According to a market report by Lucintel, the future of the global low voltage switchgear market looks promising with opportunities in the substation, distribution, power factor correction, sub distribution, and motor control markets. The global low voltage switchgear market is expected to reach an estimated $99.2 billion by 2030 with a CAGR of 6.1% from 2024 to 2030.
The major drivers for this market are growing demand for electricity,
renewable energy integration, and industrial automation.
In this market, fixed mounting, plug-in, and withdrawable unit are the
major segments of low voltage switchgear market by product type.
Lucintel forecasts that fixed mounting will remain the largest segment
due to its significant application in smart grids.
Within this market, substation is expected to witness highest growth over
the forecast period.
APAC will remain the largest region due to rapid economic growth and rising number of projects for refurbishment and upgradation of energy grid neworks in the region.
Schneider Electric, C&S Electric, ABB, Eaton, Milectria, Siemens, and
SPS are the major suppliers in the low voltage switchgear market.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email roy.almaguer@lucintel.com
Tel. 972.636.5056
Related Reports
1. Computer and Peripheral Connector Market
2. Multilayer Ceramic Capacitor Market
3. Semiconductor Wafer Cleaning Equipment Market
4. Printed Circuit Board Market
No comments:
Post a Comment