The revenue of the low voltage switchgear market with built-in circuit breakers is expected to grow by an average of 6% between 2019 and 2025.
SELBYVILLE, Delaware, Feb. 22, 2019 /PRNewswire/ — Outdoor low-voltage switchgear market share is expected to grow significantly due to the rapid upgrade of utility utility distribution networks. The large-scale application of distributed power generation solutions, combined with extensive industrial development, will positively influence the dynamics of the industry.
According to the latest research report from Global Market Insights, Inc, the global low voltage switchgear market is expected to reach $80 billion by 2025. Active regulatory schemes regarding the introduction of renewable energy sources will stimulate the market. Initiatives such as subsidies, tax breaks, feed-in tariffs and net metering are driving the integration of renewable energy in the suburbs, which in turn will add to the demand for products. In addition, the rapid development of microgrid networks to meet the growing demand for off-grid electricity in developing regions will further increase the commercial potential.
Compared with existing similar products, the unit cost is low and the response time is fast, which is conducive to the spread of fuses throughout the market. Moreover, the effective resonance between circuits containing sensitive electrical equipment and the growing need for intelligent power management systems will further increase demand for products.
Ease of installation combined with effective mechanical stability will increase the market share of low voltage plug-in switchgear. Product penetration will be further complemented by the growing integration of mobile multifunctional modules in digital substations, railway applications and offshore wind farms.
In recent years, the 1001A to 5000A low voltage switchgear industry has been booming with a wide range of small industrial and commercial applications. Growing demand for manufactured goods, coupled with flexible product operations in secondary and primary distribution infrastructure, will further complement the industry’s outlook.
Browse 1,048 pages of key industry information in a report comprised of 1,875 market data tables and 43 figures and graphs: Low Voltage Switchgear Market Size by Type of Protection (Circuit Breakers {ACB, MCCB, MCB, MSP, MPCB}, Fuses {Fuse) “) Disconnectors, fuse disconnectors, other}), by product (fixed installation, plug-in, withdrawable units), by rated current (≤ 1000 A, from 1001 to 5000 A, > 5000 A), by rated voltage (≤ 250 V ) ), from 251 to 750 V, >750 V), by installation (indoor, outdoor), by current (AC, DC), by application (substation, distribution, power factor correction, power distribution in substation, motor control) Industry Analysis Report, Regional Overview (USA, Canada, Mexico, UK, Germany, France, Russia, Italy, Austria, Spain, Netherlands, Denmark, Sweden, China, Australia, India, Japan, South Korea, Indonesia, Malaysia, Singapore , Thailand , New Zealand, Philippines, Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Oman, Turkey, South Africa, Nigeria, Algeria, Egypt, Brazil, Peru, Argentina) application development potential, price trend, competitive market share and forecast for 2019-2025″ Detailed introduction and content:
Less heat generation, flexible and efficient high voltage levels are some of the integral features driving AC power packs into the market. Economical operation, ease of current modulation and efficient conductive properties will further develop commercial prospects.
The >750V low voltage switchgear market is expected to grow due to their wide application in the automotive, semiconductor, heavy assembly, biotechnology and pharmaceutical industries. Moreover, the rapid introduction of low-voltage installations in cogeneration plants, critical power plants, water treatment plants and aircraft installations will further stimulate demand for products.
In the current industrial system, manufacturing and manufacturing industries are the key to realizing income and investment in various economies. Dependence on processed and manufactured products in developed countries has led installers and utilities to favor efficient power distribution technologies, which in turn will drive the growth of the low voltage switchgear market.
The UK market will see growth thanks to favorable regulatory reforms for the implementation of sustainable energy. In addition, the rapid installation of decentralized electrical systems as well as intelligent low-voltage control equipment will further boost the business.
In 2018, the global medium voltage switchgear market had more than 7 million installations annually and is expected to exceed US$50 billion by 2025, thanks to continued commercialization driving overall economic growth.
In 2016, the global market for gas-insulated switchgear was valued at over US$14 billion and is projected to grow at a CAGR of over 8% through 2024, driven by increased investment in replacing legacy networks.
Global Market Insights, Inc., headquartered in Delaware, USA, is a global market research and consulting services provider providing syndicated and customized research reports and growth advisory services. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specifically designed and presented to help make strategic decisions. These comprehensive reports are developed using proprietary research methodologies for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Sales are handled by Arun Hegde, Global Market Insights, Inc. United States Phone: 1-302-846-7766 Toll free: 1-888-689-0688 Email: [email protected] Website: https://www.gminsights.com Blog: http://news-researchers. com/ Contact us: Facebook | Google Plus | LinkedIn | Twitter
Post time: Sep-05-2023