Summary

The global low voltage switchgear market size reached US$ 53.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 92.7 Billion by 2032, exhibiting a growth rate (CAGR) of 6.11% during 2024-2032. The growing demand for electricity, the increasing product adoption in electrical distribution systems, rapid technological innovations, increasing infrastructure development projects, and extensive research and development (R&D) activities are some of the key factors driving the market.

Low voltage (LV) switchgear refers to the electrical equipment used to control, protect, and distribute electrical power in low-voltage systems. It consists of a combination of circuit breakers, fuses, switches, and other protective devices that are housed in a metal enclosure. It is commonly used in industrial and commercial applications to distribute power to various loads and equipment. LV switchgear helps to isolate faulty equipment, protect against overloads, and control the flow of electrical power. It is a highly reliable component that also protects from electrical shock and reduces the risk of short circuits or faults. As a result, it finds extensive applications across the substation, distribution, power factor correction, sub-distribution and motor control facilities.

Low Voltage Switchgear Market Trends:
The growing demand for electricity across the globe is one of the key factors creating a positive outlook for the market. LV switchgear is widely used as an essential component in electrical distribution systems to ensure the safe and reliable supply of electricity to residential, commercial, and industrial consumers. Moreover, the widespread product utilization of renewable energy sources, such as solar and wind power, to provide the connection, control, and distribution of power generated from renewable sources is propelling the market growth. Additionally, the rising inclination toward upgrading aging infrastructure to ensure reliable and safe operation is acting as another growth-inducing factor. Apart from this, the integration of digital technologies and smart features in LV switchgear that offer advanced monitoring, control, and communication capabilities, allowing for real-time data analysis, remote operation, and predictive maintenance, is providing an impetus to the market growth. Furthermore, the growing infrastructure development projects, such as the construction of residential buildings, commercial complexes, data centers, hospitals, and transportation networks, that require reliable electrical infrastructure is contributing to the market growth. Other factors, including the implementation of various government initiatives to promote the use of reliable and safe electrical systems, increasing focus on developing smart cities with advanced infrastructure and sustainable energy systems, and growing digitization, are supporting the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global low voltage switchgear market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on product type, voltage rating, installation, and application.

Product Type Insights:

Fixed Mounting
Plug-In
Withdrawable Unit

The report has provided a detailed breakup and analysis of the low voltage switchgear market based on the product type. This includes fixed mounting, plug-in, and withdrawable unit. According to the report, fixed mounting represented the largest segment.

Voltage Rating Insights:

Less than 250V
250V to 750V
751V to 1000V

The report has provided a detailed breakup and analysis of the low voltage switchgear market based on the voltage rating. This includes less than 250V, 250V to 750V, and 751V to 1000V.

Installation Insights:

Indoor
Outdoor

The report has provided a detailed breakup and analysis of the low voltage switchgear market based on the installation. This includes indoor and outdoor.

Application Insights:

Substation
Distribution
Power Factor Correction
Sub-Distribution
Motor Control

The report has provided a detailed breakup and analysis of the low voltage switchgear market based on the application. This includes substation, distribution, power factor correction, sub-distribution, and motor control.

Regional Insights:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for low voltage switchgear. Some of the factors driving the Asia Pacific low voltage switchgear market included the increasing infrastructure development projects, various technological advancements, and growing electricity demand in the region.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global low voltage switchgear market. Detailed profiles of all major companies have been provided. Some of the companies covered include ABB Ltd, Alfanar Group, Chint Group Co. Ltd., Eaton Corporation plc, Fuji Electric Co. Ltd., General Electric Company, Hyosung Corporation, Larsen & Toubro Ltd, Mitsubishi Electric Corporation, Rittal GmbH & Co. KG, Schneider Electric SE, Siemens AG, Terasaki Electric Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:
How has the global low voltage switchgear market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global low voltage switchgear market?
What is the impact of each driver, restraint, and opportunity on the global low voltage switchgear market?
What are the key regional markets?
Which countries represent the most attractive low voltage switchgear market?
What is the breakup of the market based on the product type?
Which is the most attractive product type in the low voltage switchgear market?
What is the breakup of the market based on the voltage rating?
Which is the most attractive voltage rating in the low voltage switchgear market?
What is the breakup of the market based on the installation?
Which is the most attractive installation in the low voltage switchgear market?
What is the breakup of the market based on the application?
Which is the most attractive application in the low voltage switchgear market?
What is the competitive structure of the global low voltage switchgear market?
Who are the key players/companies in the global low voltage switchgear market?

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Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Low Voltage Switchgear Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
6.1 Fixed Mounting
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Plug-In
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Withdrawable Unit
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Voltage Rating
7.1 Less than 250V
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 250V to 750V
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 751V to 1000V
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Installation
8.1 Indoor
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Outdoor
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Application
9.1 Substation
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Distribution
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Power Factor Correction
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Sub-Distribution
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Motor Control
9.5.1 Market Trends
9.5.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 Drivers, Restraints, and Opportunities
11.1 Overview
11.2 Drivers
11.3 Restraints
11.4 Opportunities
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 ABB Ltd
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.1.4 SWOT Analysis
15.3.2 Alfanar Group
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 Chint Group Co. Ltd.
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.4 Eaton Corporation plc
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.4.4 SWOT Analysis
15.3.5 Fuji Electric Co. Ltd.
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 General Electric Company
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.6.4 SWOT Analysis
15.3.7 Hyosung Corporation
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.7.4 SWOT Analysis
15.3.8 Larsen & Toubro Ltd
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.8.4 SWOT Analysis
15.3.9 Mitsubishi Electric Corporation
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 Rittal GmbH & Co. KG
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.11 Schneider Electric SE
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 Financials
15.3.11.4 SWOT Analysis
15.3.12 Siemens AG
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
15.3.12.3 Financials
15.3.12.4 SWOT Analysis
15.3.13 Terasaki Electric Co. Ltd.
15.3.13.1 Company Overview
15.3.13.2 Product Portfolio
15.3.13.3 Financials
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

