Load Break Switch Market

GE (US) and Siemens (Germany) are the Key Players in the Load Break Switch Market

The global load break switch market is estimated to be USD 2.32 Billion in 2018 and is projected to grow at a CAGR of 6.16%, during the forecast period, to reach a market size of USD 3.12 Billion by 2023. In 2018, Asia Pacific is estimated to be the largest market for load break switches, followed by North America and Europe. The key players in the Asian load break switch market include Fuji (Japan) and LSIS (South Korea). The growth of the load break switch market is driven by the rising need for the refurbishment of aging power infrastructure and the increasing investment in the power distribution sector. Digitalization of electric utilities presents a significant opportunity for the load break switch market.

The load break switch market comprises both global and regional players. The key players operating in the market include GE (US), Siemens (Germany), Schneider (France), Eaton (Ireland), and ABB (Switzerland). New product developments, investments & expansions, contracts & agreements, and mergers & acquisitions are the major strategies adopted by the players in the load break switch market. New product development was the most commonly adopted strategy from 2013 to 2017. Industry players also adopted the strategy of contracts & agreements, which was the second-most widely followed strategy from 2013 to 2017.

GE is one of the largest industrial companies, transforming the industry by offering products & solutions that are responsive as well as predictive. The company has seven business segments, namely, power, renewable energy, oil & gas, aviation, healthcare, transportation, energy connections & lighting, and capital. The company manufactures load break switches under its energy connections & lighting segment. Through this business segment, GE caters to various end-use industries such as utilities, oil & gas, mining, marine, and renewable energy. The company is serving its customers in over 180 countries majorly in the Americas, Africa, Asia, Europe, Australia, and the Middle East. It has 184 manufacturing plants located in 38 states of US and 325 other manufacturing sites located in 40 other countries. In December 2014, GE launched a compact distribution panel for data center applications. This 3U panel features both fuse and circuit breaker with a single- or dual-load bus. This new product launch has helped GE to expand its product portfolio.

Siemens is one of the leading technology companies offering products, solutions, and services in the field of electrification, automation, and digitalization across the globe. The company operates through eight business segments, namely, power and gas, building technologies, energy management, mobility, digital factory, process industries and drives, healthineers, and Siemens Gamesa renewable energy. Siemens provides load break switches under its energy management business segment. Through its energy management segment, the company caters to various direct customers as well as channel partners such as power providers, T&D system operators, industrial companies, infrastructure developers, construction companies, distributors, and OEMs. The energy management division of the company operates in more than 90 countries with approximately 100 production sites worldwide. Some of Siemens’ subsidiaries are Dresser-Rand (Germany), Siemens Industry Software (Germany), CD-Adapco India (India), and Siemens Transmission & Distribution (UK). In May 2017, Siemens entered into a contract with Qatar General Water & Electricity Corporation (KAHRAMAA) to supply 35 primary substations for up to 400 kV voltage levels. The scope of the contract also includes the supply of gas-insulated switchgear, transformers, and other protection devices. The contract has helped the company to strengthen its operation in the Middle Eastern market.

Related Reports:

Load Break Switch Market by Type (Gas-Insulated, Vacuum, Air-Insulated, & Oil-Immersed), Voltage (Below 11 kV, 11–33 kV, 33–60 kV), Installation (Outdoor & Indoor), End-User (Utilities, Industrial, Commercial), and Region - Global Forecast to 2023

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Load Break Switch Market Size,  Share & Growth Report
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