DIN-Rail Low Voltage Panel Market, by type (fused & Non-fused), By Mount (Panel, DIN Rail & others), By voltage (0-240 V, 240-480 V, 480-690 V), By End User (Industrial & commercial), By Application (Electricity, Mechanical Equipment, Rail Transmit, Telecommunications, Automation, Solar Energy, Others), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
DIN-Rail Low Voltage Panel Market Overview
The global DIN-Rail Low Voltage Panel market size was estimated at USD 3.85 billion in 2023 and is projected to reach USD 5.3 billion in 2030 at a CAGR of 4.7% during the forecast period 2023-2030.
Rising global transmission and distribution costs, increasing infrastructure and industry development, and increasing safety concerns will impact the low voltage panel market. These factors are expected to drive the growth of the low voltage disconnect switch market.
The report also segments the Low Voltage panel market on the basis of Type; fused and unfused. The market for non-fuse circuits is expected to grow rapidly due to the increase in industrial activity in developing countries. The global market share of fuse able circuit breakers is decreasing, as this type is being replaced by fuseless circuit breakers due to the use of other protective devices in combination with disconnecting switches.
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In terms of mounting techniques, the two most commonly used configurations for mounting disconnect switches are panel mount and DIN rail mount. DIN rail mount dominated the low voltage switchgear market in 2022 and is expected to maintain its dominant position during the forecast period.
Delvens Industry Expert's Standpoint
The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. Global shutdown of companies led to a great shortage of DIN low voltage panels. Since then, Countries in the region are undertaking many smart grid and substation projects as per the standards to fulfill the growing demand for energy which would create a gret demand for global DIN rail low voltage panels.
Key Findings
- Increased use of alternative energy sources, especially solar energy, has contributed significantly to the low voltage panel market CAGR. The market for low-voltage panels is expected to grow as solar power generation, one of the greenest forms of energy production, becomes more common. Several governments have developed favorable policies for the development of solar energy infrastructure. Low voltage panels protect the solar system at every stage. The development of solar panel technology has made it possible to produce electricity even in weak sunlight. At the same time, solar panel manufacturers have lowered the prices of solar panels.
- In the mount segment, Rail Transmit is the largest type of the DIN Rail low voltage panels market and is expected to dominate the global demand throughout the forecasted period. The large share of this segment can be attributed to the increasing usage of rail transmit in various industries such as automobiles, railways, power transmission & distribution (T&D), etc., which require high-voltage and low-voltage distribution.
- The use of DIN Rail low voltage panels Market in Electricity is the highest application segment. The use of DIN Rail Terminal Blocks Market in Electricity applications include building automation, industrial control, solar inverter systems, distribution boards & enclosures, UPS rack Power Management equipment, etc. The trend has been observed in almost all developing as well as developed economies which increase the use of electricity.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period. The high demand for rail transit in the US is the major factor responsible for its large regional share.
DIN-Rail Low Voltage Panel Market Regional Analysis
North America to Dominate the Market
- North America is estimated to account for the largest market share during the forecast period. The major reason for the growth in this region is that the increasing need for rail transit is expected to be a key driver of DIN Rail Terminal Blocks in North America.
DIN-Rail Low Voltage Panel Market Competitive Landscape
- Eoton Corporation
- ABB Ltd
- Schneider Electric SA
- Siemens AG
- Autodesk, Inc.
- Bosch Software Innovations GmbH
- Cuebiq Inc.
- ESRI
- HERE Technologies
- MDA Corporation
- Navizon, Inc.
- Precisely
- Qualcomm Technologies, Inc
- Supermap Software Co., Ltd
- Tibco Software, Inc.
- Trimble, Inc.
- Trueposition, Inc.
- Wireless Logic
- Socomec
- Salzer Electronics Ltd
- Katko
- Ensto
- General Electric
- Benedict GmbH
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DIN-Rail Low Voltage Panel Market Recent Developments
- In June 2022, TE Connectivity built a new building for Energy Industry Production in Mexico. The new building almost doubles TE's production capacity for solar products, power grid connections, and cable accessories for the expanding renewable energy industry in the Americas. A more dependable and sustainable electricity grid is made possible by the goods produced at this site.
- In April 2022, Panasonic Corporation introduced PhotoMOS CC TSON 1 Form B semiconductor relays with a small TSON package, built-in capacitor coupled isolation driver IC, and an oscillation circuit. These relays require low current and flow voltage instead of current at its input side.
- In January 2020, Fuji Electric Co., Ltd (Japan), acquired Consul Neowatt Power Solutions Private Limited (CNPS), a major power electronics manufacturer in the country. The company plans to expand its power electronics systems business in India.
Reasons to Acquire in the DIN-Rail Low Voltage Panel Market
- Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
- Gain authentic and granular data access for the DIN-Rail Low Voltage Panel Market to understand the trends and the factors involved in changing market situations.
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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