Global Low and medium voltage switchgear with MCC Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Low and medium voltage switchgear with MCC Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Low-voltage switchgear is a device used in electrical systems in the low voltage range (usually rated voltage 1000V and below) to distribute, control and protect power. It includes components such as circuit breakers, current transformers, voltage transformers, protective relays, etc. that are used to manage current and voltage in electrical systems. Medium voltage switchgear is used in electrical systems in the medium voltage range (usually between 1kV and 38kV rated voltage). Medium-voltage switchgear is used to control, protect and distribute power. Its structure and principle are different from low-voltage switchgear to adapt to higher voltage levels. A Motor Control Center (MCC) is an electrical device that centrally controls and protects multiple motors. It typically contains motor starters, circuit breakers, control circuits, instruments and other components related to motor operation and protection. MCCs are widely used in industrial and commercial areas for motor control in automated production lines, factories and buildings. In an integrated electrical system, MCCs are often used as part of low and medium voltage switchgear systems. MCCs are used for motor control, while low and medium voltage switchgear are used for power distribution and protection throughout the electrical system. The synergy of the two helps ensure stable operation and efficient performance of electrical systems.

Market Overview:

The latest research study on the global Low and medium voltage switchgear with MCC market finds that the global Low and medium voltage switchgear with MCC market reached a value of USD 11172.08 million in 2023. It’s expected that the market will achieve USD 13705.02 million by 2029, exhibiting a CAGR of 3.46% during the forecast period.

The global low-voltage and medium-voltage switchgear industry with MCCs has experienced continuous development over the past few years, primarily driven by trends in industrial automation and digitalization. With the growth of the global economy, the demand for electrical equipment in various industries has also increased accordingly, including low-voltage and medium-voltage switchgear, especially equipment with motor control centers (MCC). The growth of this industry is driven by the upgrade and expansion of energy infrastructure, especially in emerging markets and developing countries. At the same time, the increasing demand for the reliability, efficiency and safety of electrical systems has prompted manufacturers to continuously introduce advanced technologies and intelligent solutions. This includes the integration of remote monitoring, fault diagnosis, predictive maintenance and other functions to improve the performance and management level of switch cabinets.

Analysis of the development pain points of the low-voltage and medium-voltage switchgear industry with MCC

Diversity of standards and specifications: The MCC industry needs to adapt to the standards and specifications of different countries and regions, which increases the complexity of product design and production. Companies need to ensure that products meet diversity standards, which may lead to increased costs for R&D and production. Electrical and functional safety standards ensure that switchgear meets specific requirements for safe operation and protection against electrical hazards. These standards cover aspects such as proper insulation, grounding, circuit protection and the use of reliable components. Meeting these standards is critical to preventing electrical accidents, equipment failure, and potential injury to personnel. Complying with these standards requires careful design, component selection and testing of fixed switchgear. Manufacturers are required to conduct thorough evaluation and testing to ensure that their products meet the required electrical and functional safety standards and requirements. Meeting these standards often involves additional design considerations, specialized components and testing procedures, which can increase manufacturing complexity and cost. In addition, electrical and functional safety and related standards and regulations are regularly updated and revised. Manufacturers need to stay up to date with the latest standards and ensure ongoing compliance with any changes or new requirements.

Analysis of development opportunities in the low-voltage and medium-voltage switchgear industry with MCC

The global low-voltage and medium-voltage switchgear market with MCC is expected to witness steady growth in the coming years, driven by the growing concern about electrical safety and the need for reliable power distribution. These switchgears are an important part of the electrical system, providing protection and control for the circuits. As industrial and infrastructure projects continue to expand, the demand for these switchgear panels is expected to rise. Additionally, the market is characterized by an increasing emphasis on energy efficiency and the adoption of smart technologies. Manufacturers are developing low-voltage switchgear that consumes less energy and offers advanced monitoring and control capabilities. This trend is driven by growing awareness of environmental sustainability and the need to optimize energy use across various sectors. Overall, the global low-voltage and medium-voltage switchgear market with MCC is expected to grow owing to the growing demand for electrical safety and integration of smart technologies.

Region Overview:

Asia Pacific will hold the largest market share in 2022.

Company Overview:

ABB Group
ABB is in the power and automation technology business. The company offers a range of products, systems, solutions and services. Its power business focuses on transmission, distribution and power plant automation, serving electric, gas and water companies as well as industrial and commercial customers. Its automation business provides measurement, control, protection and process optimization applications for a variety of industries.

Schneider Electric

Schneider Electric is a French multinational company focused on digital automation and energy management. It solves homes, buildings, data centers, infrastructure and industrial problems by combining energy technology, real-time automation, software and services.

ABB Group is one of the major players in the market, holding 24.86% market share in 2023.

Segmentation Overview:

By type, the low-voltage switchgear segment held the largest market share in 2022.

Application Overview:

By application, the power system application market accounted for the largest market share in 2022.

Key Companies in the global Low and medium voltage switchgear with MCC market covered in Chapter 3:

Rittal GmbH & Co. KG
Powell Industries
Takaoka Toko
Fuji Electric
Siemens
WEG
ABB Group
Mitsubishi Electric
alfanar Group
LS Electric
Eaton
Schneider Electric

In Chapter 4 and Chapter 14.2, on the basis of types, the Low and medium voltage switchgear with MCC market from 2019 to 2030 is primarily split into:

low voltage switch box
Medium voltage switchgear

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Low and medium voltage switchgear with MCC market from 2019 to 2030 covers:

Power Systems
Petrochemical
Metallurgical manufacturing
other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)