ASEAN Low Voltage Switchgear Market (2023-2029) | Trends, Analysis, Forecast, COVID-19 IMPACT, Size, Growth, Share, Industry, Value, Revenue & Companies

Market Forecast By Types (MCB, MCCB, RCD (Residual Current Device), ACB, DB’s (Distribution Board), Contactors and Relays), By Applications (Residential, Commercial, Industrial, Power Utilities, Transportation and Infrastructure), By Countries (Malaysia, Thailand, Indonesia, Singapore, Philippines, Vietnam) and competitive landscape

Product Code: ETC4624275 Publication Date: Nov 2023 Product Type: Market Research Report
Publisher: 6Wresearch No. of Pages: 445 No. of Figures: 15 No. of Tables: 45

ASEAN Low Voltage Switchgear Market Synopsis

Between 2019 and 2022, the ASEAN Low Voltage Switchgear Market saw robust expansion, primarily attributed to growth in residential, commercial, and other construction projects. Nonetheless, the market encountered setbacks in 2020 due to the COVID-19 pandemic, leading to supply chain disruptions and a temporary construction halt. For instance, Indonesia's construction industry witnessed a contraction of 2.9% in Q1 2020 and -5.39% in Q2 2020. Despite these challenges, the ASEAN region's burgeoning infrastructure development remains a driving force behind the demand for low-voltage switchgear products. Additionally, a noteworthy trend is the focus of ASEAN countries on fostering a green economy and launching renewable energy projects. These initiatives are poised to further fuel the demand for low-voltage switchgear throughout the forecast period.

ASEAN Low Voltage Switchgear Market

According to 6Wresearch, the ASEAN Low Voltage Switchgear market size is anticipated to grow at a CAGR of 8.4% respectively during 2023-2029. The impending creation of Indonesia's new capital city, Nusantara, holds the potential for the construction of 184 residential towers in the foreseeable future. Concurrently, there are plans to construct 1,601 housing units, with a target completion date set for Q2 2025 with an investment of approximately $246 million. Furthermore, Vietnam's government is actively working on introducing more than 1 million residences for individuals with lower incomes by the year 2030. Additionally, Singapore's landscape is poised for commercial advancement, anticipating an influx of 4.2 million square feet in office supply within the span from 2023 to 2025. Such large-scale projects are poised to generate demand for switchgear in the coming years.

Market by Types

MCB has accounted highest revenue share in ASEAN low voltage switchgear industry owing to its wide usage in residential, commercial and other sectors. Further, growing demand of residential units, establishment of commercial offices, hotels among other infrastructural development would escalate the demand of MCB in low voltage switchgear market.

ASEAN Low Voltage Switchgear Market

Market by Applications

Within the ASEAN low voltage switchgear market, the residential sector has emerged as a dominant revenue contributor. This is attributed to the considerable number of flats completed by The Housing and Development Board (HDB) in Singapore in 2022, coupled with the successful completion of high-end condominiums in Malaysia and Indonesia. Additionally, the governments' ambitious initiatives to construct millions of affordable houses in countries like the Philippines and Vietnam are poised to substantially enhance the demand for low voltage switchgear products within the residential sector in the years ahead.

Market by Countries

Indonesia has garnered maximum revenue share in low voltage switchgear market of ASEAN as the country has accounted highest completion of new condominiums units in 2022 which was up by 7.6% annually. Further, development of new capital city and rising tourism would lead to new supply of hotels and thus, would contribute towards the demand of low voltage switchgear products in the country.

ASEAN Low Voltage Switchgear Market

Key Attractiveness of the Report

  • COVID-19 Impact on the Market.
  • 11 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

  • ASEAN Low Voltage Switchgear Market Overview
  • ASEAN Low Voltage Switchgear Market Outlook
  • ASEAN Low Voltage Switchgear Market Forecast
  • Historical Data and Forecast of ASEAN Low Voltage Switchgear Market Revenues for the Period 2019-2029F
  • Historical Data and Forecast of ASEAN Low Voltage Switchgear Market Revenues, By Types, for the Period 2019-2029F
  • Historical Data and Forecast of ASEAN Low Voltage Switchgear Market Revenues, By Applications, for the Period 2019-2029F
  • Historical Data and Forecast of ASEAN 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
  • ASEAN Country-wise Low Voltage Switchgear Market Revenue Ranking, By Companies
  • Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Market Scope and Segmentation

The report provides 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
  • Transportation and Infrastructure

By Countries

  • Malaysia
  • Thailand
  • Indonesia
  • Singapore
  • Philippines
  • Vietnam
Frequently Asked Questions About the Market Study (FAQs):

How much growth is estimated in ASEAN Low Voltage Switchgear Market?

The ASEAN Low Voltage Switchgear market size is anticipated to grow at a CAGR of 8.4% respectively during 2023-2029.

Why is the ASEAN Low Voltage Switchgear Market attaining growth?

The ASEAN Low Voltage Switchgear Market is attaining robust expansion, primarily attributed to growth in residential, commercial, and other construction projects.

Which nation accomplished highest revenue share in the market?

