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 4.50% between the forecast period from 2022 and till 2028. The growth in transmission, as well as distribution networks coupled with higher investment in industrial activities by government or private organizations, are major factors driving demand for Low Voltage Disconnect Switch Market.

Key Findings:

• The industrial segment is projected to grow at the fastest CAGR over the forecast period. The segment is holding a dominant position. The industrial segment has a wide range of applications such as Motor Protection, Power Distribution Boards, Utility Infrastructure, Photovoltaic, which is anticipated to fuel the market growth.
• The non-fused segment held the largest market share in 2021. The growth in the segment is driven by a fact that a non-fused disconnect switch is without additional fuse protection and makes it a desirable and highly demanded product in the market.
• North America is expected to hold a significant share in 2021. With increasing commercial activities in the region, the requirement for electricity in countries such as the U.S and Canada is expected to rise.

Some of the major players in the Low Voltage Disconnect Switch Market include - ABB Ltd., Eaton Corporation, Siemens AG, and Schneider Electric SA, Salzer Electronics Ltd, Katko, Ensto, Lovato Electric, Benedict GMBH, and Kraus & Naimer.

Rise in safety concerns in several different industries, enhanced distribution & network transmission of electrical networks coupled with growing industrial and commercial sector all over the globe are factors driving Global Low Voltage Disconnect Switch Market growth. Today different countries are adopting smart grids & substation automation projects that are boosting the demand for low voltage disconnect switches. Major players in the market are putting continuous efforts for upgrade their R&D activities to come up with innovative products and solutions in the field.

Asia Pacific is expected to record the highest CAGR. The growth in this region is driven by the increasing distribution activities in countries like India, China, Malaysia, and Australia. The distribution of electricity is at high speed which has led to higher sales of components that are associated, like circuit breakers, switchgear, and disconnect switches.