Load break switches are designed to handle switch of ranges of currents. They can energize or de-energize circuits with limited amount of magnetic and capacitive currents. Switches are used in medium voltage systems for protection and switching purposes. It can cut off healthy circuits or detach the load in case of faults or maintenance.
The global load break switch market report by Market Research Future (MRFR) contains trends, opportunities, restraints, and challenges to be faced by the industry for the forecast period (2023-2030). The COVID-19 pandemic and its effects are explored in detail for analysis of cost-benefits and future investments.
Competitive Landscape
Rockwell Automation, Ensto, Schneider, GE, Socomec, Eaton, Siemens, Fuji Electric, Powell Electric, and ABB are key players of the global load break switch market.
Market Scope
The global load break switch market is set to expand at 5.25% CAGR over the forecast period, according to MRFR. Installation of outdoor switches for handling power peak at transformers can drive the market demand. Switches with flexible installations and easy configurations can facilitate the growth. Modernization of legacy power grids and investments in power distribution will boost market demand.
The need for power generation on a real-time basis and transmission of power through a centralized grid are necessary requisites for load break switches.
The COVID-19 pandemic had a negligible impact on the industry with utilities relying on renewable energy in the coming years. Low operating costs in the renewable sector had brought to the forefront the use of smart grids and demand of load break switches for managing heavy power demand at peak times.
Availability of counterfeit products can impede the market growth.
Segmentation
Based on type, the load break switch market is segmented into gas-insulated, vacuum-insulated, air-insulated, and oil-immersed types. As per the study conducted by MRFR, the gas-insulated segment is projected to command a major share of the market due to its increased application in renewable energy power system projects. Furthermore, it is gaining increased popularity owing to its ease of maintenance and longer life cycles. With countries focusing on large-scale renewable energy projects, the gas-insulated type is expected to command a larger market share among the different types of load break switches. Gas-filled switches are reliable owing to contacts being resistant to pollution and weather.
Based on installation type, it is projected that the outdoor segment is expected to command a larger share of the market, owing to its increased implementation in commercial and utility projects. The residential sector is, moreover, witnessing a gradual growth, owing to multiple distributed grid and smart grid projects in the European and North American region. Load break switches are now manufactured with flexible mounting and installation options, which is further expected to boost the market.
Regional Analysis
North America, Europe, the Middle East Africa (MEA), and Asia-Pacific (APAC) are regions considered for the global load break switch market.
APAC is likely to evoke huge demand for load break switches owing to establishment of nuclear power plants and new power generation transmission projects. Large disposable income levels of customers coupled with increasing demand for power can drive regional market demand. Acceptance of new bids for renewable energy schemes can bode well for the market in the coming years. China, India, Malaysia, and Indonesia are leading contributors to the region.
North America is estimated to contribute to the global load break switch market size owing to investments in the oil gas sector. Establishment of transformers and sub-stations in remote regions can evoke the need for disconnect switches.
Industry News
NOJA Powers load switch case, VISI-SWITCH LBS15-16-800, has a visible air gap and connects vacuum interrupters and isolators. It can break the currents from a single case and operates in a 40-55 degree temperature range.
