Market Leaders: Low Voltage Disconnect Switch Market
The global low voltage disconnect switch market is likely to grow at 4.5% from 2016 to 2021. The growth of the low voltage disconnect switch market has been influenced by various stakeholders such as disconnect switch manufacturers, distribution utility players, private utility players, government and research organizations.
Rapid industrialization and urbanization in developing economies, especially in the Middle East and BRICS nations, have increased demand for low voltage disconnect switches. In addition, growing investments in the renewable sector are driving the current market of low voltage disconnect switches.
The low voltage disconnect switch is used for a variety of purposes, such as to manage a distribution network, to interrupt power during maintenance, for shifting load across the network, and to prevent a loss by turning off if a safety threat arises.
Leading companies in the low voltage disconnect switch market focussed on new product development, partnerships/agreements/collaborations, expansions, mergers & acquisitions, and other developments to broaden their product portfolio, and adapt to the changing demands of the end-users. Among the above approaches, new product development and partnerships/agreements/collaborations were adopted by major industry players as their growth strategy.
The low voltage disconnect switch market was dominated by ABB Ltd. (Switzerland); Eaton Corporation (Ireland); Socomec (France); General Electric (U.S.); Siemens AG (Germany); Schneider Electric SA (France); Salzer Electronics Limited (India) among others.
These market players have also been active in the competitive developments of the low voltage disconnect switch market.
Siemens AG (Germany) is the market leader in the disconnector switch market. It is a leading German conglomerate serving the T&D industry for more than 160 years. Siemens AG has signed several contracts and received orders from other businesses that would help it to increase its revenue as well as create growth opportunities in the electrical market. The company spent approximately USD 4.45 billion in R&D to develop new technologies in the fiscal year 2014. Siemens AG held more than 56,000 granted patents worldwide in its continuing operations in 2014. It primarily targets potential markets to strengthen its presence in the electrical equipment industry. The company’s use of cutting edge technology in its new products has enhanced its brand image and provided it with a competitive advantage.
Another major company operational in this market is ABB Ltd. (Switzerland). The company is one of the leading players in the power and automation industries. The company has been primarily focusing on expansion and new innovatory application strategies to boost its position in the power generation to transmission, distribution system market. Its recent product developments in the field of electrical distribution, such as the new range of OTDC switch disconnectors, will likely help the company strengthen its market position and serve its client-base more efficiently through a diversified product portfolio.
Related Reports:
Low Voltage Disconnect Switch Market by Type (Fused & Non-Fused), by Mount (Panel, DIN Rail, & Others), by Voltage (0-240 V, 240- 480 V, 480-690 V), by Application (Industrial & Commercial) & by Region - Global Trends & Forecasts to 2021
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