Low-voltage switchgear is a three-phase power distribution system designed to supply electric power reliably, safely, efficiently. Electrical power provided has voltages up to 1,000 volts and current up to 6,000 amps. Low-voltage switchgear is often found on the secondary side of a power distribution transformer. Low-voltage switchgear is generally used to feed low-voltage switchboards, low-voltage motor control centers, and another branch. Low voltage switchgear plays a fundamental role in supplying electricity for critical power and critical process applications such as mining and metals, pulp and paper, heavy industry, manufacturing, petrochemical, utility, water treatment as well as datacenter and healthcare. According to a study published by Insure Insights, the global low voltage switchgear market is anticipated to grow at a CAGR of 10.1% during the forecast period.

Top Driver: Rising Awareness for Sustainable Energy and Broad Applications

The prominent factors stimulating the growth of the low voltage switchgear market are the favorable government regulation and initiatives towards the integration of sustainable energy resources and the inclination towards renewable energy sources for electricity generation.  Other factors such as feed-in tariffs, tax rebates, net metering, and subsidies are some of the critical reforms that will foster the product demand. Further, the market is expected to grow due to its wide application in real estate across many emerging countries, rapid industrial growth, and large scale integration of distributed power generation technologies.

Circuit Breaker Segment to Drive the Market Widely in the Future

On the basis of protection, the market is segmented into circuit breaker and fuse. The circuit breaker segment is expected to hold the largest market share owing to its ability to control frequent current outages and faults. Also, the wide use of circuit breakers in various industrial installation may further anticipate the segment towards growth. On the basis of product, the market is segmented as Fixed mounting, Plug-in, Withdraw able. On the basis of application, the market is segmented into Substations, Distribution, Power Factor Correction, Sub-Distribution, Motor Control.

Surge In Adoption Of Sustainable Energy Technologies to Benefit North America Market

Asia Pacific market accounted for the largest share in the low voltage switchgear market. Furthermore, China low voltage switchgear market size is about to show lucrative growth towards the clean energy deployments. This owes to the renewable adoption pertaining to its ambitious clean energy targets. Consequently, continuous adoption of sustainable energy technologies along with large scale energy demand from manufacturing plants will boost the product deployment in the region.

Players to Focus on Low Voltage Switchgear Market

The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. General Electric, Eaton Corporation, Mitsubishi Electric Corporation, ABB Limited, Schneider Electric, Siemens AG, Hyosung Corporation, Hyundai Electric & Energy Systems, Powell Industries, Hubbell Power Systems, Hitachi Limited,Fuji Electric, L&T Electrical and Automation, Skema S.p.A., Norelco Oy, START Electrical Switchgear Assembly LLC., Al Hassan Engineering Co. S.A.O.G., Lucy Electric UK Ltd, among others could be at the forefront of the competition in the global market.

ABB: ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business. The transaction was announced, and is expected to be accretive to operational EPS in the first year. The $2.6 billion transaction offers substantial value creation potential within ABB, including growth opportunities to be leveraged from coupling ABB’s digital offering, ABB Ability, with the extensive GEIS installed base. ABB expects to realize approximately $200 million of annual cost synergies in year five, which will be key in bringing GEIS to peer performance.

Eaton: Power management company Eaton announced it has completed the acquisition of Innovative Switchgear Solutions, Inc. (ISG), a specialty manufacturer of medium-voltage electrical equipment serving the North American utility, commercial and industrial markets. Terms of the transaction were not disclosed. This acquisition complements our portfolio of medium-voltage switchgear solutions.

Scope of the Report

By Protection

• Circuit Breaker
• Fuse

By Product

• Fixed mounting
• Plug-in
• Withdraw able

By Application

• Substations
• Distribution
• Power Factor Correction
• Sub-Distribution
• Motor Control

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.