According to the recent research report titled ‘North America MV Switchgear Market Size By Voltage, By Rated Current (< 500 A, 500 to 1500 A, 1500 to 2500 A, 2500 to 3500 A, > 3500 A) By Component, By Installation (Indoor, Outdoor), By Insulation (Air, Gas, Oil, Vacuum, Others), By Enclosure (Metal {Indoor, Outdoor}, Non Metal {Outdoor}), By End-Use (Power Stations, Transformer Substations, Local Electricity Supply, Others), By Application Industry Analysis Report, Country Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, North America MV switchgear market is expected grow substantially over 2019-2025, witnessing an annual deployment of over 1 million units by the end of the forecast period.
 

Rising investment towards refurbishment and retrofitting of existing grid infrastructure, expanding smart grid networks, along with strict energy efficiency reforms are propelling North America MV switchgear market growth.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2361913/
 

Increasing concerns about fire hazard, safety, electrical supply failures, and other operational hazards are encouraging adoption of switchgears. Notably, switchgears have acquired significance in the modern industrial framework, owing to their wide applications for various voltage levels across power stations and transformer substations.
 

With growing emphasis on energy conservation and reliability, power plants have shifted their attention to smart and innovative technology, which will further enhance the business scenario. Moreover, large-scale plans for renewable network integration and the advancement of distributed generation technology are also significantly contributing to North America MV switchgear market development.
 

Speaking of rated current, low current switchgears up to 2,500 A segment has witnessed as significant growth over the past years, creditable to rapid deployment across commercial and residential areas to meet the mounting demand for safe and reliable electricity. Low current switchgears are less expensive to replace than high current switchgears, and they reduce the risk of short circuits, fire, and other health hazards.
 

Major contenders influencing North America MV switchgear market trends are Toshiba Corporation, Powell Industries Inc., Lucy Electric, Hyosung Corporation, Eaton Corporation, Chint Group Corporation, CG Power and Industrial Solutions Ltd., Ormazabal, Schneider Electric SE, and Mitsubishi Electric Corporation among others.