The global load switch market size was approximately USD 2.32 billion in 2018

MarketsandMarkets, the world's second largest market research institution, recently released a report that the global load switch market is expected to reach $2.
32 billion
in 2018.

With the upgrading of aging power infrastructure and increasing investment in power distribution, the global load switch market is expected to increase to $3.
12 billion by 2023, with a compound annual growth rate of 6.
16%
during the period.

In addition, growing renewable energy generation will increase the demand
for load disconnect switches.
Emerging markets in Asia Pacific present an excellent opportunity
for the load switch market due to significant government policy initiatives to promote renewable energy generation and refurbish aging power infrastructure.

Based on load type, the load switch market is segmented into four main types
: gas insulated, vacuum, air insulated, and oil immersed.
Gas-insulated load switches are estimated to lead the global market
in 2018.
Due to the characteristics of simple installation, long life cycle, and long electromechanical life, gas-insulated load switches are expected to grow
at the fastest rate during the forecast period.
In Asia Pacific, the main demand for gas-insulated load switches comes from power companies
.

Based on installation, the outdoor segment occupied the largest market size
in 2017.
Outdoor switches can also deploy outdoor distribution transformers
up to 36 kV.
These switches have flexible mounting and mounting configurations, and these factors are expected to drive the outdoor segment
of the load disconnect switch market through installation.

From a regional perspective, the Asia-Pacific market is expected to lead the global load disconnect switch market
by 2023.
The market size in the region can be attributed to the growing focus on the power distribution industry
.
Countries such as China, Japan, and India are key markets
for load disconnect switches in the Asia-Pacific region.
The renovation of aging power infrastructure in the region is expected to drive the market demand growth
across the Asia-Pacific region.

It should be noted that the reduction in investment by oil and gas companies has adversely affected the demand for medium-voltage equipment used in distribution networks, as load switches are mainly used in the oil and gas industry, substations and transformers for remote power
distribution.
Due to the decline in investment, the oil and gas industry has not carried out new projects
.
Therefore, the cancellation of new oil and gas projects will result in no new oil and gas plants, resulting in lower
demand for medium-voltage products such as load switches.
As a result, this will lead to a decline
in the demand for load switches from oil and gas end-users.

From the perspective of enterprises, General Electric of the United States, Siemens of Germany, Schneider of France, Eaton of Ireland and ABB of Switzerland will become the main suppliers
of the world's five major load switch markets.