LV Switchgear Market Worth Over $80 Billion by 2025: Global Market Insights, Inc.
Circuit breaker integrated low voltage switchgear market revenue is projected to register 6% CAGR from 2019 to 2025
Feb 22, 2019, 02:00 ET
SELLBYVILLE, Del., Feb. 22, 2019 /PRNewswire/ -- Outdoor LV switchgear market share is projected to witness an upsurge owing to rapid escalation of utility aided electricity distribution network. Large scale incorporation of distributed electricity generation solutions in line with extensive industrial development will positively sway the industry dynamics.
Global Low Voltage Switchgear Market is expected to hit USD 80 billion by 2025, as reported in the latest study by Global Market Insights, Inc. Positive regulatory schemes in reference to the adoption of renewable energy resources will drive the market. Subsidies, tax rebates, FiT's and net metering are few initiatives favoring renewable integration across suburban areas which in turn will complement the product demand. In addition, rapid enhancement of micro-grid networks in order to cater the rising off-grid electricity demand across developing regions will further strengthen the business potential.
Low unit cost & quick reaction time when compared to the existing counterparts favor the deployment of fuse units across the market landscape. Moreover, effective resonance across circuits incorporating sensitive electrical devices along with growing demand for smart power control systems will further augment the product demand.
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Easy installation coupled with efficient mechanical stability will boost the plug-in LV switchgear market share. Ongoing incorporation of transportable multifunctional modules across digital substations, railway application and offshore windfarms will further complement the product penetration.
In the recent years, 1001 to 5000 Ampere LV switchgear industry has gained impetus owing to their wide small-scale industrial & commercial applications. Growing demand for manufactured goods in line with flexible product operations across secondary and primary distribution infrastructure will further complement the industry outlook.
Browse key industry insights spread across 1048 pages with 1875 market data tables & 43 figures & charts from the report, "Low Voltage Switchgear Market Size By Protection (Circuit Breakers {ACB, MCCB, MCB, MSP, MPCB}, Fuse {Fuse-Switch Disconnector, Switch Disconnector with Fuse, Others}), By Product (Fixed Mounting, Plug-in, Withdrawable Unit), By Rated Current (≤ 1000 Ampere, 1001 to 5000 Ampere, > 5000 Ampere), By Voltage Rating (≤ 250 Volts, 251 to 750 Volts, > 750 Volts), By Installation (Indoor, Outdoor), By Current (AC, DC) By Application (Substation, Distribution, Power Factor Correction, Sub Distribution, Motor Control) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Germany, France, Russia, Italy, Austria, Spain, Netherlands, Denmark, Sweden, China, Australia, India, Japan, South Korea, Indonesia, Malaysia, Singapore, Thailand, New Zealand, Philippines, Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Oman, Turkey, South Africa, Nigeria, Algeria, Egypt, Brazil, Peru, Argentina) Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/low-voltage-lv-switchgear-market
Lesser heat generation, flexible & effective high voltage levels are a few indispensable features driving AC unit deployments across the market. Economical operations, ease of current modulation along with effective conducting properties will further thrust the business landscape.
> 750 Volt low voltage switchgear market is anticipated to grow owing to their wide application across automotive, semiconductor, heavy assembly, biotech and pharmaceutical industries. Moreover, rapid acceptance of LV units across co-generating plants, critical power applications, water treatment plants and aviation facilities will further stimulate the product demand.
In the current industrial regime, process and manufacturing industries act as a pivotal across economies for revenue realization and investments. Developed nations pose dependency on processed & manufactured products directing installer & utility preferences toward the incorporation of efficient distribution technologies which in turn will escalate the low voltage switchgear market growth.
The UK market will observe growth in conjunction with favorable regulatory reforms towards sustainable energy adoption. Furthermore, rapid installation of decentralized electrical systems along with smart LV control devices will further foster the business headway.
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Global Medium Voltage Switchgear Market in 2018 surpassed an annual installation of 7 million units and is anticipated to exceed USD 50 billion by 2025 owing to ongoing commercialization with an aim to upscale the overall economic growth.
https://www.gminsights.com/industry-analysis/medium-voltage-switchgear-market
Gas Insulated Switchgear Market Size Outlook to 2024
Global Gas Insulated Switchgear Market for 2016 was valued at over USD 14 billion and is forecast to grow over 8% CAGR by 2024 impelled by growing investments toward replacement of aging electric grid network.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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