Global Load Break Switches Market Report 2020: After a Temporary Fall in Sales Due to COVID-19, The Market is Projected to Reach US$2.9 Billion by 2027 - ResearchAndMarkets.com

The "Load Break Switches - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

After a temporary fall in sales in the year 2020, the global market for Load Break Switch is projected to reach US$2.9 billion by 2027.

The ongoing corona virus pandemic has lined up several immediate term challenges for the market. Shuttered factories and commercial establishments come as a short-term blow to utilities and for all players in the energy value chain, including Load Break Switch manufacturers. The market is expected to witness a dip in revenues in the year 2020, as the COVID-19 pandemic brings approximately 25% of the world population under lockdown.

As the world enters into a more critical phase of the infection spread, more countries are expected to follow with even more stringent lockdown and stay-at-home measures to curb the spread of the virus. The implications for businesses and industries are grim. The lockdown is severely impacting energy consumption which in turn is taking a toll on cash flows for energy companies. The falling consumption rates can very likely be a real-time indicator of coming economic damage.

Several energy companies including oil exploration companies and utilities have already suspended projects and slashed capex. While the blow to business activities, and revenue has and still continues to be great, the coming years will still be tougher as the world now stares at a looming recession. The world economy is heading towards the worst-of-its kind recession, worse than even the Great Recession of 2009.

Governments are beefing up emergency budgets for healthcare, sanitation and social security to fight the pandemic. The shutdown has disrupted economic activities in a manner hitherto unimagined and the human cost of the pandemic is continuing to grow and is expected to deal an unprecedented blow to economies worldwide. As businesses struggle to keep afloat, job cuts and bankruptcies are expected to rise sending millions into unemployment. With fiscal coffers rapidly depleting and with emergency budgets beefed up for healthcare, new infrastructure development, upgrade and expansion projects will receive a blow.

As focus on power transmission and distribution infrastructure temporarily recedes, demand in transformer switching applications will soften. Demand for load break switches in ring main gears (RMG) applications will also be hit as investments in electrical power distribution both in primary and secondary distribution substations take a beating.

As Industrial activity weakness, opportunities will shrink in applications such as switching of condensers. Upgrades from manual to motorized load break switches will likely witness delays. In the post COVID-19 period, the market's fundamental growth drivers will re-emerge to help growth recover including investments in smart grids. Grids and smart grids constitute the major consumers of load break switches, accounting for robust share in overall sales.

Re-emerging focus on upgrade and modernization of grid infrastructure and rising emphasis on smart grids will accelerate deployments of load break switches over the medium term. Similarly, with the rapid rise of automation and wider adoption of electrical and electronic systems in industrial environments, demand for load break switches will improve as migration to Industry 4.0, smart factory, and smart manufacturing regains pace.

Competitors identified in this market include, among others:

• ABB Group
• Eaton Corporation PLC
• Ensto Group
• LSIS Co., Ltd.
• Lucy Electric Uk Ltd.
• Powell Industries, Inc.
• Rockwell Automation Inc.
• Schneider Electric SE
• Siemens AG
• Socomec Group

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Impact of Covid-19 and a Looming Global Recession
• An Introduction to Load Break Switch
• Definition
• Types of Load Break Switch
• Key End-Uses
• Load Break Switch: Current Market Scenario and Outlook
• Gas Insulated Switches: Largest & Fastest Growing Product Type
• Vacuum Load Breaking Switches Continue to Make Gains
• New Infrastructure, Upgrade, and Expansion Projects in Developing Countries Offer Immense Growth Potential
• Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India and Latin America Over the Period 2010-2030
• Rural Electrification Drive in Developing Countries Promote Growth
• Aging Power Infrastructure Underscores Need for Replacement and Upgrades in Developed Markets
• Leading Players in the Load Breaking Switch Market

2. FOCUS ON SELECT PLAYERS

• Recent Market Activity

3. MARKET TRENDS & DRIVERS

• Demand for Compact Load Break Switches Drive Market Growth
• Digitalization of Utilities Offers Growth Opportunities to the Market
• Surge in Energy Consumption Leading to Rise in Power Production, Transmission and Distribution: Foundation for Market Growth
• Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
• Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
• Global Primary Energy Consumption (Billion toe) by End-Use Sector (1995, 2017 and 2040)
• Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
• Dynamics in the World Manufacturing Sector Favor Expansion in Load Break Switch Market
• Top 10 Countries in Terms of Manufacturing Output: 2018
• New Investments in Power Distribution Sector and Refurbishment of Aging Power Infrastructure Significantly Impact Growth Trends
• Slowing Oil & Gas Sector and Substitutes like Vacuum Circuit Breaker Pose Challenges
• High Cost Restrains Market Growth
• Energy Storage Set to Disrupt Investments in Transmission and Distribution Infrastructure

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

IV. COMPETITION

• Total Companies Profiled: 46

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