Europe Low Voltage Switchgear Market Size (2024 - 2029)

The Europe Low Voltage Switchgear Market is anticipated to experience growth over the forecast period, driven by rising investments in the electricity sector and the development of substations and distribution systems. Despite challenges posed by high operations and maintenance costs, the market is benefiting from technological advancements aimed at producing energy-efficient switchgear, which are expected to offer significant opportunities. Germany is projected to lead the market due to its increasing electricity demand and investments in upgrading infrastructure.

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Market Size of Europe Low Voltage Switchgear Industry

Europe Low Voltage Switchgear Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 6.00 %
Market Concentration Medium

Major Players

Europe Low Voltage Switchgear Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Low Voltage Switchgear Market Analysis

Europe's low voltage switchgear market is projected to register a CAGR of over 6% during the forecast period.

  • COVID-19 negatively impacted the market in 2020. Presently the market has reached pre-pandemic levels. Over the medium term, the increasing investment in the electricity sector and increasing development of substations and distribution systems are expected to increase the demand for a Europe Low Voltage Switchgear Market.
  • On the other hand, high operations and maintenance costs are expected to hinder the market growth.
  • Nevertheless, the increasing technological investments in the market to produce energy-efficient switchgear are expected to create huge opportunities for the Europe Low Voltage Switchgear Market.
  • Germany is expected to dominate the market during the forecasted period due to the increasing demand for electricity and increasing investments in upgrading electricity infrastructure.

Europe Low Voltage Switchgear Industry Segmentation

Low voltage switchgear refers to a collection of electrical equipment used to control, protect, and isolate electrical equipment and circuits with a voltage rating of up to 1000V AC (alternating current) or 1500V DC (direct current). The main function of low-voltage switchgear is to distribute electrical power from the source of power to various electrical equipment and loads and to protect the equipment and circuits from overloads, short circuits, and other faults. Low-voltage switchgear is essential to any electrical distribution system, ensuring the safe and reliable delivery of electrical power.

The Europe low voltage switchgear market is segmented by application, installation, voltage rating, and geography. By application, the market is segmented into substation and distribution. By installation, the market is segmented into indoor and outdoor; by voltage rating, the market is segmented into below 250 V, 250 V - 750 V, and 750V - 1000 V. The report also covers the market size and forecasts across major countries in the region, such as the United Kingdom, France, Germany, and the Rest of Europe.

For each segment, the market sizing and forecasts have been done based on revenue capacity in USD Billion.

Application
Substation
Distribution
Utility
Installation
Outdoor
Indoor
Voltage Rating
Less Than 250 V
250 V - 750 V
750 V - 1000 V
Geography [Market Size and Demand Forecast till 2028 (for regions only)]
Germany
France
United Kingdom
Rest of Europe
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Europe Low Voltage Switchgear Market Size Summary

The Europe Low Voltage Switchgear Market is poised for significant growth, driven by increasing investments in the electricity sector and the development of substations and distribution systems. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19. However, high operational and maintenance costs pose challenges to market expansion. Despite these hurdles, technological advancements aimed at producing energy-efficient switchgear present substantial opportunities. Germany is expected to lead the market due to its rising electricity demand and investments in upgrading its electricity infrastructure. The distribution system, encompassing primary and secondary networks, is crucial as industrialization and urbanization in Europe continue to surge, boosting electricity demand across countries like Germany, France, and the United Kingdom.

Germany's position as a major electricity consumer in the EU and globally underscores its importance in the low voltage switchgear market. The country's focus on energy security and renewable energy expansion, driven by geopolitical factors, is set to increase investments in substations and distribution systems. This, in turn, will elevate the demand for low voltage switchgear. The market is moderately fragmented, with key players such as ABB Ltd., Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, and Eaton Corporation PLC actively participating. Recent collaborations and agreements, like those between Harju Elekter Elektrotehnika and CERN, as well as Siemens and Plastic Energy, highlight ongoing efforts to enhance technological capabilities and expand market presence in Europe.

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Europe Low Voltage Switchgear Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Substation

      2. 2.1.2 Distribution

      3. 2.1.3 Utility

    2. 2.2 Installation

      1. 2.2.1 Outdoor

      2. 2.2.2 Indoor

    3. 2.3 Voltage Rating

      1. 2.3.1 Less Than 250 V

      2. 2.3.2 250 V - 750 V

      3. 2.3.3 750 V - 1000 V

    4. 2.4 Geography [Market Size and Demand Forecast till 2028 (for regions only)]

      1. 2.4.1 Germany

      2. 2.4.2 France

      3. 2.4.3 United Kingdom

      4. 2.4.4 Rest of Europe

Europe Low Voltage Switchgear Market Size FAQs

The Europe Low Voltage Switchgear Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

ABB Ltd, Siemens AG, Mitsubishi Electric Corporation., Schneider Electric SE and Eaton Corporation PLC are the major companies operating in the Europe Low Voltage Switchgear Market.

Europe Low Voltage Switchgear Report Snapshots

Europe Low Voltage Switchgear Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)