Load Break Switch: Global Market Report (2018-2023) Projected to Grow at a CAGR of 6.16% to Reach $3.12 Billion

DUBLIN, April 12, 2018 /PRNewswire/ --

The "Load Break Switch Market by Type (Gas-Insulated, Vacuum, Air-Insulated, & Oil-Immersed), Voltage (Below 11 kV, 11-33 kV, 33-60 kV), Installation (Outdoor & Indoor), End-User (Utilities, Industrial, Commercial), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global load break switch market is estimated to be USD 2.32 Billion in 2018 and is projected to grow at a CAGR of 6.16%, from 2018 to 2023, to reach a market size of USD 3.12 Billion by 2023.

The refurbishment of aging electrical infrastructure and increasing investment in power distribution sector have boosted the demand for load break switches. Also, the growing renewable-based power generation would further aid the growth of this market. The slowdown in the oil & gas sector would act as a restraint for the load break switch market.

The 11-33 kV segment is expected to be the fastest growing load break switch market, by voltage, from 2018 to 2023. It is considered to be the ideal voltage range for load break switches. These switches find application in the overhead power distribution network in utilities, manufacturing & process industries, and commercial facilities. Application-based demand is high for this particular voltage range, resulting in the higher market share of 11-33 kV load break switches. The demand for 11-33 kV load break switches is also driven by the increasing power demand in developing countries such as India, China, and Japan.

The utilities segment is estimated to be the largest market for load break switches in 2018. The market for the utilities segment is driven by the investments being made by electric utilities on refurbishing their existing electrical infrastructure to avoid power failures and deterioration of the existing electrical infrastructure.

Asia Pacific is expected to be the largest market for load break switch in 2018, followed by North America and Europe. China and Japan are expected to be the largest markets for load break switches in the region.

The load break switch market is also growing at a good pace in countries such as India, Australia, and South Korea. These factors are expected to boost the growth of the load break switch market in Asia Pacific.

The leading players in the load break switch market include GE (US), Eaton (Ireland), Schneider (France), Siemens (Germany), and ABB (Switzerland).

Market Dynamics

Drivers

• Refurbishment of Aging Power Infrastructure
• Increasing Investment in the Power Distribution Sector

Restraints

• Slowdown in Global Oil & Gas Sector

Opportunities

• Digitalization of Utilities

Challenges

• Availability of Counterfeit Products
• Availability of Substitutes Such as Vacuum Circuit Breaker

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Load Break Switch Market, by Type

7 Load Break Switch Market, by Voltage

8 Load Break Switch Market, by Installation

9 Load Break Switch Market, by End-User

10 Load Break Switch Market, by Region

11 Competitive Landscape

12 Company Profiles

• ABB
• Benchmarking
• Eaton
• Ensto
• Fuji
• GE
• LSIS
• Lucy Electric
• Powell
• Rockwell
• Schneider
• Siemens
• Socomec

For more information about this report visit https://www.researchandmarkets.com/research/68qgrx/load_break?w=5

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SOURCE Research and Markets