Low Voltage Switchgear Market Growth, Size, Trends, Demand, Revenue, Share and Future Outlook

Low Voltage Switchgear Market Size- By Product Type, By Voltage Rating, By Installation, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Low Voltage Switchgear Market Size- By Product Type, By Voltage Rating, By Installation, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Published: Oct 2023 Report ID: MACH2355 Pages: 1 - 231 Formats*:     
Category : Equipment and Machinery
Low Voltage (LV) Switchgear Market Introduction and Overview 

According to SPER Market Research, the Global Low Voltage Switchgear Market is estimated to reach USD 57.89 billion by 2033 with a CAGR of 10.64%.

The report includes an in-depth analysis of the Global Low Voltage Switchgear market, including market size and trends, product mix, distribution channels, and supplier analysis. Low-voltage switchgear is a three-phase switchgear that supplies up to 1000 volts and 6000 amps of electrical energy safely, efficiently, and reliably. The main DC bus has a capacity of 10,000 amps (for parallel power supplies). Low-voltage switchgear is typically found on a distribution transformer's secondary (low-voltage) side. A substation is a combination of transformer and switchgear. Circuits and branches are examples of branch circuits. It fuels vital power systems and industrial activities.

  • Siemens bought C&S Electric, one of India's largest switchgear and power equipment companies, with extensive activities in switchgear, busbar, and metering devices, to become one of India's leading switchgear producers.
  • Siemens acquired a dominant force in switchgear manufacture in India by acquiring C&S Electric, one of the biggest switchgear and power equipment firms in India, which specialized in switchgear, busbars, and metering devices.
Low Voltage Switchgear Market
Market Opportunities and Challenges

Opportunities: Expanding markets will be driven by the growing need for produced goods as well as flexible product operations throughout primary and secondary distribution networks. The real estate industry in emerging nations is anticipated to drive growth in the indoor low voltage switchgear market. Meanwhile, the outdoor low voltage switchgear market is anticipated to experience rapid growth due to widespread integration of distributed power generation technologies and rapid industrial growth. Furthermore, Global demand for low voltage switchgear is mostly driven by a continuous increase in infrastructure investments and a growing need for renewable energy sources. Additionally, it is anticipated that the low voltage switchgear market will rise due to the growing adoption of smart grid technology and ongoing investments in modernizing transmission and distribution networks. Furthermore, it is anticipated that rising urbanization and industrialization would contribute to market expansion.

Challenges: The high cost of installation and the existence of a little unorganized industry in China raise questions about the quality of low voltage switchgear. Other challenges impeding the low voltage switchgear industry include insufficient skilled labour, losses in the panel, motor protection, and project execution delays.

Low Voltage Switchgear Market


Market Competitive Landscape
The market for Low Voltage Switchgear is extremely competitive worldwide, and the leading companies have implemented a range of tactics to secure the largest possible market share. Mitsubishi, Hubbell, Siemens, Al Hassan Engineering, Norelco START, Fuji, Powell, L&T, Hyosung,, Schneider, Hitachi, E+I Engineering, Eaton, GE, Hyundai Electric, ABB, Skema, Lucy Electric are some of the major companies in the market.

Scope of the Report:
 Report Metric Details
 Market size available for years 2019-2033
 Base year considered 2022
 Forecast period 2023-2033
 Segments coveredBy Product Type, By Voltage Rating, By Installation, By Application
 Regions covered
North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
 Companies CoveredMitsubishi, Hubbell, Siemens, Fuji, Powell, L&T, Hyosung,, Schneider, Hitachi, E+I Engineering, Eaton, Hyundai Electric, ABB, Skema, Lucy Electric
COVID-19 Impact on Global Low Voltage Switchgear Market
The pandemic's effects on the world economy generated a disruption in the supply chain, which had a variety of effects on the market for specialized equipment. As a result, the low voltage switchgear market saw a sharp fall as production of the equipment was halted. The manufacturing plant shut down during the lockdown that affected many regions of the world because workers were afraid to work for fear of contracting the infection, which resulted in a scarcity of inventory.

