North America MV Switchgear Market Size, Future Forecasts and Industry Analysis To 2026
Category: #energy-and-environment  By Ronak Bora  Date: 2021-06-01
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North America MV Switchgear Market Size, Future Forecasts and Industry Analysis To 2026

The North America MV switchgear market size will observe a significant gain by 2026. An unprecedented rise in the electricity demand and upgradation of transmission and distribution lines have propelled North America MV switchgear market trends. Some of the dynamics such as ease of installation, safe & reliable operation and low cost are expected to further the traction for MV switchgears in the U.S., Canada and Mexico. 

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Transmission and distribution systems are likely to witness investments galore as grid stability, security and reliability gain grounds. So much so that technological advancements and expansion of micro grid network and refurbishment of existing power infrastructure have triggered robust growth in the landscape.

Top trends which are likely to reshape the MV switchgear market outlook are elucidated below:

Vacuum insulated switchgear to gain impetus

With anti-leakage configurations, longer lifetime cost, safe & reliable operations and low maintenance cost, demand for vacuum insulated switchgear has zoomed. The trend for smart technologies and increased penetration in power stations and transformer substations are highly likely to stimulate vacuum insulated switchgear growth. A notable uptick in commercialization, along with infrastructural investments is likely to set the trend for vacuum insulation.

Metal enclosed MV switchgears to be highly sought-after

A palpable use of metal enclosed in conventional & digital substations, railway traction and arc furnace has prompted end-users to show inclination for the enclosure. At the time when demand for secure operation has surged, metal enclosed switchgear has come up a viable solution to boost ease of replacement and interlocking between components. Not to mention, power supply faults, short circuits and fire hazards will further set the trend for metal enclosed MV switchgear.

It is worth noting that an increase in the number of on-site generation systems, deployment and expansion of utility-based distribution networks, quick fault response time, less heat generation and anti-leakage configurations have bolstered the MV switchgear market position of metal enclosed switchgears.

End-users to exhibit traction for outdoor medium voltage switchgear

The U.S., Canada and Mexico are witnessing large-scale integration of power generation technologies and portfolio expansion of utility aided distribution network to bolster the footfall of outdoor medium voltage switchgear. Factors such as aesthetic proximity, versatility and secure operation are testimony of the fact that outdoor MV switchgear will be highly sought-after in the next five years. It is pertinent to mention that leading companies will also count on refurbishment and enhancements of small-scale industries in North America.

Residential sector to remain the major recipient

With the demand for uninterrupted power supply and concerns toward voltage fluctuation rising in residential establishments in the U.S. and Canada, private and public organizations have furthered their investments toward expansion and refurbishment of electricity network in the residential sector.

A marked rise in electrification rate has accentuated the demand for safe & reliable, low cost and installation of medium voltage switch gear in the residential setting, the trend is likely to continue through 2026.

Canada and Mexico to provide lucrative growth opportunities

As the integration of smart grid and digitization of data centers and communication base stations surge in Canada, stakeholders have upped their efforts to boost investments in distribution and transmission sector in the region. With rigorous government regulations emphasizing grid stability, security and reliability, digitalization of power utilities will gain an uptick, triggering growth in Canada MV switchgear market.

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Leading companies are touted to infuse funds in Mexico as it witnesses refurbishment and expansion of small-scale industries. Besides, the emerging economy has high hopes on expedition of utility-based distribution networks and on-site generation systems. With the demand for versatility, voltage rating and effectiveness soaring, medium voltage switchgear is slated to be highly sought-after in the region.

Growth of microgrids and large-scale integration of power generation technologies will foster the trend for medium voltage switchgear in North America, with vacuum insulated switchgear and metal enclosed switchgear gaining substantial uptick.

Table of Contents (ToC) of the report:

Chapter 3     North America MV Switchgear Market Insights

3.1         Industry segmentation

3.2         Industry landscape, 2015 – 2026 (USD Million)

3.3         Industry ecosystem analysis

3.3.1       Vendor Matrix

3.4         Regulatory landscape

3.5         Innovation & technology landscape

3.6         Entry barrier

3.7         Industry impact forces

3.7.1       Growth drivers

3.7.2       Industry pitfalls and challenges

3.8         Growth potential analysis

3.9         Porter’s analysis

3.10       Competitive landscape, 2018

3.10.1     Strategy dashboard

3.11       PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1255/north-america-mv-switchgear-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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