Africa Low Voltage Switchgear Market (2023-2029) | Share, Revenue, Value, Forecast, Growth, Industry, Trends, Analysis, Companies & Size

Africa Low Voltage Switchgear Market Size & Growth Rate

The Africa Low Voltage Switchgear Market is projected to grow at a CAGR of 5.4% from 2023 to 2029. Market growth is driven by major government initiatives and investments across the continent aimed at expanding residential, commercial, and industrial infrastructure.

Africa Low Voltage Switchgear Market Synopsis

The Africa Low Voltage Switchgear Market experienced growth before the pandemic, on account of government initiatives towards residential sectors to tackle the housing deficit in the continent such as the Upgrading of Informal Settlements by the South African government and the National Housing Program by the Nigerian government, along with the Affordable Housing Program by the Ghanaian government and several others. However, in 2020, the market declined due to COVID-19 restrictions on construction activities. Fortunately, the market recovered in the post-pandemic period, driven by major infrastructure projects, including the investment of $5.4 billion under the National Department of Human Settlements plan in 2022 by the South African government, the $2.3 billion development plan for various housing and commercial infrastructure projects by the Ghana government in 2022, among others. Additionally, the construction of 123 new cities in Africa over the next two decades, with an estimated cost of up to US$150 billion, is expected to further drive the expansion of the Low Voltage Switchgear Market in Africa.

According to 6Wresearch, Africa Low Voltage Switchgear Market revenue size is anticipated to grow at a CAGR of 5.4% during 2023-2029. The Low Voltage Switchgear Market in Africa is anticipated to experience growth in the forecast period due to increased infrastructure investments and new city construction. Several African governments are making noteworthy investments in diverse infrastructure projects, such as the $980 million redevelopment of Sheger in Ethiopia, the $14 billion Dangote Oil Refinery project in Nigeria, $5.8 billion investment in a Hydroelectric Power Project in Nigeria and others. Furthermore, the burgeoning investment in the hospitality sector, highlighted by the expansion of hotels with 1,837 new rooms by 2024, and substantial budget allocations like Kenya's $2.1 billion for infrastructure enhancement and Ethiopia's $4.2 billion investment to construct 500,000 affordable homes by 2026 at a target of 100,000 homes annually, are expected to further drive the market of LV switchgear in the region.

Market by Types

MCB (Miniature Circuit Breaker) acquired the major share in Africa Low Voltage Switchgear Industry attributed to the impressive expansion of the residential sector. This growth is a direct result of strategic investments made by several African nations to address housing deficits. Notably, countries like Nigeria, Kenya, and Ghana are experiencing substantial progress, with an annual increase of 350,000, 200,000, and 100,000 housing units respectively.

Market by Applications

The Africa low-voltage switchgear market has seen a predominant share held by the residential and commercial sector, primarily attributed to a substantial surge in housing construction activities across the continent. For instance, notable instances include South Africa's allocation of $5.4 billion through the National Department of Human Settlements plan in 2022, the Ghanaian government's $2.3 billion development strategy for diverse housing and commercial infrastructure projects, and the Kenyan government's sanctioned budget of KSh19 billion ($138.4 million) for housing in the fiscal year 2022/23. These investments, alongside others made by various African nations, are poised to generate an escalated demand for low-voltage (LV) components in the forthcoming years.

Market by Countries

South Africa garnered the highest revenue share in Africa LV Switchgear market being the most developed and diversified economy in Africa along with well-established commercial and industrial sectors, which drives significant demand for LV switchgear products. The swift urbanization and concurrent expansion within the real estate sector, demonstrated through initiatives such as the introduction of the Glenhaven social housing project in 2022, focused on erecting over 2000 residences in Cape Town within the ensuing three years, coupled with the South African government's proclamation of an infrastructure outlay surpassing R810 billion ($42 billion) across the forthcoming three years to accommodate the burgeoning populace and escalating business endeavors, are positioned to enhance the switchgear market.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Africa Low Voltage Switchgear Market Overview
• Africa Low Voltage Switchgear Market Outlook
• Africa Low Voltage Switchgear Market Forecast
• Historical Data and Forecast of Africa Low Voltage Switchgear Market Revenues for the Period 2019-2029F
• Historical Data and Forecast of Africa Low Voltage Switchgear Market Revenues, By Types, for the Period 2019-2029F
• Historical Data and Forecast of Africa Low Voltage Switchgear Market Revenues, By Applications, for the Period 2019-2029F
• Historical Data and Forecast of Africa Low Voltage Switchgear Market Revenues, By Countries, for the Period 2019-2029F
• Market Drivers and Restraints
• Industry Life Cycle
• Porter’s Five Force Analysis
• Impact Analysis of Covid-19
• Market Trends
• Africa Country-wise Low Voltage Switchgear Market Revenue Ranking, By Companies
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

Thereportprovides a detailed analysis of the following market segments:

By Types

• MCB
• MCCB
• RCD (Residual Current Device)
• ACB
• DB’s (Distribution Board)
• Contactors and Relays

By Applications

• Residential
• Commercial
• Industrial
• Power Utilities
• Metal & Mining

By Countries

• Nigeria
• South Africa
• Kenya
• Ghana
• Ethiopia
• Tanzania