Portland, OR -- (SBWIRE) -- 06/22/2018 -- North America dominated the global non-fused switch disconnectors market in 2016. In addition, in the same year, China dominated the market in Asia-Pacific. Similarly, the U.S. dominated the market in North America, whereas the UK led in Europe in 2016.
Global Non-fused Switch Disconnectors Market was valued at $6,229.90 million in 2016, and is projected to reach at $9,556.20 million by 2023, growing at a CAGR of 6.0% from 2017 to 2023, according to the latest report published by Allied Market Research.
At present, North America dominates this market. In 2016, China registered the highest growth in Asia-Pacific. Similarly, the UK led the overall market in Europe in 2016. In the same year, the U.S. dominated the North American market.
The global non-fused switch disconnectors market is expected to register significant growth during the forecast period attributed to increase in urbanization and industrialization in the emerging markets, which include China, India, and others. Further, rise in the safety concern of labor and worker among the industrialists fuels the market growth. However, fluctuating price of raw materials used to manufacture non-fused disconnectors is expected to hinder the growth of the market.
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In 2016, based on voltage, the low voltage segment dominated the global non-fused switch disconnectors market, in terms of revenue. However, based on electric phase, three phase dominated the global market in the same year.
Increase in Industrialization in the Emerging Market
Rise in working population and increase in urbanization leads to rise in industrialization in the emerging market such as India, China, Brazil, and others. Further, with the increase in industrialization, the demand for non-fused switch disconnectors is also expected to increase in the market, as it provides an easy means to open and close a circuit. It also offers protection against overcurrent, circuit overloads, short circuiting, and other advantages. Moreover, the growth in demand among commercial applications, such as food processing, electrical machinery, material handling operation, automotive, official buildings, and others drive the growth of the non-fused switch disconnectors market globally.
Rise in Expansion of Transmission and Distribution Networks
As electric power is a crucial infrastructure for any developing and developed region, power system is being acquired globally under every segment and regions. Further, transmission and distribution industry has been expanding in Asia-Pacific and Middle East regions resulting in higher opportunities owing to the rapid urbanization and industrialization. Moreover, increase in investments in transmission and distribution networks globally provides ample of growth opportunities for the market.
Key Findings of the Non-fused Switch Disconnectors Market:
- Low voltage generated the highest revenue in 2016.
- In 2016, the three phase segment accounted for the highest revenue in the non-fused switch disconnectors market.
- Asia-Pacific is anticipated to exhibit a highest CAGR during the forecast period.
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The key players profiled in the report include Siemens AG, Schneider Electric SE, ABB Ltd., General Electric Company, Eaton Corporation, WEG SA, Havells India Ltd., Littelfuse Inc., Mitsubishi Electric, and Delixi Electric Co. Ltd.