What's driving the Low Voltage Switchgear Market trends? Key Players are GE, Schneider, Siemens, E+I Engineering, Hyosung, ABB, Eaton, Mitsubishi, Hyundai Electric, Powell, Hitachi, Hubbell, Fuji Electric, L&T, Skema, Norelco, START, AL Hassan Engineering

Primarily amplified by the enormous overhaul of aging electric networks across the globe, low voltage switchgear market has, of late, been witnessing a slew of innovative tech progressions.

The burgeoning demand for switchgears can be attributed to the soaring rural energy requirement, the need to revamp the existing distribution networks, and the trend of increased spending toward infrastructural development. As the requirement for highly unique and efficient switchgears has been on the rise, companies are striving hard to launch a range of effective products to remain relevant in this competitive business sphere. Another notable reason to have contributed substantially to expand low voltage switchgear market is the growing inclination of leading industry giants to invest heavily to scale up their existing switchgear manufacturing facilities. As a consequence, this is anticipated to chart out a lucrative growth path for low voltage switchgear market.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• GE
• Schneider
• Siemens
• E+I Engineering
• Hyosung
• ABB
• Eaton
• Mitsubishi
• Hyundai Electric
• Powell
• Hitachi
• Hubbell
• Fuji Electric
• L&T
• Skema
• Norelco
• START
• AL Hassan Engineering and Lucy Electric.

A noteworthy instance reinforcing the authenticity of the aforementioned statements is Siemen India’s latest switchgear production facility. Siemens India, a major subsidiary of German power generation and electric equipment conglomerate Siemens AG, has recently unveiled its first fully digitalized low voltage switchgear production plant in India. Reportedly, the factory is said to have been equipped with the capacity of manufacturing over 180 variants of low voltage switchgears, at the rate of one product per nine seconds which would translate to about an annual production of five million devices.

Furthermore, the manufacturing procedures deployed at the plant have achieved complete digitalization which has resulted in merging of the real and virtual worlds. This has allegedly assisted in designing tools and equipment, mastering data management, process simulation, and automation. As per experts, the latest facility is bound to have a rather pronounced impact on the product landscape of low voltage switchgear industry.

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Concurrently, the surging demand for uninterrupted and reliable electricity supply across the globe has necessitated the low voltage switchgear market behemoths to master the increasing process complexity, reduce production time utilizing automation technologies, deliver customized products, adapt to ever-changing industry requirements, and focus on consistent product improvement. Apparently, the foremost low voltage switchgear industry giants seem to have geared up to tackle the aforementioned challenges by introducing innovative and advanced products.

Speaking of the competitive hierarchy, leading low voltage switchgear industry players such as GE, Siemens, Eaton, Schneider Electric, ABB, Hitachi, Hyundai, Lucy Electric, and Fuji Electric among others, are increasingly emphasizing on acquiring the production divisions of other major rival companies. Citing a recent instance regarding the same, it has been reported that Schneider Electric along with its partner Temasek Holdings, have reached the last round of negotiations to buy the electric and automation arm of India’s engineering and construction mammoth, Larsen & Toubro for an estimated amount of Rs 17,000 crore.

The move in all probability will strengthen the former’s presence in the low voltage switchgear industry. Apparently, more such moves are anticipated in the estimated time frame which shall favorably influence and accelerate the growth of low voltage switchgear industry. In terms of profitability potential, global low voltage switchgear market has been forecast to exceed USD 80 billion by 2025, according to a comprehensive research report collated by Global Market Insights, Inc.

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LV Switchgear Market, By Protection
• Circuit Breakers
o ACB
o MCCB
o MCB
o MSP
o MPCB
• Fuse
o Fuse-Switch Disconnector
o Switch Disconnector with Fuse
o Others

About Global Market Insights:

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