MarketsandMarkets: The global load switch market size is approximately US$2.32 billion

MarketsandMarkets, the world’s second-largest market research institution, recently released a report that the global load switch market in 2021 is expected to reach 2.32 billion US dollars.

With the market’s upgrading of aging power infrastructure and increased investment in the power distribution field, it is estimated that by 2023, the global load switch market will increase to 3.12 billion U.S. dollars, with a compound annual growth rate of 6.16% during the period.

In addition, growing renewable energy generation will increase the demand for load disconnect switches. Due to the government’s major policy measures to promote renewable energy power generation and refurbish aging power infrastructure, emerging markets in the Asia-Pacific region provide an excellent opportunity for the load switch market.

According to the load type, the load switch market is divided into four main types: gas insulation, vacuum, air insulation and oil immersion. It is estimated that gas insulated load switches will lead the global market in 2018. Due to the characteristics of simple installation, long life cycle, and long electromechanical life, gas insulated load switches are expected to grow at the fastest rate during the forecast period. In the Asia-Pacific region, the main demand for gas-insulated load switches comes from power companies.

According to the installation, the outdoor part occupies the largest market scale in 2017. Outdoor switches can also deploy outdoor distribution transformers up to 36 kV. These switches have flexible installation and installation configurations, and these factors are expected to drive the outdoor segment of the load disconnect switch market through installation.

From a regional perspective, it is estimated that by 2023, the Asia-Pacific market will lead the global load disconnect switch market. The size of the market in this region can be attributed to the increasing focus on the power distribution industry. Countries such as China, Japan and India are key markets for load disconnect switches in the Asia-Pacific region. It is expected that the renovation of the aging power infrastructure in the region will drive market demand growth throughout the Asia-Pacific region.

It should be noted that the reduction in investment by oil and gas companies has an adverse effect on the demand for medium voltage equipment used in the distribution network, because load switches are mainly used in the oil and gas industry, substations and transformers for remote power distribution. Due to the decline in investment, no new projects have been launched in the oil and gas industry. Therefore, the cancellation of new oil and gas projects will result in no new oil and gas plants, resulting in a decline in demand for medium voltage products such as load switches. Therefore, this will lead to a decline in the market demand for load switches from oil and natural gas end users.

From the perspective of enterprises, General Electric of the United States, Siemens of Germany, Schneider of France, Eaton of Ireland and ABB of Switzerland will become major suppliers in the world’s five largest load switch markets.

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