Load Break Switch Market by Type (Gas-Insulated, Vacuum, Air-Insulated, & Oil-Immersed), Voltage (Below 11 kV, 11–33 kV, 33–60 kV), Installation (Outdoor & Indoor), End-User (Utilities, Industrial, Commercial), and Region - Global Forecast to 2023
“The load break switch market is projected to grow at a CAGR of 6.16%, from 2018 to 2023.”
The load break switch market is projected to reach USD 3.12 billion by 2023, from an estimated USD 2.32 billion in 2018, at a CAGR of 6.16%, during the forecast period. The refurbishment of aging electrical infrastructure and increasing investment in power distribution sector have boosted the demand for load break switches. Also, the growing renewable-based power generation would further aid the growth of this market. The slowdown in the oil & gas sector would act as a restraint for the load break switch market.
‘The 11 kV–33 kV segment is expected to grow at the highest CAGR, from 2018 to 2023.”
The 11–33 kV segment is expected to be the fastest growing load break switch market, by voltage, from 2018 to 2023. It is considered to be the ideal voltage range for load break switches. These switches find application in the overhead power distribution network in utilities, manufacturing & process industries, and commercial facilities. Application-based demand is high for this particular voltage range, resulting in the higher market share of 11–33 kV load break switches. The demand for 11–33 kV load break switches is also driven by the increasing power demand in developing countries such as India, China, and Japan.
“The utilities segment is expected to dominate the load break switch market from 2018 to 2023.”
The utilities segment is estimated to be the largest market for load break switches in 2018. The market for the utilities segment is driven by the investments being made by electric utilities on refurbishing their existing electrical infrastructure to avoid power failures and deterioration of the existing electrical infrastructure.
“Asia Pacific: The largest market for load break switch.”
Asia Pacific is expected to be the largest market for load break switch in 2018, followed by North America and Europe. China and Japan are expected to be the largest markets for load break switches in the region.
The load break switch market is also growing at a good pace in countries such as India, Australia, and South Korea. These factors are expected to boost the growth of the load break switch market in Asia Pacific.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 45%, Tier 2- 35%, Tier 3- 20%
By Designation: C-Level- 15%, D-Level- 25%, Others- 60%
By Region: Asia Pacific- 40%, North America- 25%, Europe- 20%, Middle East & Africa- 10%, and South America- 5%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2016: Tier 1 = >USD 10 billion, Tier 2 = from USD 1 billion to USD 10 billion, and Tier 3 = <USD 1 billion.
The leading players in the load break switch market include GE (US), Eaton (Ireland), Schneider (France), Siemens (Germany), and ABB (Switzerland).
The report defines, describes, and forecasts the global load break switch market by type, voltage, installation, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market.
Why Buy this Report?
1. The report identifies and addresses key markets for load break switch, which would help suppliers review the growth in the demand for the product.
2. The report helps solutions providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.