According to the research report titled ‘North America Switchgear Market Size By Voltage (Low, Medium, High), By Insulation (Air, Gas, Oil, Vacuum), By Installation (Indoor, Outdoor), By Current (AC, DC), By Application (Residential & Commercial, Industrial, Utilities), Industry Analysis Report, Regional Outlook, Covid-19 Impact Analysis, Application Development Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, North America switchgear market is anticipated to garner sizeable returns by the year 2027.

North America switchgear market is primarily driven by increasing deployment of switchgear in commercial facilities and favourable government laws pertaining to better switchgear safety across the region.

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For the unversed, electrical switchgear protects, controls, and separates electrical equipment through a centralised collection of circuit breakers, switches, and fuses. These circuit protection devices are placed on metal structures, and a switchgear line-up or assembly is made up of one or more of these structures.

Based on insulation, the oil segment is anticipated to expand at a CAGR of 5% over the analysis timeframe, due to increasing preference for oil-insulated switchgear by manufacturers.

In terms of application spectrum, industrial segment of North America switchgear market is expected to grow at a CAGR of over 5% over the review period, due to manufacturers' increasing focus towards extending their presence in the region, as well as growing demand for switchgear in industrial facilities.

On the basis of installation, the indoor segment was worth USD 3 million in 2020 and is expected to grow significantly over the forecast duration.

WEG S.A., Hubbell Incorporated, Meidensha Corporation, Hitachi Ltd., Fuji Electric Co., Ltd., Toshiba Corporation, Powell Industries Inc., Hyundai Electric & Energy Systems Co., Ltd., Eaton Corporation, Hyosung Heavy Industries Corporation, Schneider Electric SE, Mitsubishi Electric Corporation, General Electric Company, Siemens AG, and ABB Limited are the key players in North America switchgear industry.