Low Voltage (LV) Switchgear Market Introduction and Overview
According to SPER Market Research, the Global Low Voltage Switchgear Market is estimated to reach USD 57.89 billion by 2033 with a CAGR of 10.64%.
The report includes an in-depth analysis of the Global Low Voltage Switchgear market, including market size and trends, product mix, distribution channels, and supplier analysis. Low-voltage switchgear is a three-phase switchgear that supplies up to 1000 volts and 6000 amps of electrical energy safely, efficiently, and reliably. The main DC bus has a capacity of 10,000 amps (for parallel power supplies). Low-voltage switchgear is typically found on a distribution transformer's secondary (low-voltage) side. A substation is a combination of transformer and switchgear. Circuits and branches are examples of branch circuits. It fuels vital power systems and industrial activities.
- Siemens bought C&S Electric, one of India's largest switchgear and power equipment companies, with extensive activities in switchgear, busbar, and metering devices, to become one of India's leading switchgear producers.
- Siemens acquired a dominant force in switchgear manufacture in India by acquiring C&S Electric, one of the biggest switchgear and power equipment firms in India, which specialized in switchgear, busbars, and metering devices.
Market Opportunities and Challenges
Opportunities: Expanding markets will be driven by the growing need for produced goods as well as flexible product operations throughout primary and secondary distribution networks. The real estate industry in emerging nations is anticipated to drive growth in the indoor low voltage switchgear market. Meanwhile, the outdoor low voltage switchgear market is anticipated to experience rapid growth due to widespread integration of distributed power generation technologies and rapid industrial growth. Furthermore, Global demand for low voltage switchgear is mostly driven by a continuous increase in infrastructure investments and a growing need for renewable energy sources. Additionally, it is anticipated that the low voltage switchgear market will rise due to the growing adoption of smart grid technology and ongoing investments in modernizing transmission and distribution networks. Furthermore, it is anticipated that rising urbanization and industrialization would contribute to market expansion.
Challenges: The high cost of installation and the existence of a little unorganized industry in China raise questions about the quality of low voltage switchgear. Other challenges impeding the low voltage switchgear industry include insufficient skilled labour, losses in the panel, motor protection, and project execution delays.
Market Competitive Landscape
The market for Low Voltage Switchgear is extremely competitive worldwide, and the leading companies have implemented a range of tactics to secure the largest possible market share. Mitsubishi, Hubbell, Siemens, Al Hassan Engineering, Norelco START, Fuji, Powell, L&T, Hyosung,, Schneider, Hitachi, E+I Engineering, Eaton, GE, Hyundai Electric, ABB, Skema, Lucy Electric are some of the major companies in the market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product Type, By Voltage Rating, By Installation, By Application
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Mitsubishi, Hubbell, Siemens, Fuji, Powell, L&T, Hyosung,, Schneider, Hitachi, E+I Engineering, Eaton, Hyundai Electric, ABB, Skema, Lucy Electric
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COVID-19 Impact on Global Low Voltage Switchgear Market
The pandemic's effects on the world economy generated a disruption in the supply chain, which had a variety of effects on the market for specialized equipment. As a result, the low voltage switchgear market saw a sharp fall as production of the equipment was halted. The manufacturing plant shut down during the lockdown that affected many regions of the world because workers were afraid to work for fear of contracting the infection, which resulted in a scarcity of inventory.
Key Target Audience
- Electrical Contractors
- Utilities
- Industrial Facilities
- Commercial Buildings
- Data Centers
- Renewable Energy Sector
- Engineering and Design Firms
- Government and Municipalities
- Facility Managers
Our in-depth analysis of the Low Voltage Switchgear Market includes the following segments:
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By Product Type:
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Fixed Mounting, Plug-In
Withdrawable Unit
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By Voltage Rating:
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Less than 250V
250V to 750V
751V to 1000V
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By Installation:
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Indoor
Outdoor
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By Application:
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Correction
Distribution
Motor Control
Power Factor
Sub-Distribution
Substation
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By Region:
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Asia-Pacific
Europe
Middle East & Africa
North America
Latin America
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Key Topics Covered in the Report
- Global Low Voltage Switchgear Market Size (FY’2023-FY’2033)
- Overview of Global Low Voltage Switchgear Market
