The Business Research Company’s Low Voltage Switchgear Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, September 14, 2021 /EINPresswire.com/ — According to the new market research report ‘Low Voltage Switchgear Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the low voltage switchgear market is expected to grow from $45.4 billion in 2020 to $49.07 billion in 2021 at a compound annual growth rate (CAGR) of 8.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $66.63 billion in 2025 at a CAGR of 8%. The demand for electricity generation is projected to drive the low voltage switchgear market.
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The low voltage switchgear market consists of sales of low voltage switchgears (=1KV) and related services that manufacture low voltage switchgears which are electrical switchgear rated up to 1KV. Low voltage switchgear is used in low voltage distribution board and it includes low voltage circuit breakers, switches, off load electrical isolators and earth leakage circuit breaker to protect the low voltage system.
Trends In The Global Low Voltage Switchgear Market
Development of digital switchgear has become an emerging trend in the low voltage switchgear market. Digital switchgears use the collected information to analyse performance of current levels, temperature, operating cycles and load levels that helps in improving the performance and reliability of switchgears. Smart switchgears allow grid optimization, improved quality, and reduce both transmission and operating losses. For instance, in 2019, ABB group introduced low-voltage digital switchgear which monitors and enables safe, flexible and smart electrical distribution. Therefore, digital switchgear is expected to gain popularity in the low voltage switchgear market.
Global Low Voltage Switchgear Market Segments:
The global low voltage switchgear market is further segmented based on product, end user, voltage rating, installation and geography.
By Product: Fixed Mounting, Plug-in, Withdrawable Unit
By End User: Residential, Commercial, Industrial
By Voltage Rating: Less than 250V, 250-750V, 751-1000V
By Installation: Indoor, Outdoor
By Geography: The global low voltage switchgear market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Low Voltage Switchgear Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides low voltage switchgear global market overviews, analyzes and forecasts market size and growth for the global low voltage switchgear market, low voltage switchgear global market share, low voltage switchgear global market players, low voltage switchgear global market segments and geographies, low voltage switchgear global market’s leading competitors’ revenues, profiles and market shares. The low voltage switchgear global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Low Voltage Switchgear Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Low Voltage Switchgear Market Organizations Covered: ABB Limited, Al Hassan Engineering Co. S.A.O.G., E + I Engineering Ltd., Eaton Corporation, Fuji Electric, General Electric, Hitachi Limited, Hubbell Power Systems, Hyosung Corporation, Hyundai Electric & Energy Systems, L&T Electrical and Automation, Mitsubishi Electric Corporation, Schneider Electric, Siemens AG, Skema S.p.A., Norelco Oy, Rittal, Lucy Electric UK Ltd., START Electrical Switchgear Assembly LLC., Powell Industries, C&S Electric, CHINT Group, COELME S.p.A, Guangdong Zhujiang Low voltage switchgear, HPL India, Hager, Hangzhou Zhijiang Low voltage switchgear, Havells, Teraski, LSIS, Toshiba Corporation.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Switchgear Global Market Report 2021 – By Product Type (High Voltage, Medium Voltage, Low Voltage), By End-User (Residential, Commercial, Industrial), By Insulation (Gas Insulated Switchgear (GIS), Air Insulated Switchgear (AIS)), By Installation (Indoor, Outdoor), COVID-19 Impact And Recovery
High Voltage Switchgear Global Market Report 2021 – By Insulation Type (Gas Insulated, Oil Insulated, Air Insulated), By Application (Transmission And Distribution Network, Manufacturing & Processing, Infrastructure & Transportation), By Product Standard (IEC Standard, ANSI Standard), By Component (Circuit Breakers, Relays), COVID-19 Impact And Recovery
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