Global Paralleling Switchgear Market Size & Outlook
The global paralleling switchgear market size was estimated at USD 1,709.1 million in 2023 and is projected to reach USD 3,064.3 million by 2030, growing at a CAGR of 8.7% from 2024 to 2030.
Revenue, 2023 (US$M)
$1,709.1
Forecast, 2030 (US$M)
$3,064.3
CAGR, 2024 - 2030
8.7%
Report Coverage
Worldwide
Global paralleling switchgear market, 2018-2030 (US$M)
Global paralleling switchgear market highlights
- The global paralleling switchgear market generated a revenue of USD 1,709.1 million in 2023 and is expected to reach USD 3,064.3 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 8.7% by 2030.
- In terms of segment, prime power accounted for a revenue of USD 1,709.1 million in 2023.
- Prime Power is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
Global data book summary
| Market revenue in 2023 | USD 1,709.1 million |
| Market revenue in 2030 | USD 3,064.3 million |
| Growth rate | 8.7% (CAGR from 2024 to 2030) |
| Largest segment | Prime power |
| Fastest growing segment | Prime Power |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Prime Power |
Other key industry trends
- In terms of revenue, the North America accounted for 30.1% of the global paralleling switchgear market in 2023.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Paralleling Switchgear Market Scope
Paralleling switchgear market segmentation & scope
Type
Open Transition System
Closed Transition System
Voltage
Low Voltage
Medium Voltage
End Use
Commercial & Industrial
Utilities and Power Generator
Others
Countries
U.S.
Canada
Mexico
UK
Germany
France
Italy
Spain
Norway
Denmark
Sweden
China
India
Japan
South Korea
Thailand
Australia
Brazil
Argentina
Saudi Arabia
South Africa
UAE
Kuwait
Paralleling Switchgear Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Electro-Mechanical Industries | View profile | 11-50 | Plymouth, Minnesota, United States, North America | https://e-m-i.com |
| Industrial Electric Mfg. (IEM) | View profile | 251-500 | Fremont, California, United States, North America | http://iemfg.com |
| Nixon Peabody | View profile | 501-1000 | Boston, Massachusetts, United States, North America | http://www.nixonpeabody.com/ |
| Pioneer Telephone | View profile | 501-1000 | Kingfisher, Oklahoma, United States, North America | https://www.gopioneer.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 |
| 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 |
Global paralleling switchgear market size, by regions, 2018-2030 (US$M)
Related industry reports
Related statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
