North America Paralleling Switchgear Market Size & Outlook
The paralleling switchgear market in North America is expected to reach a projected revenue of US$ 935.3 million by 2030. A compound annual growth rate of 8.9% is expected of North America paralleling switchgear market from 2024 to 2030.
Revenue, 2023 (US$M)
$514.4
Forecast, 2030 (US$M)
$935.3
CAGR, 2024 - 2030
8.9%
Report Coverage
North America
North America paralleling switchgear market highlights
- The North America paralleling switchgear market generated a revenue of USD 514.4 million in 2023.
- The market is expected to grow at a CAGR of 8.9% from 2024 to 2030.
- In terms of segment, prime power was the largest revenue generating application in 2023.
- Prime Power is the most lucrative application segment registering the fastest growth during the forecast period.
North America data book summary
| Market revenue in 2023 | USD 514.4 million |
| Market revenue in 2030 | USD 935.3 million |
| Growth rate | 8.9% (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 |
| Key market players worldwide | Caterpillar Inc, Regal Rexnord Corp, Schneider Electric SE, Cummins Inc, Pioneer Telephone, General Electric, Kohler, Nixon Peabody, Industrial Electric Mfg. (IEM), Electro-Mechanical Industries |
Other key industry trends
- In terms of revenue, North America region accounted for 30.1% of the global paralleling switchgear market in 2023.
- Globally, Asia Pacific 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 943.6 million by 2030.
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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 |
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