What are the Growth Drivers of Low Voltage Switchgear Market? GE, Siemens, Schneider, ABB, Mitsubishi, Eaton, Hyundai Electric, Hyosung, E+I Engineering, Norelco START, L&T, Fuji, Skema, Hubbell, Hitachi, Al Hassan Engineering, Powell and Lucy Electric
The U.S. low voltage switchgear market is anticipated to grow at a rate of over 5% by 2025. Initiations by government toward the upgradation and replacement of conventional distribution networks in line with rising demand for cost efficient products will fuel the business outlook. In 2017, the U.S. regulators, announced an investment over USD 600 million in compliance with their Electrification Project hovering across the Peninsula Corridor.
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Circuit breaker infused low voltage switchgear market is expected to grow at a rate of over 6% by 2025. Operational safety along with ability to reset, pose immense expansion potential across grids having persistent current faults and outages. In addition, these products on account of their wide application across industrial and utility-based installations will further positively influence the industry landscape.
In 2018, fixed mounted units accounted for over 40% of the global LV switchgear market share. The incorporation of limited adjoining parts coupled with low breakdown rate have inviolably influenced the unit installation across the industry.
By 2025, the 1000 Ampere Low Voltage switchgear market is anticipated to exceed USD 18 billion. The products on account of wide application across process industries, infrastructure and power sectors in line with expanding decentralized energy networks will observe substantial development across the forecast timeline.
Low Voltage Switchgear Market in 2018 surpassed an annual installation of 30?000 thousand units and is predicted to exceed USD 80?000 million by 2025. Increasing rural energy demand coupled with ongoing amendments incorporating with security & safety of supply will foster the industry landscape. Furthermore, the reinstallation of power distribution infrastructure in warfare prone Middle East nations will further stimulate the product demand.
Rising demand for effective fault clearance facility supported by enhanced product efficiencies will fuel the demand for Direct Current (DC) LV switchgear market. The versatile operational support for Alternating Current (AC) circuits interconnection favored by lesser operational losses will further propel the product adoption.
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Indoor LV switchgear market is expected to grow on account of growth in the real estate sector across developing countries. Significant growth in infrastructure investment from private funding institutions backed by regulatory reforms and initiatives have infused a competitive business outlook.
Government and regulatory directives have ever since affected utility backed distribution grid networks regarding the setup of electrical infrastructure. The decentralized micro-grid networks integration across grid isolated areas and favorable government regulations toward rural electrification will stimulate the LV switchgear market share.
Leading LV switchgear market players include GE, Siemens, Schneider, ABB, Mitsubishi, Eaton, Hyundai Electric, Hyosung, E+I Engineering, Norelco START, L&T, Fuji, Skema, Hubbell, Hitachi, Al Hassan Engineering, Powell and Lucy Electric.
Table of content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Low Voltage Switchgear Industry Insights
Chapter 4 Low Voltage Switchgear Market, By Protection
Chapter 5 Low Voltage Switchgear Market, By Product
Chapter 6 Low Voltage Switchgear Market, By Rated Current
Chapter 7 Low Voltage Switchgear Market, By Voltage Rating
Chapter 8 Low Voltage Switchgear Market, By Installation
Chapter 9 Low Voltage Switchgear Market, By Current
Chapter 10 Low Voltage Switchgear Market, By Application
Chapter 11 Low Voltage Switchgear Market, By Region
Chapter 12 Company Profiles
Global Low Voltage Switchgear Market Insights, Forecast to 2025
The Low Voltage Switchgear market was valued at xx Million US$ in 2018 and is projected to reach xx Million US$ by 2025, at a CAGR of xx% during the forecast period. In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Low Voltage Switchgear.
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