Press release
Low Voltage Switchgear Market Size to Reach $43.83B in 2028 with 7.1% CAGR, Driven by Rising Electricity Demand
Low Voltage Switchgear Market Report
Low Voltage Switchgear Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $43.83 billion In 2028 At A CAGR Of 7.1%:
The low voltage switchgear market size has grown strongly in recent years. It will grow from $30.92 billion in 2023 to $33.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to rise in power consumption, a rise in government initiatives, a rise in technological advancements, economic growth in emerging markets and an increase in investments.
The low voltage switchgear market size is expected to see strong growth in the next few years. It will grow to $43.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to growing demand for electricity, growing use of electricity in transportation, rising investments in renewable energy and a rise in demand for electricity from manufacturing sectors. Major trends in the forecast period include focus on offering premium low voltage switchgear, focus on deploying new technologies, focus on producing energy-efficient products and focus on strategic partnerships and collaborations.
Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=2770&type=smp
Low Voltage Switchgear Market Major Segments
The low voltage switchgear market covered in this report is segmented -
1) By Product: Fixed Mounting, Plug-In, Withdrawable Unit
3) By Voltage Rating: Less Than 250V, 250-750, 751-1000V
2) By End-User: Residential, Commercia, Industrial
Key Driver - Surging Demand For Electricity Generation Fuels Low Voltage Switchgear Market Growth
The demand for electricity generation is projected to drive the low voltage switchgear market. Development of industrialization and urbanization requires continuous electricity supply, and the reliability of the electrical supply depends heavily on the performance of the switchgear. Production of energy is sustainable growth with demand in rural and urban areas with ongoing improvements to the integration of protection of supply, which will drive industry growth. For instance, in January 2022, according to electricity market report published by International Energy Agency, a France-based intergovernmental organization, the global electricity demand grew by 6% in 2021. Additionally, the demand for electricity in China reached to 744 TWh in 2021 from 296 TWh in 2020. Therefore, the demand for electricity generation is projected to propel the demand for low voltage switchgear market.
Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=2770&type=smp
Prominent Trend - Iot-Enabled Low-Voltage Switchgear For Enhanced Monitoring And Control
Major companies operating in the low-voltage switchgear market are focused on introducing IoT-enabled low-voltage switchgear to gain a competitive edge in the market. IoT-enabled low-voltage switchgear is a type of switchgear that is equipped with Internet of Things (IoT) technology, allowing for remote monitoring and control of the electrical systems in a building or facility. For instance, in February 2023, Elmeasure, an India-based smart and sustainable energy management company, launched its entire range of LV (low voltage) switchgear, IOT contractors, solenoid-based ATeS (automatic transfer switches) with a built-in controller, and home automation. These solutions were created to assist organizations in lowering their energy expenses, increasing operational effectiveness, and boosting profitability. Mission-critical facilities are shielded from power uncertainties by Automatic Transfer Switches (ATeS) by Elmeasure, an advanced form of power unreliability protection.
Low Voltage Switchgear Market Players
Major companies operating in the low voltage switchgear market report are ABB, Siemens, Hitachi, Mitsubishi Electric, Schneider Electric SE, Eaton, Fuji Electric Co Ltd, Hyundai Electric, Chint Group, Hyosung, Ls Electric Co. Ltd, Noja Power, Meidensha, Toshiba, Nissin Electric, Shihlin Electric, Chem, Fortune Electric, Anchor Electricals Pvt Ltd, Havells India Ltd, Cg Power And Industrial Solutions Limited (Crompton Greaves), Orecco Electric, Tamco, Lan Electrical Limited, Tenaga Switchgear, Lucy Electric, Bmc Manufacturing, Twyver Switchgear, Alstom, Switchgear Company Nv (Sgc), Electroshield Samara, S&C Electric Company, Powell Industries, G&W Electric, Abunayyan Holding Company, Tiepco, Wahah Electric Supply Company Of Saudi Arabia Ltd, Kfb Holding Group, Afcon , Actom, Matelec Group, Egyptian German Electrical Manufacturing Co
View The Full Report Here - https://www.thebusinessresearchcompany.com/report/low-voltage-switchgear-global-market-report
Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the low voltage switchgear market in 2023. Western Europe was the second-largest region in the low voltage switchgear market share. The regions covered in the low voltage switchgear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Low Voltage Switchgear Market Report Structure
3. Low Voltage Switchgear Market Trends And Strategies
4. Low Voltage Switchgear Market - Macro Economic Scenario
5. Low Voltage Switchgear Market Size And Growth
…..
27. Low Voltage Switchgear Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Low Voltage Switchgear Market Size to Reach $43.83B in 2028 with 7.1% CAGR, Driven by Rising Electricity Demand here
News-ID: 3519889 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Switchgear
Switchgear and Switchboard Apparatus Global Market: Expanding Partnerships and D …
Projected Market Size and Growth of the Global Switchgear and Switchboard Apparatus Market by 2025?
• The switchgear and switchboard apparatus market size grew from $179.97 billion in 2024 to $190.44 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.8%.
• The market is expected to surge to a value of $228.43 billion in 2029, growing at a CAGR of 4.7% during this five-year period.
• The market's growth has…
Switchgear: Working, Characters, and Classification
Electrical switchgear is used in both high and low-voltage power transformers and is connected to electrical supply networks. Its goal is to de-energize the system so that maintenance and repairs may be made to fix the problems.
Every time a power system flaw, such as a short circuit, a large number of current flows via electric setup, destroying the structure and disrupting supply to the consumers. The best possible electrical protection…
Global Medium Switchgear Market | Global Medium Switchgear Industry | Medium Swi …
Medium voltage switchgear market comprises of sales of medium voltage switchgear & related services that manufacture the medium voltage switchgear which are electrical switchgear rated between 2KV and 36KV. Medium voltage switchgear is a combination of electrical switches, fuses/circuit breakers used to function, secure and separate electrical equipment. It is used for providing protection to different electric motor control systems that installed in different end user segments.
According to study,…
Switchgear Market in India 2011
Market Research Report Store offers a latest published report on Switchgear Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. This report focuses on the key global Switchgear players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Switchgear with respect to individual growth trends, future…
Medium Voltage Switchgear Market
Attributable to the nearness of worldwide and provincial merchants, this market is divided. They sellers in the market are contending based particle the cost, item offering and dispatch of new item in the market. The expansive firms in the market are having significant offer because of variables, for example, item plan, quality, turnaround time, administrations offered, highlights of the item, and upkeep of client connections. Major organizations in the worldwide…
Global Low Voltage Switchgear Market 2017 : BARTEC, LUCY Switchgear, FEAG, Kohl, …
Low Voltage Switchgear
A market study based on the " Low Voltage Switchgear Market " across the globe, recently added to the repository of Market Research, is titled ‘Global Low Voltage Switchgear Market 2017’. The research report analyses the historical as well as present performance of the worldwide Low Voltage Switchgear industry, and makes predictions on the future status of Low Voltage Switchgear market on the basis of this analysis.
Get Free…