List of Figures

Figure 1: Global: Low Voltage Switchgear Market: Major Drivers and Challenges
Figure 2: Global: Low Voltage Switchgear Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Low Voltage Switchgear Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Low Voltage Switchgear Market: Breakup by Product Type (in %), 2023
Figure 5: Global: Low Voltage Switchgear Market: Breakup by Voltage Rating (in %), 2023
Figure 6: Global: Low Voltage Switchgear Market: Breakup by Installation (in %), 2023
Figure 7: Global: Low Voltage Switchgear Market: Breakup by Application (in %), 2023
Figure 8: Global: Low Voltage Switchgear Market: Breakup by Region (in %), 2023
Figure 9: Global: Low Voltage Switchgear (Fixed Mounting) Market: Sales Value (in Million US$), 2018 & 2023
Figure 10: Global: Low Voltage Switchgear (Fixed Mounting) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 11: Global: Low Voltage Switchgear (Plug-In) Market: Sales Value (in Million US$), 2018 & 2023
Figure 12: Global: Low Voltage Switchgear (Plug-In) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 13: Global: Low Voltage Switchgear (Withdrawable Unit) Market: Sales Value (in Million US$), 2018 & 2023
Figure 14: Global: Low Voltage Switchgear (Withdrawable Unit) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 15: Global: Low Voltage Switchgear (Less than 250V) Market: Sales Value (in Million US$), 2018 & 2023
Figure 16: Global: Low Voltage Switchgear (Less than 250V) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 17: Global: Low Voltage Switchgear (250V to 750V) Market: Sales Value (in Million US$), 2018 & 2023
Figure 18: Global: Low Voltage Switchgear (250V to 750V) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 19: Global: Low Voltage Switchgear (751V to 1000V) Market: Sales Value (in Million US$), 2018 & 2023
Figure 20: Global: Low Voltage Switchgear (751V to 1000V) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 21: Global: Low Voltage Switchgear (Indoor) Market: Sales Value (in Million US$), 2018 & 2023
Figure 22: Global: Low Voltage Switchgear (Indoor) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 23: Global: Low Voltage Switchgear (Outdoor) Market: Sales Value (in Million US$), 2018 & 2023
Figure 24: Global: Low Voltage Switchgear (Outdoor) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 25: Global: Low Voltage Switchgear (Substation) Market: Sales Value (in Million US$), 2018 & 2023
Figure 26: Global: Low Voltage Switchgear (Substation) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 27: Global: Low Voltage Switchgear (Distribution) Market: Sales Value (in Million US$), 2018 & 2023
Figure 28: Global: Low Voltage Switchgear (Distribution) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 29: Global: Low Voltage Switchgear (Power Factor Correction) Market: Sales Value (in Million US$), 2018 & 2023
Figure 30: Global: Low Voltage Switchgear (Power Factor Correction) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 31: Global: Low Voltage Switchgear (Sub-Distribution) Market: Sales Value (in Million US$), 2018 & 2023
Figure 32: Global: Low Voltage Switchgear (Sub-Distribution) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 33: Global: Low Voltage Switchgear (Motor Control) Market: Sales Value (in Million US$), 2018 & 2023
Figure 34: Global: Low Voltage Switchgear (Motor Control) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 35: North America: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 36: North America: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: United States: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: United States: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 39: Canada: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 40: Canada: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 41: Asia-Pacific: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 42: Asia-Pacific: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 43: China: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 44: China: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 45: Japan: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 46: Japan: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 47: India: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 48: India: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 49: South Korea: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 50: South Korea: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 51: Australia: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 52: Australia: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 53: Indonesia: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 54: Indonesia: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 55: Others: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 56: Others: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 57: Europe: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 58: Europe: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 59: Germany: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 60: Germany: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 61: France: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 62: France: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 63: United Kingdom: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 64: United Kingdom: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 65: Italy: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 66: Italy: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 67: Spain: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 68: Spain: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 69: Russia: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 70: Russia: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 71: Others: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 72: Others: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 73: Latin America: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 74: Latin America: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 75: Brazil: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 76: Brazil: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 77: Mexico: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 78: Mexico: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 79: Others: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 80: Others: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 81: Middle East and Africa: Low Voltage Switchgear Market: Sales Value (in Million US$), 2018 & 2023
Figure 82: Middle East and Africa: Low Voltage Switchgear Market: Breakup by Country (in %), 2023
Figure 83: Middle East and Africa: Low Voltage Switchgear Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 84: Global: Low Voltage Switchgear Industry: Drivers, Restraints, and Opportunities
Figure 85: Global: Low Voltage Switchgear Industry: Value Chain Analysis
Figure 86: Global: Low Voltage Switchgear Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Low Voltage Switchgear Market: Key Industry Highlights, 2023 & 2032
Table 2: Global: Low Voltage Switchgear Market Forecast: Breakup by Product Type (in Million US$), 2024-2032
Table 3: Global: Low Voltage Switchgear Market Forecast: Breakup by Voltage Rating (in Million US$), 2024-2032
Table 4: Global: Low Voltage Switchgear Market Forecast: Breakup by Installation (in Million US$), 2024-2032
Table 5: Global: Low Voltage Switchgear Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 6: Global: Low Voltage Switchgear Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 7: Global: Low Voltage Switchgear Market: Competitive Structure
Table 8: Global: Low Voltage Switchgear Market: Key Players