising need for cost competitive products will foster the U.S. industry growth. The government, in 2017, allocated a fund worth more than USD 640 million for the electrification project across the peninsular corridor. Expansion of the microgrid infrastructure owing to growing off-grid energy demand coupled with the addition of networks across remote areas is set to augment the industry landscape.

Wide applicability across industrial & utility based installations coupled with the ability to reset in line with operational safety in networks having current faults and outages will augment the circuit breaker integrated low voltage switchgear market share. Quick reaction time, low unit cost and lower maintenance are the key factors which will encourage the product adoption. Furthermore, introduction of subsidies and tax rebates, feed in tariff and net metering are the major reforms influencing the industry outlook.

Continuous investments toward upgradation of distribution & transmission systems coupled with set up of large number of manufacturing units for power generation will boost the demand for DC low voltage switchgear market size. Rising consumer awareness for quick fault clearance facilities combined with availability of operational support for the AC circuits on account of lower operational losses is set to augment the business growth.

Growing industrialization & urbanization along with large scale incorporation of distribution power generation technologies is anticipated to drive the outdoor low voltage switchgear market share. Widespread expansion of utility aided power distribution infrastructure is anticipated to fuel the product penetration. Furthermore, increasing construction activities across the industrial & commercial sector along with increasing adoption of sustainable & clean energy will complement the business landscape.

Eminent players across the industry includes Schneider Electric, ABB Limited, Siemens AG, Mitsubishi Electric Corporation, Hitachi Limited, Fuji Electric, Hubbell Power systems and Hyundai Electric & Energy Systems among others. The industry players are actively participating in inorganic growth ventures with the vendors creating opportunities.