Low Voltage (LV) Switchgear Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

Global Low Voltage Switchgear Market size will expand at an 8.1% CAGR from 2024 to 2032, due to increasing launches and technological advancements. Recently, new low voltage (LV) switchgear systems have been launched, boasting features like enhanced safety mechanisms, intelligent controls, and improved energy efficiency. Furthermore, ongoing advancements in LV switchgear technology cater to the rising demands of modern electrical infrastructure, boosting overall performance and reliability. For example, in December 2023, ABB, a global front-runner in technology and energy efficiency, unveiled its cutting-edge SEN Plus low-voltage switchgear in Riyadh, Saudi Arabia, aiming to deliver superior performance and efficiency.

The LV switchgear market is segregated into protection, product, voltage rating, rated current, current, application, and region.

By protection, the fuse segment is estimated to rise at a significant CAGR from 2024 to 2032 driven by the need for safety and reliability in electrical systems. LV switchgear systems can integrate advanced fuse protection, shielding against overcurrent and short circuits, thereby preventing damage and extending the system's lifespan. These fuse protection mechanisms are further being refined for enhanced performance and quicker response times, bolstering reliability and efficiency across diverse applications.

Low voltage switchgear industry share from the withdrawable unit product segment is expected to expand from 2024 to 2032, owing to its rising adoption for flexibility and maintenance ease. By integrating withdrawable units, LV switchgear systems facilitate safe and efficient replacement or servicing of components, all without disrupting the broader system. These withdrawable units are being upgraded for better safety, user-friendliness, and compatibility with diverse switchgear setups.

Regionally, the Europe LV switchgear industry size is expected to depict robust growth between 2024 and 2032, largely fueled by the burgeoning data center expansion. Within these data centers, LV switchgear systems play a pivotal role in efficient power management and distribution. Concurrently, ongoing developments are equipping LV switchgear with advanced features, including heightened automation, improved energy efficiency, and superior cooling solutions, ensuring robust electrical management throughout Europe.

Product Code: 243

Chapter 1 Methodology and Scope

1.1 Market definitions
1.2 Base estimates and calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid
  - 1.4.2.2 Public

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2019 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Vendor matrix
3.2 Regulatory landscape
3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.2 Industry pitfalls and challenges
3.4 Growth potential analysis
3.5 Porter's analysis
- 3.5.1 Bargaining power of suppliers
- 3.5.2 Bargaining power of buyers
- 3.5.3 Threat of new entrants
- 3.5.4 Threat of substitutes
3.6 PESTEL analysis

Chapter 4 Competitive landscape, 2023

4.1 Strategic dashboard
4.2 Innovation and sustainability landscape

Chapter 5 Market Size and Forecast, By Protection, 2021 - 2032 (USD Million)

5.1 Key trends
5.2 Circuit Breakers
- 5.2.1 ACB
- 5.2.2 MCCB
- 5.2.3 MCB
- 5.2.4 MSP
- 5.2.5 MPCB
5.3 Fuse
- 5.3.1 Fuse-Switch disconnector
- 5.3.2 Switch disconnector with fuse
- 5.3.3 Others

Chapter 6 Market Size and Forecast, By Product, 2021 - 2032 (USD Million)

6.1 Key trends
6.2 Fixed mounting
6.3 Plug-in
6.4 Withdrawable unit

Chapter 7 Market Size and Forecast, By Rated Current, 2021 - 2032 (USD Million)

7.1 Key trends
7.2 <= 1000 ampere
7.3 > 1000 ampere to <= 5000 ampere
7.4 > 5000 Ampere

Chapter 8 Market Size and Forecast, By Voltage Rating, 2021 - 2032 (USD Million)

8.1 Key trends
8.2 <= 250 volts
8.3 > 250 volts to <= 750 volts
8.4 > 750 volts

Chapter 9 Market Size and Forecast, By Current, 2021 - 2032 (USD Million)

9.1 Key trends
9.2 AC
9.3 DC

Chapter 10 Market Size and Forecast, By Application, 2021 - 2032 (USD Million)

10.1 Key trends
10.2 Substation
10.3 Distribution
10.4 Power factor correction
10.5 Sub distribution
10.6 Motor control

Chapter 11 Market Size and Forecast, By Region, 2021 - 2032 (USD Million)

11.1 Key trends
11.2 North America
- 11.2.1 U.S.
- 11.2.2 Canada
- 11.2.3 Mexico
11.3 Europe
- 11.3.1 UK
11.4 Germany
- 11.4.1 France
- 11.4.2 Russia
- 11.4.3 Italy
- 11.4.4 Spain
11.5 Asia Pacific
- 11.5.1 China
- 11.5.2 Australia
- 11.5.3 India
- 11.5.4 Japan
- 11.5.5 South Korea
11.6 Middle East and Africa
- 11.6.1 Saudi Arabia
- 11.6.2 UAE
- 11.6.3 Qatar
- 11.6.4 Oman
- 11.6.5 South Africa
- 11.6.6 Egypt
11.7 Latin America
- 11.7.1 Brazil
- 11.7.2 Peru
- 11.7.3 Argentina

Chapter 12 Company Profiles

12.1 ABB
12.2 Chint Group
12.3 E + I Engineering
12.4 Eaton Corporation
12.5 Fuji Electric Co., Ltd.
12.6 Hitachi Ltd.
12.7 Hyosung Corporation
12.8 Hyundai Electric and Energy Systems Co., Ltd.
12.9 Lucy Group Ltd.
12.10 Mitsubishi Electric Corporation
12.11 Powell Industries
12.12 Regal Rexnord Corporation
12.13 Siemens
12.14 Skema S.p.A.