Increasing Worldwide Transmission and Distribution Along With Growing Safety Concerns Propel the Growth of Low Voltage Disconnect Switch Market
The Low Voltage Disconnect Switch is used for a variety of purposes, such as to manage a distribution network, to interrupt power during maintenance, for shifting load across the network, and to prevent a loss by turning off if a safety threat arises.
The Low Voltage Disconnect Switch Market is expected to grow from an Estimated USD 2.81 Billion in 2016 To USD 3.51 Billion by 2021 At a CAGR Of 4.5%.
The Growing Worldwide Transmission and Distribution, growing infrastructural and industrial developmental activities, along with growing safety concerns would propel the market for low voltage disconnect switches. These factors are expected to drive the growth of the low voltage disconnect switch market.
• High Economic Growth and Rapid Urbanization
• Growing Investment in Industrial Automation
• Aging Transmission & Distribution Infrastructure
• Increase in the Demand of Photovoltaic Systems
The demand for electricity is increasing in developed nations in North America and Europe as well as in fast-growing economies in the Asia-Pacific. Generation, transmission, and distribution are increasing at a good pace which has led to the growth in sales of associated components, such as switchgear, circuit breakers and disconnect switches. The market for low voltage disconnect switches is growing at a healthy rate especially in developing countries, where the transmission and distribution industry is in the growth stage.