The low voltage disconnect switch market is projected to reach a market size of USD 3.51 billion at a CAGR of 4.5% from 2016 to 2021. The market growth is attributed to increased spending on transmission & distribution networks, growing distributed automation, and rising concern for efficient and reliable power supply.
The worldwide growth and rapid industrialization in developed and developing countries and the market's concerns of safety products has created a demand low voltage disconnect switches.
The market for low voltage disconnect switches are categorized into Fused and non-fused switches
The market is segmented as panel mounting , DIN mounting and other mounting which includes base mounting and floor mounting
The demand for electricity is growing day by day in developing economies in European, North American region and Asia-Pacific region . There have been tremendous growth in Power generation, power transmission and distribution which has given rise for demand of product which are related to power sector, there has been a rise in demand for products like switch-gear, disconnect switches and circuit breakers. The market for low voltage disconnect switches is to grow at a high rate. While other products are in the transmission and distribution industry are in growth stage
Increase in demand of photovoltaic systems is expected to drive the low voltage disconnect switch market
Photovoltaic systems have evolved into a mature, sustainable and adaptive technology. New installations and the demand for PV systems have increased the need for disconnect switches and over current protective devices capable of interrupting currents. These systems as with all electrical power systems must have appropriate over current and overvoltage protection. These application is one of the growing segments of the disconnect switch market and hence the increasing focus towards power generation through PV systems will serve as a key driver for the low voltage disconnect switch market.
Asia-Pacific to lead the global low voltage disconnect switch market in terms of growth rate
Asia-Pacific held the largest market share in the disconnect or switch market, and is projected to grow at the
highest CAGR. This growth can be attributed to the high urbanization and industrialization in countries, such as China, India, and Japan. China and India are two of the fastest-growing economies around the globe, and are responsible for the growth of the disconnect switch market in the region. The transmission and distribution industry has been expanding in the Asia-Pacific, resulting in huge potential for the low voltage disconnects switch market in the region.
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ABB Ltd. (Switzerland), Eaton Corporation (Ireland), Schneider Electric SA (France), Siemens AG (Germany), Socomec (France), Salzer Electronics Ltd (India), Katko (Finland), Ensto (Finland), Lovato Electric (Italy), Benedict GMBH (Austria), Kraus & Naimer (Austria) and GE (U.S.).
Reasons to buy the report:
- The report identifies and addresses key markets for low voltage disconnect switches, which is useful for suppliers and OEMs to review production and distribution plans.
- The report includes analysis for key countries by application, type, voltage, and mount. It analyses historical trends and also forecast the market for 2021, assisting in strategic decision making.
- It also presents competition by analyzing recent market developments such as key contracts & agreements, expansions, and new product launches from the key global market players. It helps to understand the competition strategies and plan respective initiatives.
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