- Segmentation of Global Low Voltage Switchgear Market By Product Type (Fixed Mounting, Withdrawal Unit)
- Segmentation of Global Low Voltage Switchgear Market By Voltage Rating (Less than 250V, 250V to 750V, 751V to 1000V)
- Segmentation of Global Low Voltage Switchgear Market By Installation (Indoor, Outdoor)
- Segmentation of Global Low Voltage Switchgear Market By Application (Correction, Distribution, Motor Control, Power Factor, Sub-Distribution, Substation)
- Statistical Snap of Global Low Voltage Switchgear Market
- Expansion Analysis of Global Low Voltage Switchgear Market
- Problems and Obstacles in Global Low Voltage Switchgear Market
- Competitive Landscape in the Global Low Voltage Switchgear Market
- Impact of COVID-19 and Demonetization on Global Low Voltage Switchgear Market
- Details on Current Investment in Global Low Voltage Switchgear Market
- Competitive Analysis of Global Low Voltage Switchgear Market
- Prominent Players in the Global Low Voltage Switchgear Market
- SWOT Analysis of Global Low Voltage Switchgear Market
- Global Low Voltage Switchgear Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Low Voltage Switchgear Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Low Voltage Switchgear Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Low Voltage Switchgear Market
7. Global Low Voltage Switchgear Market, By Product Type (USD Million)
7.1. Global Low Voltage Switchgear Market Value Share and Forecast, By Product Type, 2023-2033
7.2. Fixed Mounting, Plug-In
7.3. Withdrawable Unit
8. Global Low Voltage Switchgear Market, By Voltage Rating (USD Million)
8.1. Global Low Voltage Switchgear Market Value Share and Forecast, By Voltage Rating, 2023-2033
8.2. Less than 250V
8.3. 250V to 750V
8.4. 751V to 1000V
9. Global Low Voltage Switchgear Market , By Installation (USD Million)
9.1. Global Low Voltage Switchgear Market Value Share and Forecast, By Installation, 2023-2033
9.2. Indoor
9.3. Outdoor
10. Global Low Voltage Switchgear Market , By Application (USD Million)
10.1. Global Low Voltage Switchgear Market Value Share and Forecast, By Application, 2023-2033
10.2. Correction
10.3. Distribution
10.4. Motor Control
10.5. Power Factor
10.6. Sub-Distribution
10.7. Substation
11. Global Low Voltage Switchgear Market Forecast, 2019-2033 (USD Million)
11.1. Global Low Voltage Switchgear Market Size and Market Share
12. Global Low Voltage Switchgear Market, By Product Type, 2019-2033 (USD Million)
12.1. Global Low Voltage Switchgear Market Size and Market Share By Product Type (2019-2026)
12.2. Global Low Voltage Switchgear Market Size and Market Share By Product Type (2027-2033)
13. Global Low Voltage Switchgear Market, By Installation, 2019-2033 (USD Million)
13.1. Global Low Voltage Switchgear Market Size and Market Share By Installation (2019-2026)
13.2. Global Low Voltage Switchgear Market Size and Market Share By Installation (2027-2033)
14. Global Low Voltage Switchgear Market, By Application, 2019-2033 (USD Million)
14.1. Global Low Voltage Switchgear Market Size and Market Share By Application (2019-2026)
14.2. Global Low Voltage Switchgear Market Size and Market Share By Application (2027-2033)
15. Global Low Voltage Switchgear Market, By Region, 2019-2033 (USD Million)
15.1. Global Low Voltage Switchgear Market Size and Market Share By Region (2019-2026)
15.2. Global Low Voltage Switchgear Market Size and Market Share By Region (2027-2033)
15.3. Asia-Pacific
15.3.1. Australia
15.3.2. China
15.3.3. India
15.3.4. Japan
15.3.5. South Korea
15.3.6. Rest of Asia-Pacific
15.4. Europe
15.4.1. France
15.4.2. Germany
15.4.3. Italy
15.4.4. Spain
15.4.5. United Kingdom
15.4.6. Rest of Europe
15.5. Middle East and Africa
15.5.1. Kingdom of Saudi Arabia
15.5.2. United Arab Emirates
15.5.3. Rest of Middle East & Africa
15.6. North America
15.6.1. Canada
15.6.2. Mexico
15.6.3. United States
15.7. Latin America
15.7.1. Argentina
15.7.2. Brazil
15.7.3. Rest of Latin America
16. Company Profile
16.1. ABB
16.1.1. Company details
16.1.2. Financial outlook
16.1.3. Product summary
16.1.4. Recent developments
16.2. Ariana
16.2.1. Company details
16.2.2. Financial outlook
16.2.3. Product summary
16.2.4. Recent developments
16.3. Eaton
16.3.1. Company details
16.3.2. Financial outlook
16.3.3. Product summary
16.3.4. Recent developments
16.4. E+I Engineering
16.4.1. Company details
16.4.2. Financial outlook
16.4.3. Product summary
16.4.4. Recent developments
16.5. Fuji
16.5.1. Company details
16.5.2. Financial outlook
16.5.3. Product summary
16.5.4. Recent developments
16.6. Hitachi
16.6.1. Company details
16.6.2. Financial outlook
16.6.3. Product summary
16.6.4. Recent developments
16.7. Hyundai Electric
16.7.1. Company details
16.7.2. Financial outlook
16.7.3. Product summary
16.7.4. Recent developments
16.8. Hubbell
16.8.1. Company details
16.8.2. Financial outlook
16.8.3. Product summary
16.8.4. Recent developments
16.9. Hyosung
16.9.1. Company details
16.9.2. Financial outlook
16.9.3. Product summary
16.9.4. Recent developments
16.10. L&T
16.10.1. Company details
16.10.2. Financial outlook
16.10.3. Product summary
16.10.4. Recent developments
16.11. Mitsubishi
16.11.1. Company details
16.11.2. Financial outlook
16.11.3. Product summary
16.11.4. Recent developments
16.12. Others
17. List of Abbreviations
18. Reference Links
19. Conclusion
20. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
