Brazil Low Voltage Components Market Research Report Forecast to 2030
The Brazil low voltage components market is rapidly growing due to the requirement of protection of electrical systems with low voltage switchgear, and the growing advantages of low voltage components. Furthermore, the growing adoption of smart grids and increased installation of photovoltaic solar energy projects are likely to present a growth opportunity for the players in the market. Low voltage systems are comprised of electrical equipment that uses 50 volts (V) of electricity or less. The components comprise sssMCB, MCCB, ACB, Motor CB, RCCB, SPD, switch disconnectors, fuse and transfer switches, automatic transfer switches, fuses, contactors, soft starters, meters, pushbuttons, light indicator, and relays.
The Brazil low voltage components market is expected to be driven by the requirement of protection of electrical systems with low voltage switchgear. However, the high cost of installation and the requirement for skilled manpower will likely restrain the market. On the other hand, the growing adoption of the smart grid is expected to create growth opportunities for players operating in the market.
Market SegmentationThe Brazil low voltage components market has been segmented based on industry and product. Based on industry, the Brazil low voltage components market has been segmented into building, utilities, solar photovoltaic, mining, mineral and meta, F&B, transport infrastructure, automotive, agribusiness, data center, healthcare (hospital), oil & gas (petrochemical), others. The building segment is expected to grow at 4.7% CAGR during the forecast period. In 2021, the building segment held 13.6% of the Brazil low voltage components market.
Based on product, the Brazil low voltage components market has been segmented into MCB, MCCB, ACB, Motor CB, RCCB, SPD, Switch Disconnectors, Fuse and Transfer Switches, Automatic Transfer Switches, Fuses, Contactors, Inverters (Variable Speed Drives), Soft Starters, Meters, Pushbuttons, Light Indicator, and Relays (Thermal, Auxiliary, Interface). The meters segment is expected to grow at 3.7% CAGR during the forecast period. In 2021, the meters segment held a 12.2% share of the Brazil low voltage components market.
Major PlayersABB, Siemens, Schneider Electric, WEG, Rockwell Automation, Mitsubishi Electric, Tee Electric Components, TUV Rheinland, Eaton, Dekra Certification B.V are the major players in the market.
Companies MentionedABB
Siemens
Schneider Electric
WEG
Rockwell Automation
Mitsubishi Electric
Tee Electric Components
TUV Rheinland
Eaton
Dekra Certification B.V
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