Key Target Audience
  • Electrical Contractors
  • Utilities
  • Industrial Facilities
  • Commercial Buildings
  • Data Centers
  • Renewable Energy Sector
  • Engineering and Design Firms
  • Government and Municipalities
  • Facility Managers
Our in-depth analysis of the Low Voltage Switchgear Market includes the following segments:
By Product Type:
  • Fixed Mounting, Plug-In
  • Withdrawable Unit
  • By Voltage Rating:
  • Less than 250V
  • 250V to 750V
  • 751V to 1000V
  • By Installation:
  • Indoor
  • Outdoor
  • By Application:
  • Correction
  • Distribution
  • Motor Control
  • Power Factor
  • Sub-Distribution
  • Substation
  • By Region:
  • Asia-Pacific
  • Europe
  • Middle East & Africa
  • North America
  • Latin America
  • Key Topics Covered in the Report
    • Global Low Voltage Switchgear Market Size (FY’2023-FY’2033)
    • Overview of Global Low Voltage Switchgear Market
    • Segmentation of Global Low Voltage Switchgear Market By Product Type (Fixed Mounting, Withdrawal Unit)
    • Segmentation of Global Low Voltage Switchgear Market By Voltage Rating (Less than 250V, 250V to 750V, 751V to 1000V)
    • Segmentation of Global Low Voltage Switchgear Market By Installation (Indoor, Outdoor)
    • Segmentation of Global Low Voltage Switchgear Market By Application (Correction, Distribution, Motor Control, Power Factor, Sub-Distribution, Substation)
    • Statistical Snap of Global Low Voltage Switchgear Market
    • Expansion Analysis of Global Low Voltage Switchgear Market
    • Problems and Obstacles in Global Low Voltage Switchgear Market
    • Competitive Landscape in the Global Low Voltage Switchgear Market
    • Impact of COVID-19 and Demonetization on Global Low Voltage Switchgear Market
    • Details on Current Investment in Global Low Voltage Switchgear Market
    • Competitive Analysis of Global Low Voltage Switchgear Market
    • Prominent Players in the Global Low Voltage Switchgear Market
    • SWOT Analysis of Global Low Voltage Switchgear Market
    • Global Low Voltage Switchgear Market Future Outlook and Projections (FY’2023-FY’2033)
    • Recommendations from Analyst
    1. Introduction
    1.1. Scope of the report
    1.2. Market segment analysis

    2. Research Methodology
    2.1. Research data source
    2.1.1. Secondary Data
    2.1.2. Primary Data
    2.1.3. SPER’s internal database
    2.1.4. Premium insight from KOL’s
    2.2. Market size estimation
    2.2.1. Top-down and Bottom-up approach
    2.3. Data triangulation

    3. Executive Summary

    4. Market Dynamics
    4.1. Driver, Restraint, Opportunity and Challenges analysis
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunities
    4.1.4. Challenges
    4.2. COVID-19 Impacts of the Global Low Voltage Switchgear Market

    5. Market variable and outlook
    5.1. SWOT Analysis
    5.1.1. Strengths
    5.1.2. Weaknesses
    5.1.3. Opportunities
    5.1.4. Threats
    5.2. PESTEL Analysis
    5.2.1. Political Landscape
    5.2.2. Economic Landscape
    5.2.3. Social Landscape
    5.2.4. Technological Landscape
    5.2.5. Environmental Landscape
    5.2.6. Legal Landscape
    5.3. PORTER’s Five Forces 
    5.3.1. Bargaining power of suppliers
    5.3.2. Bargaining power of buyers
    5.3.3. Threat of Substitute
    5.3.4. Threat of new entrant
    5.3.5. Competitive rivalry
    5.4. Heat Map Analysis

    6. Competitive Landscape
    6.1. Global Low Voltage Switchgear Market Manufacturing Base Distribution, Sales Area, Product Type 
    6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Low Voltage Switchgear Market 

    7. Global Low Voltage Switchgear Market, By Product Type (USD Million)
    7.1. Global Low Voltage Switchgear Market Value Share and Forecast, By Product Type, 2023-2033
    7.2. Fixed Mounting, Plug-In
    7.3. Withdrawable Unit

    8. Global Low Voltage Switchgear Market, By Voltage Rating (USD Million)
    8.1. Global Low Voltage Switchgear Market  Value Share and Forecast, By Voltage Rating, 2023-2033
    8.2. Less than 250V
    8.3. 250V to 750V
    8.4.  751V to 1000V

    9. Global Low Voltage Switchgear Market , By Installation (USD Million)
    9.1. Global Low Voltage Switchgear Market  Value Share and Forecast, By Installation, 2023-2033
    9.2. Indoor
    9.3. Outdoor

    10. Global Low Voltage Switchgear Market , By Application (USD Million)
    10.1. Global Low Voltage Switchgear Market  Value Share and Forecast, By Application, 2023-2033
    10.2. Correction
    10.3. Distribution
    10.4. Motor Control
    10.5. Power Factor
    10.6. Sub-Distribution 
    10.7. Substation

    11. Global Low Voltage Switchgear Market Forecast, 2019-2033 (USD Million)
    11.1. Global Low Voltage Switchgear Market Size and Market Share

    12. Global Low Voltage Switchgear Market, By Product Type, 2019-2033 (USD Million)
    12.1. Global Low Voltage Switchgear Market Size and Market Share By Product Type (2019-2026)
    12.2. Global Low Voltage Switchgear Market Size and Market Share By Product Type (2027-2033)

