The industry is projected to surge significant growth owing to the user-friendly nature and safety protocols of these switches. Ongoing construction activities in emerging economies along with increasing need for electrical control panels will drive the industry landscape. Ongoing growth in commercial construction, including new office buildings and retail spaces in line with robust expansion of electrical infrastructure projects will accelerate the business outlook. Moreover, growing emphasis on workplace safety and compliance with electrical safety standards will in turn will augment the deployment of panel mounted disconnect switch.
Authors:
Ankit Gupta, Saurabh Singh
Frequently Asked Questions (FAQ) :
The market size of commercial panel mounted disconnect switch was worth over USD 864.5 million in 2023 and is expected to register 6.6% CAGR from 2024 to 2032, owing to increasing demand for reliable and efficient electrical equipment along with stringent safety standards & codes worldwide.
Commercial panel mounted disconnect switch industry from the high voltage segment is projected to surpass USD 700 million by 2032, due to integration of smart technological systems, rising safety requirements, and the continuous utilization of energy consumption.
Asia Pacific commercial panel mounted disconnect switch industry is expected to reach over USD 500 million by 2032, due to rapid urbanization growth particularly in construction of commercial buildings in the region.
ABB, Eaton, Honeywell International Inc., Littelfuse, Inc., LOVATO ELECTRIC, MERSEN EP, Richards Manufacturing Co., Rockwell Automation, Salzer, Schneider Electric, Siemens, SOCOMEC, and WEG, are some of the major commercial panel mounted disconnect switch companies worldwide.