The global low voltage disconnect switch market is projected to reach USD 3.51 Billion by 2021 from an estimated value of USD 2.81 Billion in 2016. The growing worldwide transmission and distribution expenditure, growing infrastructural and industrial developmental activities, along with growing safety concerns would propel the market for low voltage disconnect switches. These factors are expected to drive the growth of the low voltage disconnect switch market.
To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the low voltage disconnect switch market such as ABB Ltd. (Switzerland); Eaton Corporation (Ireland); Socomec (France); General Electric (U.S.); Siemens AG (Germany); Schneider Electric SA (France); Salzer Electronics Limited (India) among others. Leading players are adopting strategies to penetrate untapped markets in order to maintain their market share in the industry.
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Scope of the Report:
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This study estimates the global market of low
voltage disconnect switch, in terms of dollar value, till 2021
·
It offers a detailed qualitative and
quantitative analysis of this market
·
It provides a comprehensive review of major
market drivers, restraints, opportunities, challenges, winning imperatives, and
key issues of the market
·
It covers various important aspects of the
market. These include analysis of value chain, Porter’s Five Forces model,
competitive landscape, market dynamics, market estimates in terms of value, and
future trends in the low voltage disconnect switch market.
The demand for electricity is increasing in developed nations in North America and Europe as well as in fast-growing economies in the Asia-Pacific. Generation, transmission, and distribution are increasing at a good pace which has led to the growth in sales of associated components, such as switchgear, circuit breakers and disconnect switches. The market for low voltage disconnect switches is growing at a healthy rate especially in developing countries, where the transmission and distribution industry is in the growth stage.
The Asia-Pacific region dominates the low voltage disconnect switch market and is estimated to grow at a good pace in the next five years. The growth is attributed to the increase in transmission and distribution activities in China, India, Malaysia, Australia, and Thailand. North America and Europe stood at the second and third position, respectively, in terms of market size, in the global low voltage disconnect switch market.
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The data center end user is expected to be the fastest growing market from 2019 to 2024.”
The data center end user is estimated to be the largest and the fastest growing segment during the forecast period, as it is the main component utilized in the cloud storage applications which are an essential part of the digitalized operations of every task including smart grid and smart transport. With most of the existing operations related to almost all the fields to undergo digitalization in the near future for the sake of ease of operations and reliability, data centers will be coming up in large numbers around the globe to support the same, where DC is essentially needed, ultimately increasing the demand for low voltage DC circuit breakers.
The others segment, by application, is expected to be the largest market from 2019 to 2024.
The others segment is expected to hold the largest market share and to be the fastest growing segment during the forecast period because of the introduction of numerous new technologies in this sector such as Artificial Intelligence and Internet of Things that require a network of sensors and automation devices. The segment is also supported by the ever-increasing number of electronic devices needed for the ease of lifestyle, which is expected to drive the market during the forecast period.
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