    13. Global Low Voltage Switchgear Market, By Installation, 2019-2033 (USD Million)
    13.1. Global Low Voltage Switchgear Market Size and Market Share By Installation (2019-2026)
    13.2. Global Low Voltage Switchgear Market Size and Market Share By Installation (2027-2033)

    14. Global Low Voltage Switchgear Market, By Application, 2019-2033 (USD Million)
    14.1. Global Low Voltage Switchgear Market Size and Market Share By Application (2019-2026)
    14.2. Global Low Voltage Switchgear Market Size and Market Share By Application (2027-2033)

    15. Global Low Voltage Switchgear Market, By Region, 2019-2033 (USD Million)
    15.1. Global Low Voltage Switchgear Market Size and Market Share By Region (2019-2026)
    15.2. Global Low Voltage Switchgear Market Size and Market Share By Region (2027-2033)
    15.3. Asia-Pacific
    15.3.1. Australia
    15.3.2. China
    15.3.3. India
    15.3.4. Japan
    15.3.5. South Korea
    15.3.6. Rest of Asia-Pacific
    15.4. Europe
    15.4.1. France
    15.4.2. Germany
    15.4.3. Italy
    15.4.4. Spain
    15.4.5. United Kingdom
    15.4.6. Rest of Europe
    15.5. Middle East and Africa
    15.5.1. Kingdom of Saudi Arabia 
    15.5.2. United Arab Emirates
    15.5.3. Rest of Middle East & Africa
    15.6. North America
    15.6.1. Canada
    15.6.2. Mexico
    15.6.3. United States
    15.7. Latin America
    15.7.1. Argentina
    15.7.2. Brazil
    15.7.3. Rest of Latin America

    16. Company Profile
    16.1. ABB
    16.1.1. Company details
    16.1.2. Financial outlook
    16.1.3. Product summary 
    16.1.4. Recent developments
    16.2. Ariana
    16.2.1. Company details
    16.2.2. Financial outlook
    16.2.3. Product summary 
    16.2.4. Recent developments
    16.3. Eaton
    16.3.1. Company details
    16.3.2. Financial outlook
    16.3.3. Product summary 
    16.3.4. Recent developments
    16.4. E+I Engineering
    16.4.1. Company details
    16.4.2. Financial outlook
    16.4.3. Product summary 
    16.4.4. Recent developments
    16.5. Fuji
    16.5.1. Company details
    16.5.2. Financial outlook
    16.5.3. Product summary 
    16.5.4. Recent developments
    16.6. Hitachi
    16.6.1. Company details
    16.6.2. Financial outlook
    16.6.3. Product summary 
    16.6.4. Recent developments
    16.7. Hyundai Electric
    16.7.1. Company details
    16.7.2. Financial outlook
    16.7.3. Product summary 
    16.7.4. Recent developments
    16.8. Hubbell
    16.8.1. Company details
    16.8.2. Financial outlook
    16.8.3. Product summary 
    16.8.4. Recent developments
    16.9. Hyosung
    16.9.1. Company details
    16.9.2. Financial outlook
    16.9.3. Product summary 
    16.9.4. Recent developments
    16.10. L&T
    16.10.1. Company details
    16.10.2. Financial outlook
    16.10.3. Product summary 
    16.10.4. Recent developments
    16.11. Mitsubishi
    16.11.1. Company details
    16.11.2. Financial outlook
    16.11.3. Product summary 
    16.11.4. Recent developments
    16.12. Others 

    17. List of Abbreviations

    18. Reference Links

    19. Conclusion

    20. Research Scope

    SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

    The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings.  The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

    SPER-Methodology-1

    SPER-Methodology-2

    SPER-Methodology-3


    Frequently Asked Questions About This Report
    Low Voltage Switchgear Market size is USD 57.89 billion from 2023 to 2033.
    Low Voltage Switchgear Market Segment is covered By Product Type, By Voltage Rating, By Installation, By Application.
    The North America is anticipated to have the highest market share in the Low Voltage Switchgear Market.
    The key players in the market include Companies Covered Mitsubishi, Hubbell, Siemens, Fuji, Powell, L&T, Hyosung,, Schneider, Hitachi, E+I Engineering, Eaton, Hyundai Electric, ABB, Skema, Lucy Electric.
    Low-voltage switchgear is a three-phase switchgear that supplies up to 1000 volts and 6000 amps of electrical energy safely, efficiently, and reliably.
    Low Voltage Switchgear Market is projected to reach USD 57.89 billion by 2033, growing at a CAGR of 10.64% during the forecast period.
    Low Voltage Switchgear Market grew in market size from 2022. The Market is expected to reach USD 57.89 billion by 2033, at a CAGR of 10.64% during the forecast period.
    Low Voltage Switchgear Market CAGR of 10.64% during the forecast period.
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