North America Generator Paralleling Switchgear Market Size & Outlook
The generator paralleling switchgear market in North America is expected to reach a projected revenue of US$ 942.2 million by 2030. A compound annual growth rate of 9% is expected of North America generator paralleling switchgear market from 2024 to 2030.
Revenue, 2023 (US$M)
$516.8
Forecast, 2030 (US$M)
$942.2
CAGR, 2024 - 2030
9%
Report Coverage
North America
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North America generator paralleling switchgear market highlights
- The North America generator paralleling switchgear market generated a revenue of USD 516.8 million in 2023.
- The market is expected to grow at a CAGR of 9% from 2024 to 2030.
- In terms of segment, open transition system was the largest revenue generating type in 2023.
- Open Transition System is the most lucrative type segment registering the fastest growth during the forecast period.
North America data book summary
| Market revenue in 2023 | USD 516.8 million |
| Market revenue in 2030 | USD 942.2 million |
| Growth rate | 9% (CAGR from 2023 to 2030) |
| Largest segment | Open transition system |
| Fastest growing segment | Open Transition System |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Open Transition System |
| Key market players worldwide | General Electric, Caterpillar Inc, Cummins Inc, Regal Rexnord Corp, Kohler, Schneider Electric SE, ABB Ltd, Industrial Electric Mfg. (IEM) |
Other key industry trends
- In terms of revenue, North America region accounted for 30.1% of the global generator paralleling switchgear market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 756.5 million by 2030.
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Generator Paralleling Switchgear Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Industrial Electric Mfg. (IEM) | View profile | 251-500 | Fremont, California, United States, North America | http://iemfg.com |
| General Electric | View profile | 10001+ | Boston, Massachusetts, United States, North America | http://www.ge.com |
| Regal Rexnord Corp | View profile | 32100 | 111 West Michigan Street, Milwaukee, WI, United States, 53203 | https://www.regalrexnord.com |
| Kohler | View profile | 10001+ | Kohler, Wisconsin, United States, North America | http://www.kohler.com |
| Cummins Inc | View profile | 75500 | 500 Jackson Street, Box 3005, Columbus, IN, United States, 47202-3005 | https://www.cummins.com |
| ABB Ltd | View profile | 108700 | Affolternstrasse 44, Zurich, Switzerland, 8050 | https://www.abb.com |
| Caterpillar Inc | View profile | 121173 | 5205 N. O'Connor Boulevard, Suite 100, Irving, TX, United States, 75039 | https://www.caterpillar.com |
| Schneider Electric SE | View profile | 162339 | 35, rue Joseph Monier - CS 30323, Rueil Malmaison, France, F-92506 | https://www.se.com |
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