Global LV and MV Switchgear Market Growth 2023-2029

Global LV and MV Switchgear Market Growth 2023-2029

In general, switchgears are the switching devices that form the backbone of modern electrical distribution systems. According to IEC 60947, switchgears with rated voltages up to 1000 V ac and 1500 V dc are termed as low voltage (LV) switchgear, and medium voltage (MV) switchgear is ranged from 1000V ac rating up to 36 KV and 40.5 KV in term of IEC 62271.

LPI (LP Information)' newest research report, the “LV and MV Switchgear Industry Forecast” looks at past sales and reviews total world LV and MV Switchgear sales in 2022, providing a comprehensive analysis by region and market sector of projected LV and MV Switchgear sales for 2023 through 2029. With LV and MV Switchgear sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world LV and MV Switchgear industry.

This Insight Report provides a comprehensive analysis of the global LV and MV Switchgear landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on LV and MV Switchgear portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global LV and MV Switchgear market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for LV and MV Switchgear and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global LV and MV Switchgear.

The global LV and MV Switchgear market size is projected to grow from US$ 56450 million in 2022 to US$ 82680 million in 2029; it is expected to grow at a CAGR of 82680 from 2023 to 2029.

The main global LV and MV Switchgear manufacturers include ABB, Schneider Electric, EATON, Mitsubishi Electric, SIEMENS, etc. The top five LV and MV Switchgear manufacturers account for approximately 23% of the total global market. China is the largest consumer market for LV and MV Switchgear, accounting for about 26%, followed by Europe and North America. In terms of product, MV switchgear is the largest segment, with a share about 59%. And in terms of application, the largest application is Residential and Commercial Buildings, followed by Infrastructure and utilities.

This report presents a comprehensive overview, market shares, and growth opportunities of LV and MV Switchgear market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

LV Switchgear

MV Switchgear

Segmentation by application

Residential and Commercial Buildings

Infrastructure and utilities

Power Station

Petrochemical

Data Center

Others

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

ABB

Schneider Electric

EATON

Mitsubishi Electric

SIEMENS

Hyundai Heavy Industries

Hyosung

Toshiba

CHINT

WECOME INTELLIGENT MANUFACTURING CO.,LTD

Fuji Electric

LSIS

Sunrise Group

Shenyang high voltage complete switch co., LTD.

LANZHOU GREAT WALL ELECTRICAL CO.,LTD

Huayi Electric Co., Ltd.

Meidensha Corporation

Key Questions Addressed in this Report

What is the 10-year outlook for the global LV and MV Switchgear market?

What factors are driving LV and MV Switchgear market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do LV and MV Switchgear market opportunities vary by end market size?

How does LV and MV Switchgear break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.