About Low Voltage Load Switch
Low voltage load switch is used mainly to de-energize the electric circuits. It is mostly applicable in broad applications in large industries as well as power distribution applications. Increasing demand for Low voltage load switch across end-use industries such as electrical and electronics, oil & gas, and the industry is steering market growth. Rising consumer awareness towards protection against overload as well as short circuit and its impact on up-gradation of the product will support industry demand. Furthermore, factors such as the growing demand for power plants coupled with shifting consumer focus toward utility infrastructure, power distribution boards will bolster the product demand over the forecast time period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Competition among existing players is due to the Low Voltage Load Switch market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Low Voltage Load Switch Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Siemens (Germany), Schneider (France), Feidiao (China), Simon (Spain), Panasonic (Japan), TCL (China), Lonon (Netherlands) and SOBEN (Hong Kong) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are GLF Integrated Power, Inc. (United States), Skyworks Solutions (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Low Voltage Load Switch market by Type (Oilimmersed Type and Vacuum Type), Application (Power Plant, Power Substation and Industrial and Mining Enterprises) and Region.
On the basis of geography, the market of Low Voltage Load Switch has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement.
Influencing Trend:
Increasing Demand at Developing Countries for Power Distribution
Market Growth Drivers:
Rising Urbanization and Industrialization and Growing Demand of Distribution and Transmission Network in Smart Cities
Challenges:
Stringent Government Rules and Regulations and Skilled Individual Required for Installation
Restraints:
Fluctuating Price of Raw Materials Hamper the Market and Lack of Research and Developments Restrain the Market.
Opportunities:
Adoption of Smart Grids and Substation Automation Projects. and Upsurge Demand for Low Voltage Disconnect Switches.
Market Leaders and their expansionary development strategies
In May 2023, ABB announced May 4 that it’s completed its acquisition of Siemens’ low-voltage NEMA motor business. The transaction was originally announced last August, though financial terms of the transaction weren’t disclosed.
In December 2023, Littelfuse has announced the latest release of five versatile load switch devices in the Protection ICs product line.
In most European countries, “According to International Conference and Exhibition on Electricity Distribution, where subventions and the obligation to connect small solar and biomass power generation lead to necessary extensions and strengthening of the LV grids”.
Key Target Audience
Low voltage load switch Manufacturers, Low voltage load switch Traders, End-Use Market Participants of Different Segments of Low voltage load switch, Government and Research Organizations, R&D Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.