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Low Voltage Disconnect Switch Market

Low Voltage Disconnect Switch Market

Low Voltage Disconnect Switch Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

164

Base Year:

2021

Date

Jan - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1186

Segments Covered
  • By Application Industrial, Commercial
  • By Type Fused, Non-Fused
  • By Mount Panel, DIN Rail, Others (Base Mounted and Floor Mounted)
  • By Voltage 0-240V, 240-480V, 480-690V
  • By Region North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 3.58 Billion
Revenue 2028Revenue 2028: USD 4.94 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 4.7%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Low Voltage Disconnect Switch Market Share

Low Voltage Disconnect Switch Market: By type, voltage, mount, application, and Region

Market Synopsis:

Global Low Voltage Disconnect Switch market is valued at USD 3.58 Billion in 2021 and is projected to attain a value of USD 4.94 Billion by 2028 at a CAGR of 4.7% during the forecast period, 2022–2028.

Demand for Low Voltage Disconnect Switch is increasing, because of its usage in renewable power generation. Most of the nations are adopting more and more green energy which requires storage of this energy on some kind of electricity back-up system. This is basically a safety device that stops the flow of electric current if it detects any fault situation like short circuit, open neutral line etcetera; this helps in protecting both the people and equipment connected to the main supply unit. Low Voltage Disconnect Switches can come with manual reset (fuses) or automatic reset (circuit breakers).

Low Voltage Disconnect Switch Market Size, 2021 To 2028 (USD Billion)

Growing Adoption of Renewable Energy to Drive Growth of Low Voltage Disconnect Switch Market

The growth rate is increasing exponentially in the world of renewable energy generation. Due to this rapid development, more and more attention is diverted towards power conservation. In order to get electricity from renewable sources like solar or wind, a power back-up system is necessary. These systems usually store the green energy on batteries which require Low Voltage Disconnect Switch for their safety and uninterrupted operation. The need for such switches with manual or automatic reset is increasing in developing countries due to increased usage of heavy machinery and equipment in various industries, construction work etcetera. All these activities will result in demand for such switches that can be easily operated by humans as well as machines when required. The use of automated ones might prove risky because there will be loss human life if something goes wrong.

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By Application, Industrial Application to Dominate the Low Voltage Disconnect Switch Market

Industries are the largest end-users of the low voltage disconnect switch due to the large electrical loads that they possess. The industrial units are one of the biggest power users in the world today with an average load of more than 20 kilovolts (kV). Industries not only use electricity for their process, but also for their lighting and even cooling needs which further increases the load on them. Hence it becomes necessary that they install Low Voltage Disconnect Switch or medium voltage disconnect switches to control their power usage so as to avoid damages due to overloading. Moreover, rising number of industrial players are opting for more power efficient and reliable electrical products to meet their ever-increasing energy requirements. Overloading of these industries can lead to not only damages in the equipment, but also loss of production and money which is why Low Voltage Disconnect Switch are used in industries.

Industries require an uninterrupted power supply (UPS) so as to ensure that they run smoothly and produce optimum quality goods with least downtime on one hand; on the other no costly repairs or compensations due to any damage caused by sudden power failures resulting from overloading caused by faulty Low Voltage Disconnect Switch appliances.

By Type, Fused Low Voltage Disconnect Switch to Dominate the Market

Fused Low Voltage Disconnect Switch (also called as quick blow disconnector or overload relay) is an over current protective device that acts as a link in the network of power distribution system. It is majorly used to open or close the circuit automatically in case of excess voltage, overload or short-circuit conditions. Therefore, it offers numerous benefits to end user ranging from enhanced system performance, increased appliance life to minimized risk of fire. However, there are several factors that affect the choice of disconnector for an electronic application such as rating current, voltage, power consumption etc. Fused Low Voltage Disconnect Switch is mainly used due to its small size and high breaking capacity capability. It operates at high speed and can be recycled quickly after removing short-circuit condition. Thus, it offers better protection than non-fused devices against tripping on pre-maturely. Additionally, it also reduces carbon footprint by reducing the number of stand-by generators required for providing backup even in case of minor fluctuations in main source.

Asia Pacific to Continue Leading the Global Low Voltage Disconnect Switch Market

The main driver behind this growth trend is the increase in industrial production across China, India, Indonesia, Malaysia and Vietnam. All these countries are known for their rapid industrial development over the past decade or so. This has led to an increased demand for electricity that cannot be met by existing power distribution networks, leading to power outages throughout this region. Over the past decade, there has been a surge of energy consumption across Asia-Pacific due to rapid industrialization and economic development. Low voltage disconnects switch devices have thus become crucially important for protecting both people and property from hazards within high-risk environments such as coal mines, oil rigs, chemical plants or even health care facilities.

Asia-Pacific is divided into two main categories, those that are state owned and those that are private. The power generating capacity between them is relatively even. Both sides could be characterized as oligopolistic, with very few players controlling the market. In such an environment it should come as no surprise to learn that Low Voltage Disconnect Switch (LVD) manufacturers have become huge beneficiaries of this region's burgeoning energy needs.

Key Players:

Some of the key players in the market are ABB Ltd., Eaton Corporation, Siemens AG, and Schneider Electric SA, Salzer Electronics Ltd, Katko, Ensto, Lovato Electric, Benedict GMBH, and Kraus & Naimer.

The Low Voltage Disconnect Switch is Segmented as Follows:

Parameter Details
Segments Covered
  • Application (Industrial, Commercial)
  • Type (Fused, Non-Fused)
  • Mount (Panel, DIN Rail, Others (Base Mounted and Floor Mounted))
  • Voltage (0-240V, 240-480V, 480-690V)
  • Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • ABB Ltd.
  • Eaton Corporation
  • Siemens AG
  • and Schneider Electric SA
  • Salzer Electronics Ltd
  • Katko
  • Ensto
  • Lovato Electric
  • Benedict GMBH
  • and Kraus & Naimer.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Low Voltage Disconnect Switch Market Anticipated to Reach USD 4.94 Billion by 2028
According to our latest report, the Low Voltage Disconnect Switch Market is expected to reach USD 4.94 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.7% between the forecast period from 2022 and till 2028. The growth in transmission, as well as distribution networks coupled wi...
FAQ
Frequently Asked Question
  • The global Low Voltage Disconnect Switch valued at USD 3.58 Billion in 2020 and is expected to reach USD 4.94 Billion in 2028 growing at a CAGR of 4.7%.

  • The prominent players in the market are ABB Ltd., Eaton Corporation, Siemens AG, and Schneider Electric SA, Salzer Electronics Ltd, Katko, Ensto, Lovato Electric, Benedict GMBH, and Kraus & Naimer..

  • The market is project to grow at a CAGR of 4.7% between 2021 and 2028.

  • The driving factors of the Low Voltage Disconnect Switch include

    • Growing Adoption of Renewable Energy is Expected to Drive the {{keyword}} Market Growth

  • Asia Pacific was the leading regional segment of the Low Voltage Disconnect Switch in 2020.