Market Size of Load Break Switch Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Middle-East and Africa |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Load Break Switch Market Analysis
Load break switch refers to a disconnect switch whose function is to make or break the electrical connection at certain specified levels of current. A load break switch is generally used for medium voltage level systems for the purpose of switching and protection. The load break switch market is expected to grow at a CAGR of more than 4.3% during the forecast period 2021-2026. Factors such as the growing power generation sector, refurbishment of aging power infrastructure, and increased investment in the power distribution sector are expected to drive the load break switch market, globally. In addition, the growing renewable-based power generation is predicted to boost the demand for load break switches. However, factors such as delays in T&D projects in various countries coupled with the negative impact of COVID-19 on the power sector are expected to hinder the growth of the market.
- The utility segment is expected to dominate in the market during the forecast period owing to the expansion and refurbishment projects in the utility sector.
- The digital transformation of utilities is likely to improve the efficiency of power generation and the transmission and distribution of electricity. Thus, digitalization of electric utilities is likely to provide an opportunity for this market in the near future.
- Asia-Pacific is expected to have fastest growth in the load break switch market during the forecast period.
