Low Voltage Switchgear Growth Opportunities

Low Voltage Switchgear Growth Opportunities


Data Centers, Charging Infrastructure, and Residential Projects as Key Prospects for Vertical Expansion

In this study, Frost & Sullivan examines the market of low voltage switchgear (LVSG) components that include protection and switching devices such as air circuit breakers (ACB), molded case circuit breakers (MCCB), miniature circuit breakers (MCB), residual current circuit breakers (RCCB), contactors, and other surge protection and control devices used inside the LVSG assembly with ratings below 1 kilovolt (kV). The study does not include the LVSG assembly’s outer panels and structure; it is limited to the components available inside the assembly. Revenue is measured in terms of manufacturer’s earnings from regional demand for LVSG components. This study excludes revenue generated through installation, commission, and value-added services from distributors and panel builders.

In 2022, the global LVSG market registered a slim growth rate of 0.8% due to post-pandemic effects on the economy, such as material shortages, cost inflation, and logistics issues. The slow growth of building construction will continue in 2023, with minimal expansion, and this will adversely affect the LVSG market, which will show modest recovery of above 3% revenue growth from 2024 onward. In 2022, the Asia-Pacific (APAC) LVSG market accounted for 36.7% of the global market revenue. With the second-highest CAGR globally, APAC will remain the largest LVSG market in the world in 2028. The Latin American LVSG market reported market share of 3.6% in 2022. It is the smallest regional market but is on course to have the highest CAGR of 4.6% from 2022 to 2028.

Key growth drivers for LVSGs include the advancement of electricity infrastructure, installation of heat pumps and retrofit of energy-efficient equipment (e.g., HVAC, lighting, and metering systems), adoption of distributed energy and microgrids, and the rise of IoT and digital applications in building systems. Frost & Sullivan has also identified four major growth opportunity areas, which are data centers, electrification, residential heat pumps, and building construction.