Indonesia has garnered maximum revenue share in low voltage switchgear market of ASEAN as the country has accounted highest completion of new condominiums units in 2022 which was up by 7.6% annually.

Which segments are covered in this market report?

Segments that are covered in this market report are by types, applications, and countries.

1. Executive Summary

2. Introduction

2.1 Key Highlights of the Report

2.2 Report Description

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3. ASEAN Low Voltage Switchgear Market Overview

3.1 ASEAN Low Voltage Switchgear Market Revenues, 2019-2029F

3.2 ASEAN Low Voltage Switchgear Market Industry Life Cycle

3.3 ASEAN Low Voltage Switchgear Market Porter’s Five Forces

3.4 ASEAN Low Voltage Switchgear Market Revenue Share, By Types, 2022 & 2029F

3.5 ASEAN Low Voltage Switchgear Market Revenue Share, By Applications, 2022 & 2029F

3.6 ASEAN Low Voltage Switchgear Market Revenue Share, By Countries, 2022 & 2029F

4. Impact Analysis of Covid-19

5. ASEAN Low Voltage Switchgear Market Dynamics

5.1 Impact Analysis

5.2 Market Drivers

5.3 Market Restraints

6. ASEAN Low Voltage Switchgear Market Trends & Evolution

7. Malaysia Low Voltage Switchgear Market Overview

7.1 Malaysia Low Voltage Switchgear Market Revenues (2019-2029F)

7.2 Malaysia Low Voltage Switchgear Market Revenue Share and Revenues, By Types (2019-2029F)

7.2.1 Malaysia Low Voltage Switchgear Market Revenues, By MCB (2019-2029F)

7.2.2 Malaysia Low Voltage Switchgear Market Revenues, By MCCB (2019-2029F)

7.2.3 Malaysia Low Voltage Switchgear Market Revenues, By RCD (2019-2029F)

7.2.4 Malaysia Low Voltage Switchgear Market Revenues, By ACB (2019-2029F)

7.2.5 Malaysia Low Voltage Switchgear Market Revenues, By Distribution Board (2019-2029F)

7.2.6 Malaysia Low Voltage Switchgear Market Revenues, By Contactors and Relays (2019-2029F)

7.3 Malaysia Low Voltage Switchgear Market Revenue Share and Revenues, By Applications (2019-2029F)

7.3.1 Malaysia Low Voltage Switchgear Market Revenues, By Residential (2019-2029F)

7.3.2 Malaysia Low Voltage Switchgear Market Revenues, By Commercial (2019-2029F)

7.3.3 Malaysia Low Voltage Switchgear Market Revenues, By Industrial (2019-2029F)

7.3.4 Malaysia Low Voltage Switchgear Market Revenues, By Power Utilities (2019-2029F)

7.3.5 Malaysia Low Voltage Switchgear Market Revenues, By Transportation & Infrastructure (2019-2029F)

7.4 Key Performance Indicators

7.5 Malaysia Low Voltage Switchgear Market Opportunity Assessment

7.5.1 Malaysia Low Voltage Switchgear Market Opportunity Assessment, By Types (2029F)

7.5.2 Malaysia Low Voltage Switchgear Market Opportunity Assessment, By Applications (2029F)

8. Thailand Low Voltage Switchgear Market Overview

8.1 Thailand Low Voltage Switchgear Market Revenues (2019-2029F)

8.2 Thailand Low Voltage Switchgear Market Revenue Share and Revenues, By Types (2019-2029F)

8.2.1 Thailand Low Voltage Switchgear Market Revenues, By MCB (2019-2029F)

8.2.2 Thailand Low Voltage Switchgear Market Revenues, By MCCB (2019-2029F)

8.2.3 Thailand Low Voltage Switchgear Market Revenues, By RCD (2019-2029F)

8.2.4 Thailand Low Voltage Switchgear Market Revenues, By ACB (2019-2029F)

8.2.5 Thailand Low Voltage Switchgear Market Revenues, By Distribution Board (2019-2029F)

8.2.6 Thailand Low Voltage Switchgear Market Revenues, By Contactors and Relays (2019-2029F)

8.3 Thailand Low Voltage Switchgear Market Revenue Share and Revenues, By Applications (2019-2029F)

8.3.1 Thailand Low Voltage Switchgear Market Revenues, By Residential (2019-2029F)

8.3.2 Thailand Low Voltage Switchgear Market Revenues, By Commercial (2019-2029F)

8.3.3 Thailand Low Voltage Switchgear Market Revenues, By Industrial (2019-2029F)

8.3.4 Thailand Low Voltage Switchgear Market Revenues, By Power Utilities (2019-2029F)

8.3.5 Thailand Low Voltage Switchgear Market Revenues, By Transportation & Infrastructure (2019-2029F)

8.4 Key Performance Indicators

8.5 Thailand Low Voltage Switchgear Market Opportunity Assessment

8.5.1 Thailand Low Voltage Switchgear Market Opportunity Assessment, By Types (2029F)

8.5.2 Thailand Low Voltage Switchgear Market Opportunity Assessment, By Applications (2029F)

