PUBLISHER: Lucintel | PRODUCT CODE: 1386151
PUBLISHER: Lucintel | PRODUCT CODE: 1386151
The future of the global low voltage switchgear market looks promising with opportunities in the substation, distribution, power factor correction, sub distribution, and motor control markets. The global low voltage switchgear market is expected to reach an estimated $99.2 billion by 2030 with a CAGR of 6.1% from 2024 to 2030. The major drivers for this market are growing demand for electricity, renewable energy integration, and industrial automation.
A more than 150-page report is developed to help in your business decisions.
The study includes a forecast for the global low voltage switchgear by product type, voltage rating, application, and region.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies low voltage switchgear companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the low voltage switchgear companies profiled in this report include-
Lucintel forecasts that fixed mounting will remain the largest segment due to its significant application in smart grids.
Within this market, substation is expected to witness highest growth over the forecast period.
APAC will remain the largest region due to rapid economic growth and rising number of projects for refurbishment and upgradation of energy grid neworks in the region.
Market Size Estimates: Low voltage switchgear market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Low voltage switchgear market size by product type, voltage rating, application, and region in terms of value ($B).
Regional Analysis: Low voltage switchgear market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product types, voltage ratings, applications, and regions for the low voltage switchgear market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the low voltage switchgear market.
Analysis of competitive intensity of the industry based on Porter's Five Forces model.
FAQ
Answer: The global low voltage switchgear market is expected to reach an estimated $99.2 billion by 2030.
Answer: The global low voltage switchgear market is expected to grow with a CAGR of 6.1% from 2024 to 2030.
Answer: The major drivers for this market are growing demand for electricity, renewable energy integration, and industrial automation.
Answer: The future of the low voltage switchgear market looks promising with opportunities in the substation, distribution, power factor correction, sub distribution, and motor control markets.
Answer: Some of the key low voltage switchgear companies are as follows:
Answer: Lucintel forecasts that fixed mounting will remain the largest segment due to its significant application in smart grids.
Answer: APAC will remain the largest region due to rapid economic growth and rising number of projects for refurbishment and upgradation of energy grid neworks in the region.
Answer: Yes, Lucintel provides 10% customization without any additional cost.