The report, now available on ASDReports, "Low Voltage Disconnect Switch Market by Type (Fused & Non-Fused), by Mount (Panel, DIN Rail, & Others), by Voltage (0-240 V, 240- 480 V, 480-690 V), by Application (Industrial & Commercial) & by Region - Global Trends & Forecasts to 2021", The report defines and segments the low voltage disconnect switch market with analysis and forecast of the global market size of the low voltage disconnect switch market by application, type, mount, and voltage range. The low voltage disconnect switch market is expected to grow from an estimated USD 2.81 Billion in 2016 to 3.51 Billion by 2021 at a projected CAGR of 4.5%. The market is driven by the increase in transmission and distribution spending, growth in industrialization and urbanization, and increasing safety concerns.
The industrial application segment is growing at the highest pace in the low voltage disconnect switch market
The market has been segmented based on application, type, mount, voltage, and region. The application segment is sub-segmented into industrial and commercial segments. The industrial segment is estimated to see high growth during the forecast period. The growth is attributed to the expanding transmission and distribution networks around the globe with a huge percentage being invested on T&D lines. This expanding network provides an opportunity for associated component manufacturers to grow at a good growth rate.
Increasing preference for non-fused type low voltage disconnect switch
The reports segments the global market based on its type; non-fused and fused. Non-fused switches are estimated to lead the market. This growth is majorly driven by the Asia-Pacific which has seen rapid industrialization in two of its fastest growing economies, China and India. The market for fused disconnect switches is declining as they are being replaced by non-fused disconnect switches due to the use of other protection devices along with disconnect switches.
Asia-Pacific is estimated to be the global leader in the low voltage disconnect switch market, by value, for the next five years.
China alone accounted for a major share of the global market in 2015. Massive T&D network expansion and industrialization projects in countries such as India and China are the main reasons for the growth of the low voltage disconnect switch market in the region. China not only holds the majority share, but is also the fastest growing market. India is also adopting smart grid and substation automation projects, which are further increasing the demand for low voltage disconnect switches. Apart from China and India, countries such as South Korea and Japan are also expected to grow at a good pace.
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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Source: ASDReports - Market Research
Date: May 4, 2016