  • Strategic Imperatives
    • Why is it Increasingly Difficult to Grow?
    • The Strategic Imperative 8
    • The Impact of the Top Three Strategic Imperatives on the Low Voltage Switchgear (LVSG) Industry
    • Growth Opportunities Fuel the Growth Pipeline Engine
  • Growth Opportunity Analysis
    • Scope of Analysis
    • Segmentation by Product
    • Segmentation by End User
    • Segmentation by Region
    • Growth Metrics
    • Growth Drivers
    • Growth Restraints
    • Forecast Assumptions
    • Revenue Forecast
      • Table LVSG: Revenue Forecast, Global, 2020-2028
    • Revenue Forecast by Product
      • Table LVSG: Revenue Forecast by Product, Global, 2020-2028
    • Revenue Forecast by Region
      • Table LVSG: Revenue Forecast by Region, Global, 2020-2028
    • Revenue Forecast Analysis
    • Revenue Forecast and Analysis by End User
    • Competitive Environment
    • Competitive Framework
    • Key Participant Profile-ABB
    • Key Participant Profile-Eaton
    • Key Participant Profile-Legrand
    • Key Participant Profile-Schneider Electric
    • Key Participant Profile-Siemens
  • Regional Outlook-Europe
    • Region Snapshot-Europe
    • Revenue Forecast by Country-Europe
      • Table LVSG: Revenue Forecast by Country, Europe, 2020-2028
    • Revenue Forecast by Product-Germany
      • Table LVSG: Revenue Forecast by Product, Germany, 2020-2028
    • Revenue Forecast by Supporting Industry-Germany
    • Revenue Forecast by Product-UK
      • Table LVSG: Revenue Forecast by Product, UK, 2020-2028
    • Revenue Forecast by Supporting Industry-UK
    • Revenue Forecast by Product-France
      • Table LVSG: Revenue Forecast by Product, France, 2020-2028
    • Revenue Forecast by Supporting Industry-France
    • Revenue Forecast by Product-Italy
      • Table LVSG: Revenue Forecast by Product, Italy, 2020-2028
    • Revenue Forecast by Supporting Industry-Italy
    • Revenue Forecast by Product-Spain
      • Table LVSG: Revenue Forecast by Product, Spain, 2020-2028
    • Revenue Forecast by Supporting Industry-Spain
    • Revenue Forecast by Product-Benelux
      • Table LVSG: Revenue Forecast by Product, Benelux, 2020-2028
    • Revenue Forecast by Supporting Industry-Benelux
    • Revenue Forecast by Product-The Nordics
      • Table LVSG: Revenue Forecast by Product, The Nordics, 2020-2028
    • Revenue Forecast by Supporting Industry-The Nordics
  • Regional Outlook-North America
    • Region Snapshot-North America
    • Revenue Forecast by Country-North America
      • Table LVSG: Revenue Forecast by Country, North America, 2020-2028
    • Revenue Forecast by Product-US
      • Table LVSG: Revenue Forecast by Product, US, 2020-2028
    • Revenue Forecast by Supporting Industry-US
    • Revenue Forecast by Product-Canada
      • Table LVSG: Revenue Forecast by Product, Canada, 2020-2028
    • Revenue Forecast by Supporting Industry-Canada
  • Regional Outlook-APAC
    • Region Snapshot-APAC
    • Revenue Forecast by Country-APAC
      • Table LVSG: Revenue Forecast by Country, APAC, 2020-2028
    • Revenue Forecast by Product-China
      • Table LVSG: Revenue Forecast by Product, China, 2020-2028
    • Revenue Forecast by Supporting Industry-China
    • Revenue Forecast by Product-India
      • Table LVSG: Revenue Forecast by Product, India, 2020-2028
    • Revenue Forecast by Supporting Industry-India
    • Revenue Forecast by Product-Japan
      • Table LVSG: Revenue Forecast by Product, Japan, 2020-2028
    • Revenue Forecast by Supporting Industry-Japan
    • Revenue Forecast by Product-South Korea
      • Table LVSG: Revenue Forecast by Product, South Korea, 2020-2028
    • Revenue Forecast by Supporting Industry-South Korea
    • Revenue Forecast by Product-ANZ
      • Table LVSG: Revenue Forecast by Product, ANZ, 2020-2028
    • Revenue Forecast by Supporting Industry-ANZ
    • Revenue Forecast by Product-Southeast Asia
      • Table LVSG: Revenue Forecast by Product, Southeast Asia, 2020-2028
    • Revenue Forecast by Supporting Industry-Southeast Asia
  • Regional Outlook-MEA
    • Region Snapshot-MEA
    • Revenue Forecast by Country-MEA
      • Table LVSG: Revenue Forecast by Country, MEA, 2020-2028
    • Revenue Forecast by Product-UAE
      • Table LVSG: Revenue Forecast by Product, UAE, 2020-2028
    • Revenue Forecast by Supporting Industry-UAE
    • Revenue Forecast by Product-Saudi Arabia
      • Table LVSG: Revenue Forecast by Product, Saudi Arabia, 2020-2028
    • Revenue Forecast by Supporting Industry-Saudi Arabia
    • Revenue Forecast by Product-Qatar
      • Table LVSG: Revenue Forecast by Product, Qatar, 2020-2028
    • Revenue Forecast by Supporting Industry-Qatar
    • Revenue Forecast by Product-South Africa
      • Table LVSG: Revenue Forecast by Product, South Africa, 2020-2028
    • Revenue Forecast by Supporting Industry-South Africa
    • Revenue Forecast by Product-Egypt
      • Table LVSG: Revenue Forecast by Product, Egypt, 2020-2028
    • Revenue Forecast by Supporting Industry-Egypt
    • Revenue Forecast by Product-Nigeria
      • Table LVSG: Revenue Forecast by Product, Nigeria, 2020-2028
    • Revenue Forecast by Supporting Industry-Nigeria
  • Regional Outlook-LATAM
    • Region Snapshot-LATAM
    • Revenue Forecast by Country-LATAM
      • Table LVSG: Revenue Forecast by Country, LATAM, 2020-2028
    • Revenue Forecast by Product-Brazil
      • Table LVSG: Revenue Forecast by Product, Brazil, 2020-2028
    • Revenue Forecast by Supporting Industry-Brazil
    • Revenue Forecast by Product-Mexico
      • Table LVSG: Revenue Forecast by Product, Mexico, 2020-2028
    • Revenue Forecast by Supporting Industry-Mexico
    • Revenue Forecast by Product-Argentina
      • Table LVSG: Revenue Forecast by Product, Argentina, 2020-2028
    • Revenue Forecast by Supporting Industry-Argentina
    • Revenue Forecast by Product-Chile
      • Table LVSG: Revenue Forecast by Product, Chile, 2020-2028
    • Revenue Forecast by Supporting Industry-Chile
    • Revenue Forecast by Product-Colombia
      • Table LVSG: Revenue Forecast by Product, Colombia, 2020-2028
    • Revenue Forecast by Supporting Industry-Colombia
  • Growth Opportunity Universe
    • Growth Opportunity 1: Data Centers
    • Growth Opportunity 2: Electrification
    • Growth Opportunity 3: Residential Heat Pumps
    • Growth Opportunity 4: Building Construction

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