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The demand for electricity generation are expected to drive innovation in low voltage switchgear manufacturing, thus driving the market during the forecast period.

The global low voltage switchgear market is expected to grow from $28.16 billion in 2022 to $30.8 billion in 2023 at a compound annual growth rate (CAGR) of 9.4%. The global low voltage switchgear (<=1kv) market is expected to grow to $42.54 billion in 2027 at a CAGR of 8.4%.

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Global Low Voltage Switchgear Market Segments Include:

• By Product:Fixed Mounting, Plug-in, Withdrawable Unit
• By End User:Residential, Commercial, Industrial
• By Voltage Rating: Less than 250V, 250-750V, 751-1000V
• By Installation:Indoor, Outdoor
• By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global low voltage switchgear market in 2021.

Major Market Players in the low voltage switchgear market include ABB Limited, Al Hassan Engineering Co. S.A.O.G., E + I Engineering Ltd., Eaton Corporation, Fuji Electric, General Electric, Hitachi Limited.

The development of digital switchgear has become an emerging trend in the low voltage switchgear market. Digital switchgear uses the collected information to analyse the performance of current levels, temperature, operating cycles, and load levels which help in improving the performance and reliability of switchgear. Smart switchgear allows grid optimization, improved quality, and reduces both transmission and operating losses. For instance, in November 2020, ABB Ltd., a Switzerland-based automation company, introduced NeoGear low-voltage switchgear. It is safer, smarter, and more sustainable, increasing efficiency while decreasing expenses for digitalized industries. It includes real-time condition monitoring and predictive maintenance, remote support, fault and solution diagnostics, and data analytics for Industry 4.0. Therefore, digital switchgear is expected to gain popularity in the low voltage switchgear market.

The Low Voltage Switchgear Global Market Report 2023  provides a low voltage switchgear market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The low voltage switchgear market forecast analyzes low voltage switchgear market size, low voltage switchgear market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Low voltage switchgear refers to electrical switchgear rated up to 1KV. They are used in low voltage distribution boards to protect the low voltage system.

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