Low-voltage switchgear is a three-phase switchgear used to safely, efficiently and reliably supply up to 1000 volts and 6000 amperes of electrical energy. The main DC bus is rated up to 10,000 amperes (for parallel power supplies). Low-voltage switchgear is usually located on the secondary (low-voltage) side of a distribution transformer. This combination of transformer and switchgear is called a substation. Branch circuits and branches. It is used to power critical power systems and industrial processes.
COVID-19 Impact Analysis
- As a result of the global economic slowdown caused by the pandemic, the supply chain got disrupted due to which specialized equipment market got a diverse affect. Hence, production of low voltage switchgear got stopped due to which there is huge decline in the low voltage switchgear market.
- During the time of lockdown in major parts of the world, the manufacturing unit went down as the workers were not available for the work due to the fear of getting infected which led to the shortage of the inventories.
- The post covid scenario is bright for the market as many industries such as heavy industry, manufacturing, mining and metals, petrochemicals, pulp and paper, utilities, water treatment, and data centers are back on track on track and have a demand for the product.
Top Impacting Factors
- Government and regulatory directives have ever since affected utility backed distribution grid networks regarding the setup of electrical infrastructure. The decentralized micro-grid networks integration across grid isolated areas and favorable government regulations toward rural electrification will stimulate the Low Voltage switchgear market share.
- Lack of skilled manpower, losses in the panel, protection of the motor, and delays in project execution are some other factors that inhibit the low voltage switchgear market.
- Rise in demand for manufactured goods along with versatile product operations across the primary and secondary distribution networks will also contribute to market growth.
- Low voltage switchgear market is expected to experience growth due to its application in the real estate sector across emerging countries whereas, large scale integration of distributed power generation technologies along with rampant industrial growth is expected to flourish the outdoor low voltage switchgear market
- Continuous rise in investments of infrastructure with the growing demand for a renewable source of energy is the major factor that drives the low voltage switchgear market around the world.
- The rise in the establishment of smart grid technology and continuous investment in upgrading transmission & distribution systems is expected to uplift the low voltage switchgear market.
- Fast and more number of growing industries and people moving to urban areas are getting familiar with the product and getting knowledge about the usage of the LV switchgear can expected to participate in market growth.
Market Trend
- It is observed that China low voltage switchgear market size is about to show significant growth towards the clean energy deployments.
- Eaton and Abunayyan Holding form joint venture to produce and service low-and medium-voltage switchgear in the Middle East in order to improve the quality of life and the environment through the use of power management technologies and services.
- In January 2020, Schneider Electric expanded its Leeds and Scarborough manufacturing facilities in the UK to meet the growing demand in renewable technology. The Leeds and Scarborough sites are specialized in the production of low voltage switchgear.
- In January 2020, Siemens acquired C&S Electric, one of India’s largest switchgear and power equipment companies, with its major operations in switchgear, busbar, and metering devices to become one of the leading players in terms of switchgear production in India.
Key Benefits of the Report
- This study presents the analytical depiction of the Low Voltage Switchgear industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Low Voltage Switchgear market share.
- The current market is quantitatively analyzed to highlight the Low Voltage Switchgear market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Low Voltage Switchgear market analysis based on competitive intensity and how the competition will take shape in coming years
Key Market Segments
- By Product Type
- Fixed Mounting
- Plug-In
- Withdrawable Unit
- By Voltage Rating
- Less than 250V
- 250V to 750V
- 751V to 1000V
- By Installation
- By Application
- Substation
- Distribution
- Power Factor Correction
- Sub-Distribution
- Motor Control
- By Region
- North America
- Europe
- Asia-Pacific
- LAMEA
Key Market Players
- Schneider
- L&T
- Eaton
- Hyundai Electric
- Al Hassan Engineering
- Siemens
- GE
- Hyosung,
- Powell
- Hitachi
- Mitsubishi
- Norelco START
- Skema
- Lucy Electric
- Hubbell
- ABB
- Fuji
- E+I Engineering