Commercial Panel Mounted Disconnect Switch Market size was USD 924.2 million in 2024 and is estimated to reach USD 2.2 billion by the end of 2037, expanding at a CAGR of 6.9% during the forecast period, i.e., 2025-2037. In 2025, the industry size of commercial panel mounted disconnect switch will be valued at USD 987.9 million.
The rapidly increasing industrialization activities and utilities are augmenting the sales of commercial panel mounted disconnect switches. Industries are investing heavily in advanced panel mounted switch technologies due to their high safety, reliability, and overall efficiency. In the utility sector, they aid in power stabilization and prevention of energy failure during high demand or load shedding respectively.
Industries such as automotive, food and beverages, electronics, and pharma are also adopting automated solutions including modern panel mounted disconnect switches, which is directly influencing the market growth. Furthermore, the boom in construction and infrastructure development projects worldwide is driving high demand for electrical components including disconnect switch technologies. For instance, the proposed Australia-Asia Power Link (AAPowerLink) project is set to drive high demand for panel mounted disconnect switches in the coming years. Such projects are generating lucrative opportunities for commercial panel mounted disconnect switch manufacturers to earn high profits.
Growth Drivers:
Challenges:
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.9% |
|
Base Year Market Size (2024) |
USD 924.2 million |
|
Forecast Year Market Size (2037) |
USD 2.2 billion |
|
Regional Scope |
|
Voltage (Low (≤ 11 kV), Medium (> 11 kV - 33 kV), High (> 33 kV))
The high-voltage commercial panel mounted disconnect switch market is foreseen to capture 44.4% revenue share by 2037. The adoption of renewable energy sources such as solar and wind is leading to the increasing demand for robust electrical components including, disconnect switches to manage high-voltage connections. High voltage panel mounted disconnect switch systems are exhibiting high demand in solar lighting technologies as they aid in effectively preventing over-voltage situations that can hamper the system or lead to fire hazards. Advanced functionality, extra layer of protection, and high performance are fuelling the use of high voltage commercial panel mounted disconnect switches in the renewable energy sector.
Product (Fused, Non-Fused)
The non-fused commercial panel mounted disconnect switch market is estimated to hold 67.5% of revenue share by 2037. The non-fused commercial panel mounted disconnect switch systems offer a reliable means to isolate electrical circuits, leading to high safety during maintenance and servicing. Non-fused disconnect switches also comply with various electrical codes and standards, ensuring safe operations in commercial settings. The ongoing technological advancements are leading to the development of advanced, compact, and customizable non-fused commercial panel mounted disconnect switches.
Our in-depth analysis of the commercial panel mounted disconnect switch market includes the following segment
|
Voltage |
|
|
Product |
|
Asia Pacific Market Forecast
The Asia Pacific commercial panel mounted disconnect switch market is anticipated to account for a revenue share of 31.7% through 2037 owing to rapid industrial activities and increasing adoption of renewable energy sources. The rising investments in infrastructure development and commercial construction projects are pushing the sales of advanced panel mounted disconnect switches. For instance, the Bhadla Solar Park located in India is the third biggest solar power plant project in the world as of 2024. Some of the high-growth marketplaces in Asia Pacific are China, India, Japan, and South Korea.
China’s consistent rise in industrial activities particularly in manufacturing and construction is driving high demand for efficient electrical systems including panel mounted disconnect switches. The country is witnessing high electricity demand in data center, transport, and residential sectors contributing to increasing sales of disconnect switches. For instance, according to the International Energy Agency, the electricity demand reached 6.4% in 2023.
In India, the rising urbanization and growing renewable energy projects are significantly influencing the sales of panel mounted disconnect switches. The India Brand Equity Foundation estimates that the country is the 3rd largest producer and consumer of power worldwide, with an installed capacity of 442.85 GW. According to the National Infrastructure Pipeline 2019-2025 estimations, energy projects account for 24% of the total capital expenditure. Furthermore, in the interim budget for 2024-2025, the solar power grid infrastructure development captured a fiscal allocation of USD 1.o2 billion.
North America Market Statistics
The North America market is projected to expand at the fastest pace during the forecast period owing to rapid digitalization among several industries and the presence of key market players. The market players in North America are continuously investing in R&D to develop innovative commercial panel mounted disconnect switch technologies. The investments in upgrading electrical infrastructure in the region are also fuelling the sales of reliable electrical components including panel mounted disconnect systems.
In the U.S., the government’s investments in infrastructure and urban development projects are fuelling the demand for advanced electrical systems including disconnected switches. For instance, the Vogtle Electric Generating Plant located in Georgia has a power capacity of 4,536 megawatts and is one of the largest nuclear power plants and the source of low-carbon electricity in the country. Furthermore, strict safety and environmental regulations are also driving the adoption of advanced energy-efficient solutions such as safety or load breaker switches.
Key players in the commercial panel mounted disconnect switch market are employing several organic and inorganic strategies to earn high profits. The industry giants are investing in research and development activities to introduce smart panel mounted disconnect switches. They are also collaborating with other players and technology firms to enhance their product folio and expand market reach. Furthermore, leading companies are entering emerging markets to boost their customer base and sales.
Some of the key players include:
Author Credits: Dhruv Bhatia
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?