DUBLIN--(BUSINESS WIRE)--The "Europe Load Break Switch and Recloser Market (2018-2024): Market Forecast by Voltage Rating, by Insulation Type, by Applications, By End User, by Countries, and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Europe Load Break Switch and Recloser Markets are projected to grow at a CAGR of 3.0% and 3.4%, respectively during 2018-24.
Load Break Switch & Recloser market in Europe would register substantial growth over the next six years with a huge investment in power generation and distribution sector to cater to the increasing power demand in the region.
Furthermore, to achieve aggressive emission reduction targets, the European Union countries are making a significant improvement in renewable energy infrastructure to increase the proportion of renewable energy in the overall energy mix to at least 27% by 2030. To achieve this target there would be a huge inflow of capital in power generation and transmission infrastructure which in turn would also drive the demand for Load Break Switch and Recloser during the forecast period.
To integrate the energy market and to meet the energy and climate goals, the European Commission has estimated that around 200 billion is needed during the current decade for transmission grids and gas pipeline which would ultimately drive the demand for recloser and load break switches during the forecast period. Additionally, due to growing environmental concerns, countries such as Russia, the UK and Germany are trying to increase their renewable power generation capacity. Russia has set a target to increase renewable share up to 11.3% from the existing capacity of 3.6%, by the end of the year 2030 while U.K is aiming to achieve final energy consumption of 15% through renewable sources by 2020, which is further likely to drive the European load break switch and recloser market over the next six years.
In Europe, gas insulated (SF6) load break switch and recloser are the key contributor towards the overall market and would also capture a major share of the market over the coming years. This growth is primarily due to certain key features such as better cooling effect and heavy built.
Markets Covered
By Voltage Ratings:
- < 27 KV
- 27 KV and Above
By Insulation Types:
- Gas
- Vacuum
- Others
By Applications:
- Power Distribution
- Industrial
By End Users:
- Distribution Utilities
- Others (Railway and Industrial)
For more information about this report visit https://www.researchandmarkets.com/research/h45mjf/europe_load_break?w=4
