Global Load Break Switches Market is expected to be worth US$ 4.1 Billion at a CAGR of 5.4 % by the forecast period 2033 end

The growth of the Load Break Switches Market in the United States is being fueled by the country’s increasing electricity demand, the necessity for a dependable power supply, and government efforts to enhance power distribution infrastructure. Moreover, advancements in technology are anticipated to open up new opportunities for manufacturers of load-break switches.

/EIN News/ — NEWARK, Del, June 21, 2023 (GLOBE NEWSWIRE) — The global load break switches market size is likely to be valued at US$ 2.4 billion in 2023. The increasing application of load break switches in different industry verticals is driving the market growth. The market is estimated to garner US$ 4.1 billion in 2033, recording a CAGR of 5.4% from 2023 to 2033.

Increasing the application of load break switches in the utility and industrial sectors is expected to boost market sales in the forecast period. The growth of the load break power switches market is due to the increasing investment in the power distribution industry and increased focus on renewable energy generation.

Increased demand for renewable power generation and growing investment in the power distribution sector are likely to provide opportunities for load break switches during the forecast period.

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Increasing focus on energy efficiency, driven by environmental concerns and the need to reduce energy costs is driving the demand for load break switches as they help to improve the efficiency of power distribution networks. Increasing applications in the commercial sectors have created opportunities for market growth.

The demand for load break switches in the utility sector is expected to increase during the forecast period due to the increasing investment by electric utilities toward guarding and maintaining existing electrical infrastructure. The demand for gas-insulated load break switches is high in the utility sector owing to their ability to safely handle the requirement of the utility sector.

The Asia-Pacific region is expected to dominate the load break switch market during the forecast period, followed by North America and Europe. The demand for load break switches increases in North America owing to the growing electricity demand the need for a reliable power supply, and government initiatives to upgrade the power distribution infrastructure.

Key Takeaways:

• From 2018 to 2022, the market demand expanded at a CAGR of 6.5%.
• Based on type, the gas-insulated segment accounts for a CAGR of 5.2%.
• By voltage, the below 11kV segment is expected to expand at a CAGR of 5.1% during the forecast period.
• North America to emerge as a promising market, capturing a CAGR of 5.3%.
• Asia Pacific is an opportunistic market, expected to capture a CAGR of 5.3% during the forecast period.  

Competitive Landscape:

Prominent players in the load break switches market are ABB Ltd.; Eaton Corporation PLC; Fuji Electric Co., Ltd.; Legrand SA; Powell Industries, Inc., among others. Some notable developments are as follows:

• In May 2023 – ABB announced the acquisition of the Siemens low voltage NEMA motor business. The business generated revenues of approximately $63 million in 2021.
• In April 2023 – Eaton (Intelligent power management company) announced it has completed the acquisition of a 49% stake in Jiangsu Ryan Electrical Co. Ltd. (Ryan), a manufacturer of power distribution and sub-transmission transformers in China with revenues of approximately $100 million in 2022. 
• In December 2022 – Fuji Electric Co., Ltd. announced that it has launched a switchgear for the global market that saves space and has a reduced footprint.

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More Valuable Insights Available:

Future Market Insights offers an unbiased analysis of the global load break switches market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

Key Segments Profiled:

By Type:

• Gas Insulated
• Vacuumed
• Air Insulated
• Oil-Immersed

By Voltage:

• Below 11kV,
• 11-33 kV,
• 33-60 kV)

By End-Use:

• Utilities
• Industrial
• Commercial

By Region:

• North American
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

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Table of Content (ToC):

1. Executive Summary | Load Break Switches Market

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

    3.2. Scenario Forecast

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

    3.6. Investment Feasibility Matrix

    3.7. Value Chain Analysis

    3.8. PESTLE and Porter’s Analysis

    3.9. Regulatory Landscape

    3.10. Regional Parent Market Outlook

    3.11. Production and Consumption Statistics

    3.12. Import and Export Statistics

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022

    4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Type, 2018 to 2022

    5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Type, 2023 to 2033

    5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022

    5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033

6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Voltage

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Voltage, 2018 to 2022

    6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Voltage, 2023 to 2033

    6.4. Y-o-Y Growth Trend Analysis By Voltage, 2018 to 2022

    6.5. Absolute $ Opportunity Analysis By Voltage, 2023 to 2033

Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-17436

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