Global SF6 Load Break Switches Market trend
SF6 Load Break Switches is mainly used in complex substations to operate under fluctuating operating voltages under unstable environmental conditions. The development of new industrial infrastructure, including power plants for reliable and safe operation, is expected to further drive the market growth. Increasing investment in developing renewable energy and favorable regulations by the government to support new technologies is expected to boost the industry landscape.
Low-voltage dominates the market structure, with revenue of US$51.49 billion in 2022 and a market share of 55.14%. Furthermore, it is expected to witness the fastest growth with a CAGR of 5.35% during 2022-2026. By end user, the industrial sector has the largest share with a share of 52.75% in 2020. The residential segment is expected to register the highest CAGR of 5.56% during the forecast period.
According to the IEA's World Energy Investment Report 2022, multiple support policies and proven technologies are enabling affordable access to market-leading capital. Dramatic cost reductions over the past decade have made solar PV cheaper than new coal- or gas-fired power plants. By 2030, renewable energy is expected to meet 80% of the growth in global electricity demand, with hydropower becoming the largest source of renewable electricity.
Increasing competition from the unorganized sector and lack of standardization and design parameters have negatively impacted product quality and the overall growth of the industry. The market studied is also witnessing a growing trend of customization, which has been hindering the Load Break Switches market. Low-quality products are the cause of many fires due to short circuits. This trend is mainly occurring in developing countries such as India.
The Load Break Switches market has been severely impacted by the COVID-19 pandemic as key suppliers of raw materials and final products have been severely affected. The industry faces production declines, supply chain disruptions and price volatility. The market has also been affected by the impact of COVID-19 on the energy sector, as the economic shock caused by the pandemic has negatively impacted investments in the sector. Energy investment is expected to see the biggest drop in 2022 due to the COVID-19 pandemic, with capital spending falling by 20% year-on-year, or about $400 billion, according to estimates from the International Energy Agency.
ABB has released an environmentally friendly medium voltage Load Break Switches with load brake that uses an alternative to SF6 gas. Load break switches are widely used in medium voltage secondary Load Break Switches and ABB manufactures switches using Airplus, a fluoroketone based gas mixture with a GWP 99.9% lower than SF6. So be safe and comply with the circular economy.
Medium voltage Load Break Switches is also widely used in the mining sector for added protection during direct medium voltage supply. Iron ore mining projects, with at least 2 million tons per year, drive demand and investment in medium voltage Load Break Switches as it increases protection for operators and internal short circuits in equipment.
High-voltage Load Break Switches, also known as high-voltage Load Break Switches, can handle voltage capacities in excess of 36 kV. Therefore, these Load Break Switchess also produce high arches and are mainly used in industries such as power grids, mining, oil and gas industries, heavy industry, petrochemicals, utilities, water treatment plants, data centers, healthcare, and pulp and paper.
In addition, urban projects and investments in Wenzhou are also driving the growth of high-voltage Load Break Switches.
Asia Pacific Load Break Switches market demand
Asia Pacific dominates the market landscape with a 40.84% share. The region will generate $38.13 billion in revenue in 2022. Asia Pacific is also expected to register the fastest CAGR of 6.01% during the forecast period.
In 2022, the industrial sector generates nearly 30.8% of China's GDP. In addition, with a focus on factory automation, leading players such as Fanuc have invested US$240 million to expand their Shanghai factories. Likewise, several other companies are making huge investments in industry upgrades after Industry 4.0. Such investments are expected to increase the demand for industrial Load Break Switches in the industry.
Furthermore, the relevant end-users of the market are studied; namely power utilities, industrial sites, and related service and infrastructure sectors, which are gradually leading to the integration of renewable energy installations as the network continues to expand.
What is SF6 gas-insulated load break switch?
SF6 load break switch, SF6 gas has excellent electrical and mechanical properties and offers many advantages over other dielectrics. Switches can be operated manually or through various distribution automation packages.
SF6 gas-insulated load -break switches (LBS) for overhead lines operate at voltages up to 24kV. It uses SF6 gas for oil-free and maintenance-free operation, with associated components and equipment housed in its sealed stainless steel tank.
JGGY electrical has 12kv, 24kv, 36kv, SF6 LBS, indoor, outdoor.
Ms Miya: sales@jggyelectrical.com
Whatsapp: +86 181 0679 6660
