Load Break Switch Market Highlights
The global load break switch market was last valued at
USD 1.98 billion in 2017, and since then, the market is supposed to witness a
steady growth rate by the year 2023. This reports have been directly raised by
Market Research Future (MRFR). Load break switches are devices that are
designed to easily enable transmission or restricts specific types of current.
This is done to make safer operation of the power system and protects the grid
from blackouts. Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19
on Load
Break Switch Market is included in the present report.
Top Players:
The
key players of the global Load Break Switch market are ABB (Switzerland), Eaton
(Ireland), Schneider (France), GE (U.S.), Siemens (Germany), Socomec (France),
Rockwell Automation (U.S.), Fuji Electric (Japan), Powell Electric (U.S.), and
Ensto (Finland).
Global Load break switch market: Drivers &
Constraints
in the recent times, the trend of refurbishing of
aging electric infrastructure coupled with increasing investments made in power
sector distribution have boosted the demand for the load break switches. Also,
the exiting renewable-based power generation growth is aide the load break
switch market in substancial ways.
With high proliferation of population, the power
industry is witnessing a number of new power generation and transmission
projects. There has been see a high need for increased access to power for
enabling the growth of economy. Since, the past decade, Asia Pacific region has
witnessed an exponential growth in power plant installation project. These have
been done in India and China where increase in demands for power distribution
is catered to the masses have immensly supported the load break switch market
in splendid ways.
Notably, load break switches play a crucial role for
effective transmission of power in a line with the grid transmission
specification and frequency. Other factors propelling the growth of the market
are growing power generation sector, growing technological advancements, and
growing power distribution channels. Such innovations are rapidly establishing
themselves in the market with a promising growth posiibility in the years to
come.
Load Break Switch
Market Segmentation
MRFR's analysis of the global load break switches
Market has been performed by segmenting on the basis of type, voltage type,
installation type, end-user, and region.
By mode of type, the load break switch market is
further classified into gas-insulated, vaccum-insulated, air-insulated, and
oil-immersed types.
By mode of installation type, it is projected that the
outdoor segment is expected to have the larger share of the market owing to the
increased implementation in projects.
By mode of voltage type, the load break switch market
is accounted over below 11kv, 11-33 kv, 33-60kv.
Regional Outlook
The global load break switch market has covered the
regions of North America, Europe, and Asia-Pacific.
the load break switch market is dominated in North
America and Europe as these regions had increased emphasis on safety and
providing grid connectivity to the remote locations. The Asia-Pacific region is
expected to keep the market at higher CAGR owing to major power generation
projects and grid upgradation projects implemented in China, India and
Indonesia. The market is expected to witness a huge opportunity through the
digitization of the utility sector. Whereas, the Europe region is expected to
command the second largest market share with major regions focusing on grid
upgrade projects.
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