Load Break Switch Market Projected to reach $3.12 Billion by 2023 | Key Players include GE, ABB, Siemens, Schneider, Eaton etc.

According to the new market research report "Load Break Switch Market by Type (Gas-Insulated, Vacuum, Air-Insulated, & Oil-Immersed), Voltage (Below 11 kV, 11–33 kV, 33–60 kV), Installation (Outdoor & Indoor), End-User (Utilities, Industrial, Commercial), and Region - Global Forecast to 2023", published by MarketsandMarkets™, The load break switch market is expected to grow from an estimated market size of USD 2.23 Billion in 2018 to USD 3.12 Billion by 2023, at a CAGR of 6.16% from 2018 to 2023. The market is driven by factors such as refurbishment of aging electrical infrastructure and increasing investment in power distribution sector. The growing renewable-based power generation is expected to boost the demand for load break switches. The emerging markets in Asia Pacific present a great opportunity for the load break switch market due to significant government initiatives to promote renewable energy generation and refurbishment of the aging electrical infrastructure.

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Gas-insulated: The largest segment, by type, during the forecast period.
The gas-insulated segment is expected to hold the majority share of the load break switch market during the forecast period. Growing energy demand, power generation capacity additions, and increasing investments in the distribution sector are the major factors driving the load break switch market in the Asia Pacific region. The Asian market players, such as LSIS and Fuji are involved in the manufacturing of load break switches. These factors have resulted in the highest market share of the gas-insulated segment in the load break switch market.

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Based on installation, the outdoor segment accounted for the largest market size in 2017. Outdoor switches can also be deployed with outdoor distribution transformers rating up to 36 kV. These switches come with flexible installation and mounting configurations, which include pole top, mid-pole horizontal and mid-pole vertical. These factors are expected to drive the outdoor segment of the load break switch market, by installation.

The load break switch market has been analysed on the basis of four regions, namely, Asia Pacific, North America, Europe, the Middle East, and Africa. According to the International Energy Agency (IEA), the Sub-Saharan Africa region’s power sector requires an additional investment of about USD 450 billion by 2040. Hydro, natural gas, and coal are the major sources of electricity generation in the region. However, there is immense potential for renewable energy sources, with solar PV generation as a highly effective resource for the generation of electricity. Moreover, factors such as increasing power generation capacity focus on renewables, and plans to increase electrification rate are expected to drive the African load break switch market. The market in Asia Pacific is expected to dominate the global load break switch market due to increasing investments in the power distribution sector and refurbishment of aging infrastructure. The Chinese market is expected to dominate the Asia Pacific market. The load break switch market is expected to grow at a significant rate in countries such as Japan, India, Australia, and South-East Asian countries.

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Major manufacturers in the load break switch market include ABB (Switzerland), Siemens (Germany), Schneider (France), GE (US), and Eaton (Ireland). The manufacturers such as Socomec (France), Rockwell (US), and Ensto (Finland) either participate in the supply of raw materials/auxiliary components or directly sell load break switch through authorized distribution channels. The distributors also provide replacement and maintenance services for switch components and installation of load break switches.

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