Israel Switchgear Market Share, Revenue, Trends, Scope, Challenges, Key Manufacturers, CAGR Status and Growth Opportunities Till 2033


Israel Switchgear Market Share, Revenue, Trends, Scope, Challenges, Key Manufacturers, CAGR Status and Growth Opportunities Till 2033: SPER Market Research

 Published: Dec-2023
 Author: SPER Analyst

Israel Low Voltage Components Market is projected to grow with a CAGR of 5.6%.

The term "low voltage components" describes electrical and electronic equipment made to run at voltages lower than those found in conventional power distribution networks. Electrical equipment using 50 volts (V) or less is categorised as low voltage systems. 12 V, 24 V, and 48 V are common low voltages. Doorbells, garage door openers, thermostats, home security sensors, and landscape lighting are a few residential examples of low voltage systems.

Israel Low Voltage Components Market Driving Factors and Challenges
A major increase of the Israel Low Voltage Components Market is anticipated in the next years, driven by rising energy demand and a developing infrastructure sector expected to draw significant investments. The backdrop for this growth, which is necessary for both societal and commercial activity, is predicted to involve billion-dollar investments in the planning, building, and upkeep of numerous facilities. The multi-year project, which will begin in 2023, aims to rectify the country's inadequate infrastructure in comparison to other nations. With ongoing programmes aimed at closing this gap, the Israeli government hopes to establish the low-voltage components market as a major source of income and present businesses with lucrative opportunities within Israel's expanding infrastructure development scene. It is anticipated that the market for low voltage switchgear will be stimulated by the trend towards renewable energy sources for electricity generation. The primary driver of the global low voltage switchgear market is the ongoing increase in infrastructure investments coupled with the rising need for renewable energy sources. Additionally, it is anticipated that the low voltage components market will rise due to the growing adoption of smart grid technology and ongoing investments in modernising transmission and distribution networks. Rapid urbanisation and industrialization are also anticipated to contribute to market expansion.

This bright future of the Israel low voltage components market is not without challenges, though. A notable impediment to the collaborative effort is the necessity for efficient coordination across the housing, construction, interior, and finance ministries. For housing and infrastructure projects to be implemented successfully, these organisations must continue to have open lines of communication and shared objectives. The rising demand for low voltage components also presents operational and logistical challenges for manufacturers and suppliers, necessitating effective supply chain management and production practises. There are concerns over the quality of the low voltage switchgear because of the high installation costs and the existence of a small unorganised sector. The market for low voltage switchgear is further hindered by a lack of skilled workers, panel losses, motor protection, and project implementation delays.

Impact of COVID-19 on Israel Low Voltage Components Market
The pandemic's effects on the economy generated a disruption in the supply chain, which had a variety of effects on the market for specialised equipment. The low voltage switchgear market has drastically declined as a result of the cessation of low voltage component production. The production facility closed during the lockdown because employees were afraid of contracting the illness and would not come to work, which resulted in a scarcity of supplies. 

Israel Low Voltage Components Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; ABB Israel, Allen Bradley, Eaton Corporation, E-T-A, L&T Technology Services, Schneider Electric, Siemens Ltd, Weidmuller, Others.

Israel Low Voltage Components Market Segmentation:

By Industry: Based on the Industry, Israel Low Voltage Components Market is segmented as; Industrial, Infrastructure, Residential & Commercial Buildings.

By Application: Based on the Application, Israel Low Voltage Components Market is segmented as; ACB, Cabinet/ Panels, MCB, MCCB, RCCB/ RCBO, Starters, Thermal Relays.

By Vertical: Based on the Vertical, Israel Low Voltage Components Market is segmented as; Construction (Apartments, High End Office, Private Residencies, Others), Power Grid Construction & Reconstruction.

By LV and MV Panels: Based on the LV and MV Panels, Israel Low Voltage Components Market is segmented as; LV Panel, MV Panel.

By Wall Socket and Switches: Based on the Wall Socket and Switches, Israel Low Voltage Components Market is segmented as; Switches, Wall Socket.

By Region: This research also includes data for Eastern region, Northern region, Southern region, Western region.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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