Overview of the Market for Switchgear And Switchboard Apparatus in the USA
In value terms, switchgear and switchboard apparatus production rose modestly to $ in . The total output value increased at an average annual rate of +% from 2013 to ; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of % y-o-y. Over the period under review, production reached the maximum level at $ in 2018; however, from 2019 to , production failed to regain the momentum.
The size of the switchgear and switchboard apparatus market in the U.S. shrank dramatically to $ in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption faced a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of % against the previous year. Switchgear and switchboard apparatus consumption peaked at $ in 2018; however, from 2019 to , consumption remained at a lower figure.