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Low Voltage Disconnect Switch Market Projected To 3.51 Billion USD By 2021

Jul 26, 2017

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 global low voltage disconnect switch market is projected to reach USD 3.51 Billion by 2021 from an estimated value of USD 2.81 Billion in 2016.

The growing worldwide transmission and distribution expenditure, 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.

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.