Rising Demand of Power Provide High Growth Opportunities for Disconnector Switch Market
The global market for disconnect switch is expected to grow at a CAGR of 6.89% from 2015 to 2020. The increasing transmission and distribution network expenditure, growing infrastructural and industrial developmental activities, and rising safety concerns are some of the key drivers of this market. The demand for electricity is increasing in the developed nations in North America and Europe, as well as in fast-growing economies in Asia-Pacific. Thus, there has also been a consequent rise in the generation, transmission, and distribution of electricity to meet this increased demand. This in turn gives rise to the growth of the markets for the associated components, such as switchgear, circuit breaker, disconnector switch, and so on. The market for disconnect switch is expected to witness significant growth, especially in developing countries, where the transmission and distribution industry is in the growth stage. Disconnector switches are also used in transmission lines, substations, urban transportation, and heavy manufacturing.
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