June 21, 2023 07:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
Valley Cottage, New York, UNITED STATES Load breaker switch
NEWARK, Del, June 21, 2023 (GLOBE NEWSWIRE) -- The global load break switches market size is likely to be valued at US$ 2.4 billion in 2023. The increasing application of load break switches in different industry verticals is driving the market growth. The market is estimated to garner US$ 4.1 billion in 2033, recording a CAGR of 5.4% from 2023 to 2033.
Increasing the application of load break switches in the utility and industrial sectors is expected to boost market sales in the forecast period. The growth of the load break power switches market is due to the increasing investment in the power distribution industry and increased focus on renewable energy generation.
Increased demand for renewable power generation and growing investment in the power distribution sector are likely to provide opportunities for load break switches during the forecast period.
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Increasing focus on energy efficiency, driven by environmental concerns and the need to reduce energy costs is driving the demand for load break switches as they help to improve the efficiency of power distribution networks. Increasing applications in the commercial sectors have created opportunities for market growth.
The demand for load break switches in the utility sector is expected to increase during the forecast period due to the increasing investment by electric utilities toward guarding and maintaining existing electrical infrastructure. The demand for gas-insulated load break switches is high in the utility sector owing to their ability to safely handle the requirement of the utility sector.
The Asia-Pacific region is expected to dominate the load break switch market during the forecast period, followed by North America and Europe. The demand for load break switches increases in North America owing to the growing electricity demand the need for a reliable power supply, and government initiatives to upgrade the power distribution infrastructure.
Prominent players in the load break switches market are ABB Ltd.; Eaton Corporation PLC; Fuji Electric Co., Ltd.; Legrand SA; Powell Industries, Inc., among others. Some notable developments are as follows:
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Future Market Insights offers an unbiased analysis of the global load break switches market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
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1. Executive Summary | Load Break Switches Market
3.8. PESTLE and Porter’s Analysis
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Type, 2023 to 2033
5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Voltage
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Voltage, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Voltage, 2023 to 2033
6.4. Y-o-Y Growth Trend Analysis By Voltage, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Voltage, 2023 to 2033
Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-17436
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