ID: MRFR/E&P/0465-HCR | 185 Pages | Published By Priya Nagrale on April 2023
Disconnect Switch Market is projected to be worth USD 19,991 Million by 2030, registering a CAGR of 5.8% during the forecast period (2022-2030)
The Disconnect Switches Market is projected to reach USD 19,991 Million by 2030, growing at a CAGR of 5.8% from 2022 to 2030. In order to perform repairs and maintenance, a disconnect switch is a part of an electric circuit that is used to isolate the current from its power source. The center-break, double-break, pantograph, vertical, and horizontal disconnectors are typical disconnector types. They interrupt the flow of electricity to allow for emergency shutdowns and provide the option of switching to different power sources. Disconnect switches have an actuator, an enclosure, and wired electrical contacts to prevent contact with live circuits. These switches are frequently used in industrial and power distribution applications.
The growing distribution and transmission networks are a significant factor driving the worldwide disconnect switch industry. The demand for disconnect switches in emerging nations is also rising due to an increase in infrastructure initiatives. The expanding use of low-voltage disconnectors and non-contact safety switches in the transportation, railway, aviation, power production, and telecommunications sectors is also creating a good picture for the industry. Disconnect switches are also used in conveyor systems, industrial power systems, assembly lines, and material handling equipment to reduce workplace risks, which is further fueling market expansion.
The COVID-19 epidemic has badly hit the market's whole supply chain. The suspension of activities in the production and end-use sectors has impacted it. The pandemic has had an impact on the industry's overall growth. The COVID-19 pandemic's sudden emergence in 2020 and the beginning of 2021 prompted the adoption of strict lockdown laws in many countries, disrupting the import and export of safety disconnect switches.
These are of the main factors influencing the market's growth is rapid industrialization, which is occurring alongside widespread infrastructural development worldwide. The market is growing owing to the rising demand for effective systems for power transmission, generation, and distribution. Disconnect switches are utilized in heavy manufacturing, transmission lines, substations, and industrial power systems. Another factor driving growth is the increasing awareness of how critical it is to preserve worker safety in the manufacturing and electronics sectors. To reduce workplace dangers, assembly lines, material handling equipment, and conveyor systems frequently incorporate safety sensors and disconnect switches. The market is also being driven by other factors, like rising investments to upgrade the deteriorating transmission and distribution infrastructure. The US will need to invest USD 2.1 trillion by 2035 to upgrade its grid infrastructure, which would include adding 579 GW of new producing capacity and extensively renovating the transmission network. In addition, the India Brand Equity Foundation (IBEF) reports that the country's infrastructure sector saw 91 merger and acquisition transactions totaling USD 5.4 million in 2017 and has a requirement for USD 777.73 billion in infrastructure investment by 2022, which will increase demand for an effective power system and consequently increase demand for disconnect switches and other electrical components.
Considering electric power is a necessary infrastructure component for developing and developed regions, every region is attempting to extend its power system, which is the main trend driving the rise of disconnect switches. The disconnect/isolator switch market is expanding rapidly worldwide due to several causes, including the rapid rise of urbanization and industrialization worldwide as well as an increase in industrialists' concerns about the safety of their laborers and workers.
Despite having several benefits, the worldwide disconnect switch market is being constrained by several reasons, including the fluctuating cost of the raw materials required to make the disconnect switches and the availability of low-quality, inexpensive goods made by other manufacturers. Another major obstacle to the adoption of SF6 circuit breaker technology is the high cost of the products. The SF6 circuit breaker products are assembled with a little silver and gold to improve the product's efficiency, which drives up the cost of the final product.
Leading businesses are working to create cutting-edge solutions with improved safety and protection; these solutions are anticipated to drive the disconnect switch market ly. For example, in 2021, The Powerswitch Safety Disconnect Switch with InformTM Technology was introduced by Leviton. The launch comprised 30/32 Amp non-metallic safety disconnect switches with industry-only remote monitoring capability. In order to deliver dependable and safe performance in a variety of hazardous and harsh area applications in the oil and gas, chemical, petrochemical, and heavy industries, Eaton supplies Crouse-Hinds series CEAG GHG25 safety switches and switch disconnectors.
The disconnect switches market segmentation, based on type, is fused and non-fused. The disconnect switches market growth was prominently high under the non-fused category in 2021. This is due to the fact that a non-fused disconnect switch is utilized without the need for additional fuse protection, making it more desirable and contributing to its greater market penetration.
