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Load Break Switches Market Trends

  • Report ID: GMI9156
  • Published Date: Apr 2024
  • Report Format: PDF

Load Break Switches Market Trends

The increasing integration of smart grid technologies such as digital monitoring, automation, and communication capabilities into power distribution networks is driving the demand for Load Break Switches with advanced features. Smart grid technologies enable utilities to enhance grid reliability, optimize asset management, and improve operational efficiency, leading to a greater need for intelligent switching solutions that can support these functionalities. There is a growing emphasis on sustainability and environmental responsibility in the power sector, leading to increased demand for load break switches that are energy-efficient, environmentally friendly, and compliant with regulatory standards. Manufacturers are developing eco-friendly switch designs and materials, incorporating energy-saving features, and optimizing product lifecycles to minimize environmental impact and meet sustainability goals.
 

Trends such as the growing power generation sector, refurbishment of aging power infrastructure, and increased investment in the power distribution sector are expected to drive the load break switch market in the region. In December 2020, ABB launched a range of load switch switches broadly used for medium-voltage (MV) secondary switchgear, e.g., in-ring main unit (RMUs), assigned with the task of switching load currents. This SF6-freeload break switches for MV applications are available with Dry Air rated up to 12 kV and AirPlus for 24 kV. The load break switch paves the way for the environment friendly RMUs. Such investments by major players are also leading to the growth of load breaker switches applications in the region.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

Industry size for load break switches recorded over USD 2.5 billion in 2023 and is expected to depict over 5% CAGR from 2024 to 2032, due to the modernization of power grids, and the integration of renewable energy sources.

Air-insulated load break switches industry is estimated to register over 5% CAGR between 2024 and 2032, owing to their wide use in power distribution networks, substations, industrial facilities, and commercial buildings.

Asia Pacific industry accumulated over 35% revenue share in 2023 and is projected to witness substantial gains from 2024 to 2032, on account of the rapid urbanization, growing population and expanding urban areas.

ABB Ltd., Eaton Corporation PLC, Ensto Group, Fuji Electric Co., Ltd., G&W Electric Company, and Legrand SA are some of the leading load break switches companies worldwide.

Load Break Switches Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 275
  • Countries covered: 23
  • Pages: 230
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