Load Break Switch Market Research Report – Forecast to 2030

Load Break Switch Market Research Report by Type (Gas-Insulated, Vacuum-Insulated, Air-Insulated, Oil-Immersed), by Voltage Type (Below 11 KV, 11–33 KV, 33–60 KV), Installation Type (Outdoor, Indoor), By End-User (Utilities, Commercial, Industrial), and by Region - Forecast till 2030

ID: MRFR/E&P/4433-HCR | November 2022 | Region: Global | 100 Pages         

Load Break Switch Market

Load Break Switch Market is expected to be valued at USD 5 Billion, with a CAGR of 5.25% Forecast by 2030

Segmentation

By Type Gas-Insulated Vacuum-Insulated Air-Insulated Oil-Immersed
By Voltage Type Below 11 KV 11–33 KV 33–60 KV
By Installation Type Outdoor Indoor
By End-Use Utilities Commercial Industrial

Key Players

  • ABB (Switzerland)
  • Eaton (Ireland)
  • Schneider (France)
  • GE (U.S.)
  • Siemens (Germany)
  • Socomec (France)
  • Rockwell Automation (U.S.)
  • Fuji Electric (Japan)
  • Powell Electric (U.S.)
  • Ensto (Finland)

Drivers

  • Increased application of gas-insulated segment in renewable energy power system projects
  • Increased implementation of outdoor segment in commercial and utility projects
Speak to Analyst Request a Free Sample

Load Break Switch Market is projected to witness ~ 5.25% CAGR during the forecast period 2022-2030.


Load Break Switch Market Scenario


The Load Break Switch Market is expected to grow at a significant rate during the forecast period. The global load break switch market was valued at USD 1.98 billion during the historic forecast period, and the market is expected to reach a steady growth rate during the forecast period. A load break switch is a disconnect switch that makes or breaks the electrical connection at particular preset current levels. A load break switch is typically used for switching and protection in medium voltage level systems. Load break switches are devices that allow specific types of current to be sent or stopped. This ensures the electricity system's safety and protects the grid from outages.


One of the most important characteristics of electric power is that it must be used in real-time. Even if energy storage is used, the electricity generated must still be transported to a central system for use. For effective power transmission, distributed power must comply with grid transmission requirements and frequency to avoid grid interference. Load break switches, for example, are critical for the smooth enabling of power transfer.


One of the main attributes of electricity power is that the power generated has to be utilized on a real-time basis. Even with energy storage, power generated still must be transmitted through a central grid for utilization. For effective transmission of power, it is necessary that the distributed power must be in line with the grid transmission specifications and frequency so that it doesn’t impact the grid. For smooth enabling of power transmission components such as load break switches play a crucial role.


Load Break Switch Market Key Players


The key players of the global Load Break Switch market are ABB (Switzerland), Eaton (Ireland), Schneider (France), GE (U.S.), Siemens (Germany), Socomec (France), Rockwell Automation (U.S.), Fuji Electric (Japan), Powell Electric (U.S.), and Ensto (Finland).


Industry News


ABB Ltd. is a multinational corporation based in Zurich, Switzerland, and is a well-known digital firm that specializes in power and automation. Power systems, power products, process automation, discrete automation and motion, and low voltage products are the company's primary operating business segments. Because of their demonstrated reputation for durability, performance, and long life, load break switches have a significant market share. This company operates in more than 100 countries throughout the world.


Schneider Electric is a company based in Rueil-Malmaison, France, and is a major player in energy management and automation's digital transformation. The company operates in over 100 countries and has established itself as a major player in the power management and automation systems industries. Circuit breakers, buses, enclosures, panel boards, switchboards, and other low voltage products are among the company's offerings.


Load Break Switch Market Segmentation


 load break switch market


Load break switches are devices that are designed to enable transmission or stoppage of specific types of current. This enables safe operations of the power system and protects the grid from blackouts. The global Load Break Switch Market has been segmented based on type, voltage type, installation type, end-use industries, and region. Based on type, the load break switch is further classified into gas-insulated, vacuum-insulated, air-insulated, and oil-immersed types. As per the study conducted by MRFR, the gas-insulated segment is projected to command a major share of the market because of its increased application in renewable energy power system projects. Furthermore, the gas-insulated type is gaining increased popularity, owing to its ease of maintenance and longer life cycles. With countries focusing on large-scale renewable energy projects, globally, the gas-insulated type is expected to command a larger market share among the different types of load break switches. Based on installation type, it is projected that the outdoor segment is expected to command a larger share of the market, owing to its increased implementation in commercial and utility projects. The residential sector is, moreover, witnessing a gradual growth, owing to multiple distributed grid and smart grid projects in the European and North American region. Load break switches are now manufactured with flexible mounting and installation options, which is further expected to boost the market. Based on region, the Load Break Switch Market was formerly dominated by North America and Europe as these regions had increased emphasis on safety and providing grid connectivity to the remote locations.


Global Load Break Switch Market Regional Analysis


The Asia Pacific region is expected to dominate the market for global load break switches. With major power generation projects and grid upgrade projects being implemented in countries such as China, India, and Indonesia, the market is projected to grow rapidly in the region. With remote grid access being another major agenda in these countries, remote power generations projects also contribute to the growth of the markets. The market is expected to witness a huge opportunity through the digitization of the utility sector. The Europe region is expected to command the second largest market share with major countries in the region focusing on grid upgrade projects.



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   5.25% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Voltage Type, Installation Type and End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   ABB (Switzerland), Eaton (Ireland), Schneider (France), GE (U.S.), Siemens (Germany), Socomec (France), Rockwell Automation (U.S.), Fuji Electric (Japan), Powell Electric (U.S.), and Ensto (Finland)
  Key Market Opportunities

  • Need for increased access to power for enabling the growth of an economy
  • Major power generation projects and grid upgrade projects
  •   Key Market Drivers

  • Increased application of gas-insulated segment in renewable energy power system projects
  • Increased implementation of outdoor segment in commercial and utility projects


  • Speak to Analyst Ask for Customization

    Frequently Asked Questions (FAQ) :

    The load break switch market can surge at 5.25% CAGR by 2030.

    By 2023, the load break switch market can surpass a valuation of USD 1 Bn.

    Socomec (France), Fuji Electric (Japan), Rockwell Automation (U.S.), Ensto (Finland), and Powell Electric (U.S.), are some reputed companies of the load break switch market.

    The high number of installations of gas-insulation load break switch can boost the global market of load break switch.

    The launch of numerous power generation projects can cause the load break switch market in APAC to surge.