The disconnect switches market segmentation, based on the mount, is panel mounted, DIN rail mounted, and others. In 2021, panel mounted accounted for the largest market share of the market. There are mounting accessories available for panel installations with expanded door interlocks. Various uses for manual disconnect switches include across-the-line manual motor controllers and general-purpose disconnects.
Based on voltage, the market is divided into low, medium, and high. The silicone low voltage dominated the market for contact lenses in 2021 since distribution, infrastructure, solar, light commercial, and light manufacturing sectors typically employ disconnect switches in this price range.
By application, the market has been segmented into industrial and commercial. In 2021 the industrial category had a major share of the market. Disconnect switches are required by the National Electrical Code (NEC), which was established by the National Fire Protection Association, in all manufacturing and industrial establishments.
By region, the disconnect switches market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. Europe will exhibit the highest CAGR during the forecast period.
North America dominated the market share in 2021 due to significant investments in electrical system safety equipment and growing safety concerns. The nations are making investments in enhancing the safety of transmission and distribution networks and installing safety gear in the residential and commercial sectors, creating a profitable market for disconnect switches.
Asia Pacific accounted for the second-largest market share in the market in 2021. The region's developing nations are anticipated to provide a lucrative market for the expansion of the disconnect switch. High demand for power from businesses and industrial buildings, aging transmission and distribution network equipment replacement, and increased safety standards.
The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach with diverse product portfolios. Companies such as Abengoa Solar SA (Spain), Acciona Energy (Spain), GE Renewable Energy (France), TSK Flagsol Engineering GmbH (Germany) dominate the market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are concentrating on supporting research and development. Furthermore, they embrace strategic growth initiatives, such as development, product introduction, joint ventures, and partnerships, to strengthen their market position and capture an extensive customer base.
Prominent players in the disconnect switches market research include Abengoa Solar SA (Spain), Acciona Energy (Spain), GE Renewable Energy (France), TSK Flagsol Engineering GmbH (Germany), Enel Green Power (Italy), BrightSource Energy (US), Atlantica Yield PLC (UK), eSolar Inc. (US), SolarReserve (US), ACWA Power (Saudi Arabia), Chiyoda Corporation (Japan), Allen (Morocco) among others.
The objectives of the study are summarized in 5 stages. They are as mentioned below:
To identify and estimate the market size for the disconnect switches market report segmented by type, mount, voltage, and application by value (in US dollars). Also, to understand the consumption/ demand created by consumers in disconnect switches market forecast between 2022 and 2030
To identify and infer the drivers, restraints, opportunities, and challenges disconnect switches market growth
To find out the factors which are affecting the disconnect switches market size among consumers
To identify and understand the various factors involved in the market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
|Disconnect Switches Market Size||2030: USD 19,991 Million|
|(CAGR)||5.8% CAGR (2022-2030)|
|Disconnect Switches Market Forecast Period||2022-2030|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Mount, Voltage, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and the Rest of the World (RoW)|
|Key Vendors||Abengoa Solar SA (Spain), Acciona Energy (Spain), GE Renewable Energy (France), TSK Flagsol Engineering GmbH (Germany), Enel Green Power (Italy), BrightSource Energy (US), Atlantica Yield PLC (UK), eSolar Inc. (US), SolarReserve (US), ACWA Power (Saudi Arabia), Chiyoda Corporation (Japan), Allen (Morocco)|
|Key Market Opportunities||Leading businesses' innovative solutions offer greater protection|
|Key Market Drivers||Industrialists' growing concerns about safety|
The disconnect switches market forecast period is 2022 - 2030
The market is expected to register a CAGR of 5.8% during forecast period, according to the disconnect switches market research.
Asia Pacific is expected to register the highest CAGR during 2022 - 2030
North America held the largest share in 2021
The market size is expected to be USD 19,991 Million by 2030.
Abengoa Solar SA (Spain), Acciona Energy (Spain), GE Renewable Energy (France), TSK Flagsol Engineering GmbH (Germany), Enel Green Power (Italy), BrightSource Energy (US), Atlantica Yield PLC (UK), eSolar Inc. (US), SolarReserve (US), ACWA Power (Saudi Arabia), Chiyoda Corporation (Japan), Allen (Morocco) among others are the major companies operating in the market.