Global Low Voltage Switchgear (LVSG) Industry Report 2023-2028: Advancements of Electricity Infrastructure, Installation of Heat Pumps and Retrofit of Energy-efficient Equipment Bolsters Growth

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Mar 14, 2024, 06:30 ET

DUBLIN, March 14, 2024 /PRNewswire/ -- The "Global Low Voltage Switchgear (LVSG) Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.

This study examines the market of low voltage switchgear (LVSG) components that include protection and switching devices such as air circuit breakers (ACB), molded case circuit breakers (MCCB), miniature circuit breakers (MCB), residual current circuit breakers (RCCB), contactors, and other surge protection and control devices used inside the LVSG assembly with ratings below 1 kilovolt (kV).

In 2022, the global LVSG market registered a slim growth rate of 0.8% due to post-pandemic effects on the economy, such as material shortages, cost inflation, and logistics issues. The slow growth of building construction will continue in 2023, with minimal expansion, and this will adversely affect the LVSG market, which will show modest recovery of above 3% revenue growth from 2024 onward.

In 2022, the Asia-Pacific (APAC) LVSG market accounted for 36.7% of the global market revenue. With the second-highest CAGR globally, APAC will remain the largest LVSG market in the world in 2028. The Latin American LVSG market reported market share of 3.6% in 2022. It is the smallest regional market but is on course to have the highest CAGR of 4.6% from 2022 to 2028.

Key growth drivers for LVSGs include the advancement of electricity infrastructure, installation of heat pumps and retrofit of energy-efficient equipment (e.g., HVAC, lighting, and metering systems), adoption of distributed energy and microgrids, and the rise of IoT and digital applications in building systems. The report has also identified four major growth opportunity areas, which are data centers, electrification, residential heat pumps, and building construction.

Growth Opportunity Universe

Data Centers
Electrification
Residential Heat Pumps
Building Construction

A selection of companies mentioned in this report includes

ABB
Eaton
Legrand
Schneider Electric
Siemens

Key Topics Covered:

Strategic Imperatives

Why is it Increasingly Difficult to Grow?
The Strategic Imperative
The Impact of the Top Three Strategic Imperatives on the Low Voltage Switchgear (LVSG) Industry
Growth Opportunities Fuel the Growth Pipeline Engine

Growth Opportunity Analysis

Scope of Analysis
Segmentation by Product
Segmentation by End User
Segmentation by Region
Growth Metrics
Growth Drivers
Growth Restraints
Forecast Assumptions
Revenue Forecast
Revenue Forecast by Product
Revenue Forecast by Region
Revenue Forecast Analysis
Revenue Forecast and Analysis by End User
Competitive Environment
Competitive Framework

For more information about this report visit https://www.researchandmarkets.com/r/1pmj88

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SOURCE Research and Markets