The Disconnect Switches Market is estimated to surpass $ 15.35 Billion by 2024 growing at an estimated rate of CAGR 6.1% during 2018 to 2024. Majorly driven by the R& D efforts put to develop technologies to ensure safety and quality in power transmission and distribution network. Further the growing emphasis on publicity and growing concern about safety among consumers is also set to propel the market growth in the future.
What are Disconnect Switches?
Disconnect Switches are also known as safety switches or load break switches which are used in many industrial applications. , The main purpose of Disconnect switches is to provide service entrance and fault protection for motors. These are particularly designed to disconnect manufacturing equipment and heavy machinery from the power source at times of overload. Disconnect switches are of two types such as fusible disconnect switch, non-fusible disconnect switch. These two types of switches are in great demand from customers.
These disconnect switches market is mostly in the APAC region with leading countries such as China, South Korea, Japan, India, and others followed by Europe with leading countries such as the UK, Germany, France, Russia, and others.. Disconnect switch assure that an electrical circuit is completely isolated and de-energized for maintenance or service.
The key drivers for growth of disconnect switches market are rapid industrialization, urbanization, automation, and increasing awareness about safety in factories and manufacturing plants. These are perfectly suitable for many different applications such as motor control centers, switchboards, and in transformers and transmission lines where Disconnect switch acts as a main switch.
This report gives an in-depth assessment of disconnect switches market by current rating, by pole type, by switch type, by voltage types, by applications and geography. The major category of the disconnect switches is product type which were encompassed in the scope includes fusible disconnect switches, and non-fusible disconnect switches.
Who are the major end-users of Disconnect Switches?
The various end users assessed include INDUSTRIAL applications which includes photovoltaic, substation, power transmission & distribution, utilities, power generation, manufacturing & machinery, and COMMERCIAL applications which includes infrastructure, telecom, transportation(railways, aviation, & others), and OTHERS. The highly in demand application is in industrial sector which is currently being explored for safety precautions, which are rising the market of the Disconnect Switches and estimated to have huge growth during the forecast period. The capital expenditure of major companies in the development of product types have also escalated significantly since the last decade.
Market Research and Market Trends of Disconnect Switches
- Coming days, disconnect switches are set to grow with the adoption of new technologies in accordance with customer demand. This will in turn increase the growth of the market.
- Rising emphasis on safety of workspace is an important factors which is driving the market of the disconnect switches globally.
- Non-Contact Safety Switches are mostly used in many applications in industrial and commercial sectors that is the key growth factor of the Disconnect switches market.
- APAC is the leading region of this market valued $ 3.56 billion in 2017 and was estimated to reach $ 6.07 billion by 2024 with an anticipated growth of CAGR 7.7% during the forecast period.
- The important development which led to the growth of the market was the introduction of advanced cable-pull E-stop with patented, microprocessor-based technology by Rockwell.
Who are the Major Players in Disconnect Switches?
The companies referred to in the market research report includes Cooper Industries (Eaton Corporation) (U.S), Emerson Electric (U.S), ABB (Switzerland), Rockwell Automation (Allen Bradley) (U.S), and R.STAHL (Germany).
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
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- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.