Fixed Mounted LV Switchgear Market Size

Fixed Mounted LV Switchgear Market was valued at USD 36.4 billion in 2023 and is estimated to register over 7.5% CAGR between 2024 and 2032, due to rising demand for efficient transmission and distribution (T&D) control systems. This growth is driven by increasing requests for the upgrade and refurbishment of existing energy networks, alongside heightened investments in establishing reliable, efficient, and enhanced grid infrastructures.

Significant investments have been made in IT implementations across the energy industry, with key players prioritizing capacity expansion within their respective segments. However, there is a noticeable shift in this trend, as attention gradually turns towards providing interactive and smart services tailored to consumer demand.

COVID-19 Impact

The fixed mounted low voltage switchgear industry is poised for rapid expansion, driven by continuous government initiatives aimed at offering sustainable power solutions. The ambitious plans to integrate grid infrastructure with efficient power systems further bolster growth prospects for the sector. However, the growing need for renovating and replacing aging electrical components, combined with substantial investments directed towards modernizing grid networks, will enhance the business outlook for the sector.

Fixed Mounted LV Switchgear Market Trends

Economies characterized by sustainable population growth, higher income levels, and increased electricity consumption are driving the expansion of smart grid networks. The swift adoption of smart devices is contributing to the acceptance of advancing smart transmission and distribution technologies globally. Countries facing frequent electricity deficits are expected to experience heightened demand for smart monitoring and control technologies. Additionally, the growing concern to manage intermittency arising from the expanded utilization of solar power worldwide will positively impact the deployment of smart grids.

Fixed Mounted LV Switchgear Market Analysis

Learn more about the key segments shaping this market

Download Free Sample

The AC segment held approximately 59% of the market share in 2023. The demand for AC current units within the LV switchgear industry is poised for significant growth due to several key product attributes. These include reduced heat generation, lower transmission losses, as well as flexible and efficient high-voltage capabilities. Additionally, the ease of handling, excellent conductivity, and simplified transformation properties will contribute to bolstering the business outlook for AC current units in the industry.

Learn more about the key segments shaping this market

Download Free Sample

Based on application, the substation segment will grow at a CAGR of over 6.7% through 2032. There is a growing trend towards digitalization and automation in LV switchgear systems. This includes the integration of smart technologies, such as sensors and IoT devices, to enable remote monitoring, diagnostics, and predictive maintenance. Manufacturers are developing more energy-efficient components and systems to meet regulatory requirements and reduce operational costs for end-users.

Looking for region specific data?

Download Free Sample

The Asia Pacific fixed mounted LV switchgear market is forecasted to exceed USD 29 billion by 2032, due to poor electrical supply stemming from an ineffective grid network. For instance, in 2022, Hokkaido blackout caused by an earthquake and the 2016 South Australian blackout resulting from severe storms underscore the importance of grid stability and security. The regional power sector is experiencing increased focus and investment from both public and private entities, supported by favorable regulatory schemes in recent years. Additionally, the integration of renewable technologies into the grid and the ongoing expansion of cross-border transmission networks will further enhance the business outlook positively.

Fixed Mounted LV Switchgear Market Share

Siemens holds a significant stake in the fixed mounted low voltage switchgear market, known for its extensive expertise in manufacturing and engineering various switchgear type, including gas insulated switchgear, fixed mounted LV switchgears, high voltage switchgear, among others. With a strong history deeply ingrained in the electrical equipment sector, the company has provided switchgear solutions across a wide range of applications, covering substation, distribution, sub distribution, and others.

Fixed Mounted LV Switchgear Market Companies

Notable players operating across the fixed mounted LV switchgear industry are:

• ABB
• Chint Group
• E + I Engineering
• Eaton
• Fuji Electric Co., Ltd.
• Hitachi Energy Ltd.
• Hyosung Heavy Industries
• Hyundai Electric & Energy Systems Co., Ltd.
• Lucy Group Ltd.
• Mitsubishi Electric Corporation
• Powell Industries
• Regal Rexnord Corporation
• Schneider Electric
• Siemens
• Skema S.p.A.
  

Fixed Mounted LV Switchgear Industry News

• In January 2022, ABB presented its switchgear solutions, featuring PrimeGear and NeoGear, showcasing its proficiency in automating, digitalizing, and electrifying the oil and gas sector. Through this exhibition, the company leveraged the opportunity to introduce its cutting-edge technological products to consumers, thereby reinforcing its customer base in the fixed mounted low voltage switchgear market across the Middle East.
  
• In September 2021, Eaton has collaborated with Electrotrade Industries, serving as a distributor, to introduce xEnergy low voltage switchgear solutions in the Philippines. This product can be utilized in diverse configurations to improve safety, enhance performance, and conserve space. The solution provides a broad selection of removable, fixed, and withdrawable configurations tailored for motor control and power distribution applications.
  

This fixed mounted LV switchgear market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in ‘000 Units and USD Million from 2019 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Voltage Rating

• ≤ 250 Volts
• > 250 Volts to ≤ 750 Volts
• > 750 Volts

Market, By Current

• AC
• DC

Market, By Application

• Substation
• Distribution
• Power Factor Correction
• Sub Distribution
• Motor Control

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Spain
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina