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Panel Mounted Industrial Disconnect Switch Market Size

Report ID: GMI11765
Published Date: Oct 2024
Report Format: PDF

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Panel Mounted Industrial Disconnect Switch Market Size

The global panel mounted industrial disconnect switch market was valued at USD 7.2 billion in 2023 and is estimated to grow at a CAGR of 6.3% from 2024 to 2032. Rising demand for reliable electrical equipment and stricter safety regulations are driving product adoption. The growing use of automation in industrial facilities coupled with the need for effective control panels will further boost industry growth.

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A panel mounted industrial disconnect switch is an electrical device installed within an industrial control panel or distribution board to safely isolate electrical equipment from the power supply. The adoption of smart disconnect switches with IoT integration for real-time monitoring and remote control is driving business growth. Rapid urbanization and industrialization in key geographies combined with a focus on reducing energy consumption and enhancing operational efficiency will accelerate the deployment of disconnect switches.

Panel Mounted Industrial Disconnect Switch Market Report Attributes
Report Attribute	Details
Base Year:	2023
Panel Mounted Industrial Disconnect Switch Market Size in 2023:	USD 7.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.3%
2032 Value Projection:	USD 12.7 Billion
Historical Data for:	2021 - 2023
No. of Pages:	125
Tables, Charts & Figures:	40
Segments covered:	Voltage, Product, and Region
Growth Drivers:	Increasing demand for electricity & power safety Increasing industrial automation & ongoing expansion of infrastructure projects Implementation of stringent safety regulations
Pitfalls & Challenges:	Ongoing technological advancements

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Authors: Ankit Gupta, Saurabh Singh

Frequently Asked Questions (FAQ) :

The global market for panel-mounted industrial disconnect switches was crossed USD 7.2 billion in 2023 and is projected to grow at a CAGR of 6.3% from 2024 to 2032, driven by the increasing demand for reliable electrical equipment and the implementation of stricter safety regulations.

The high-voltage segment of the panel-mounted industrial disconnect switch market is expected to surpass USD 6 billion by 2032, propelled by the rising need for isolation equipment and reliable protection solutions.

The non-fused panel-mounted industrial disconnect switch segment is anticipated to grow at a CAGR of over 6% through 2032, on account of modernization of industrial facilities in tandem with adoption of advanced electrical systems.

The U.S. market for panel-mounted industrial disconnect switches is projected to exceed USD 2.5 billion by 2032, attributed to stringent safety regulations that are driving the adoption of efficient, compact, and advanced fused disconnect switches.

Some of the major players in the panel-mounted industrial disconnect switch industry include ABB, Eaton, Siemens, Schneider Electric, Emerson Electric, Rockwell Automation, General Electric, and WEG, c3controls, Havells India, Socomec, and Hubbell.