TheLow Voltage Disconnect Switch Marketis expected to reach a market capitalization of USD 4.94 Billion by 2028 from an estimated value of USD 3.58 Billion in 2021, at a Compound Annual Growth Rate (CAGR) of 4.7%. The low voltage disconnect switch is a solid 100% electronic protection module that eliminates pre-determined auxiliary loads in the starting bank to ensure that sufficient power is left in the batteries to start. This switch is suitable for users and delivering vehicles, as well as compatible boarding vehicles, such as snowplows, hoists, pumps, and floodlights, as well as in-cab accessories such as air conditioning. The low voltage disconnect switch has a voltage of 100 A at 12 V or 24 V DC. Its service life exceeds 1 million opening/closing cycles. It also has a manual output that allows users to connect or disconnect the switch when needed, regardless of voltage. Switch resistance to moisture, salt spray, vibration, and shock make it a flexible device that can be used on any vehicle or location.
Market growth is driven by increased spending on transfer and distribution networks, automatic distribution growth, and growing concerns about the efficient and reliable power supply. Increasing demand for photovoltaic systems is expected to drive the market for low voltage disconnect switches. Photovoltaic systems have evolved into a mature, sustainable, and flexible technology. New installation and the need for PV systems have increased the need to disconnect switches and overprotective devices that can disrupt currents. These systems, like all power systems, must have adequate overflow and overflow protection. This application is one of the growing components of the disconnected market so the increasing focus on generating electricity through PV systems will serve as an important driver of the Low Voltage Disconnect Switch Market.
Rising industrial safety concerns, growing network distribution, and transmission networks, and rapid industrial development in developing countries are also some of the factors driving the growth of the Low Voltage Disconnect Switch Market globally. Many countries use smart grids and switching channel projects, which greatly increase the need for low voltage disconnect switches. Ongoing efforts are being made by many companies to improve their research and development activities in order to introduce innovations in the field.
Low voltage disconnect switches can be of two types: fused and non-fused. The Global Low Voltage Disconnect Switch Market based on end-use basically can be either commercial or industrial. The industries, in this case, include, utility infrastructure, motor protection, power distribution boards, photovoltaic, and others. Regionally, the market is segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and South America. Demand for electricity is growing in developed countries in Europe and North America and in the fast-growing economies in the Asia Pacific. The production, transmission, and distribution of electricity is increasing at an alarming rate which has led to an increase in sales of compatible components, such as switchgear, circuit breakers, and switch switches. The Asia Pacific leads the Low Voltage Disconnect Switch Market and is projected to grow at a rapid pace over the next five years. This growth may be due to higher urban and industrial growth in countries such as China, India and Japan. China and India are two of the fastest-growing economies in the world and are responsible for the growth of the cross-country exchange market. The transmission and distribution industry has been growing in the Asia-Pacific, which has led to the emergence of a large-scale power conversion market in the region. North America and Europe stand in second and third place, respectively, in terms of market size, in the global Low Voltage Disconnect Switch Market.
Key players in the Low Voltage Disconnect Switch Market include - ABB Ltd., Eaton Corporation, Siemens AG, and Schneider Electric SA, Salzer Electronics Ltd, Katko, Ensto, Lovato Electric, Benedict GMBH, and Kraus & Naimer.
These players in this market are focused on increasing their presence through contracts and partnerships.