Disconnect Switch Market Share

North American Market Forecast

Disconnect switch market in North America industry is set to dominate majority revenue share of 45% by 2037 impelled by the growing adoption of renewable energy sources. In the US, renewable energy is the energy source that is expanding the fastest and has enabled drastically lower emissions of greenhouse gases into the atmosphere. According to estimates, by 2024, renewable energy is expected to increase by over 1 100 GW overall, which is equal to the US's entire electrical capacity.

In addition, there's no denying that the US needs new transmission infrastructure therefore, spending on essential enabling infrastructure is necessary to hasten the transition to a sustainable energy sector. For instance, the Department of Energy (DOE) announced on October 2023, that over USD 3 billion would be allocated to 58 projects in more than 40 states to enhance the resilience and stability of the nation's electric grid. This may lead to an increase in demand for disconnect switches in the region.

European Market Statistics

The Europe disconnect switch market is estimated to be the second largest, revenue share during the forecast period, led by rapid urbanization. Europe is one of the most urbanized regions in the world, and the vast majority of its citizens already reside there. For instance, by 2050, Europe's urbanization rate is projected to reach over 83%.