9. Indonesia Low Voltage Switchgear Market Overview

9.1 Indonesia Low Voltage Switchgear Market Revenues (2019-2029F)

9.2 Indonesia Low Voltage Switchgear Market Revenue Share and Revenues, By Types (2019-2029F)

9.2.1 Indonesia Low Voltage Switchgear Market Revenues, By MCB (2019-2029F)

9.2.2 Indonesia Low Voltage Switchgear Market Revenues, By MCCB (2019-2029F)

9.2.3 Indonesia Low Voltage Switchgear Market Revenues, By RCD (2019-2029F)

9.2.4 Indonesia Low Voltage Switchgear Market Revenues, By ACB (2019-2029F)

9.2.5 Indonesia Low Voltage Switchgear Market Revenues, By Distribution Board (2019-2029F)

9.2.6 Indonesia Low Voltage Switchgear Market Revenues, By Contactors and Relays (2019-2029F)

9.3 Indonesia Low Voltage Switchgear Market Revenue Share and Revenues, By Applications (2019-2029F)

9.3.1 Indonesia Low Voltage Switchgear Market Revenues, By Residential (2019-2029F)

9.3.2 Indonesia Low Voltage Switchgear Market Revenues, By Commercial (2019-2029F)

9.3.3 Indonesia Low Voltage Switchgear Market Revenues, By Industrial (2019-2029F)

9.3.4 Indonesia Low Voltage Switchgear Market Revenues, By Power Utilities (2019-2029F)

9.3.5 Indonesia Low Voltage Switchgear Market Revenues, By Transportation & Infrastructure (2019-2029F)

9.4 Key Performance Indicators

9.5 Indonesia Low Voltage Switchgear Market Opportunity Assessment

9.5.1 Indonesia Low Voltage Switchgear Market Opportunity Assessment, By Types (2029F)

9.5.2 Indonesia Low Voltage Switchgear Market Opportunity Assessment, By Applications (2029F)

10. Singapore Low Voltage Switchgear Market Overview

10.1 Singapore Low Voltage Switchgear Market Revenues (2019-2029F)

10.2 Singapore Low Voltage Switchgear Market Revenue Share and Revenues, By Types (2019-2029F)

10.2.1 Singapore Low Voltage Switchgear Market Revenues, By MCB (2019-2029F)

10.2.2 Singapore Low Voltage Switchgear Market Revenues, By MCCB (2019-2029F)

10.2.3 Singapore Low Voltage Switchgear Market Revenues, By RCD (2019-2029F)

10.2.4 Singapore Low Voltage Switchgear Market Revenues, By ACB (2019-2029F)

10.2.5 Singapore Low Voltage Switchgear Market Revenues, By Distribution Board (2019-2029F)

10.2.6 Singapore Low Voltage Switchgear Market Revenues, By Contactors and Relays (2019-2029F)

10.3 Singapore Low Voltage Switchgear Market Revenue Share and Revenues, By Applications (2019-2029F)

10.3.1 Singapore Low Voltage Switchgear Market Revenues, By Residential (2019-2029F)

10.3.2 Singapore Low Voltage Switchgear Market Revenues, By Commercial (2019-2029F)

10.3.3 Singapore Low Voltage Switchgear Market Revenues, By Industrial (2019-2029F)

10.3.4 Singapore Low Voltage Switchgear Market Revenues, By Power Utilities (2019-2029F)

10.3.5 Singapore Low Voltage Switchgear Market Revenues, By Transportation & Infrastructure (2019-2029F)

10.4 Key Performance Indicators

10.5 Singapore Low Voltage Switchgear Market Opportunity Assessment

10.5.1 Singapore Low Voltage Switchgear Market Opportunity Assessment, By Types (2029F)

10.5.2 Singapore Low Voltage Switchgear Market Opportunity Assessment, By Applications (2029F)

11. Philippines Low Voltage Switchgear Market Overview

11.1 Philippines Low Voltage Switchgear Market Revenues (2019-2029F)

11.2 Philippines Low Voltage Switchgear Market Revenue Share and Revenues, By Types (2019-2029F)

11.2.1 Philippines Low Voltage Switchgear Market Revenues, By MCB (2019-2029F)

11.2.2 Philippines Low Voltage Switchgear Market Revenues, By MCCB (2019-2029F)

11.2.3 Philippines Low Voltage Switchgear Market Revenues, By RCD (2019-2029F)

11.2.4 Philippines Low Voltage Switchgear Market Revenues, By ACB (2019-2029F)

11.2.5 Philippines Low Voltage Switchgear Market Revenues, By Distribution Board (2019-2029F)

11.2.6 Philippines Low Voltage Switchgear Market Revenues, By Contactors and Relays (2019-2029F)

11.3 Philippines Low Voltage Switchgear Market Revenue Share and Revenues, By Applications (2019-2029F)

11.3.1 Philippines Low Voltage Switchgear Market Revenues, By Residential (2019-2029F)

11.3.2 Philippines Low Voltage Switchgear Market Revenues, By Commercial (2019-2029F)

11.3.3 Philippines Low Voltage Switchgear Market Revenues, By Industrial (2019-2029F)

11.3.4 Philippines Low Voltage Switchgear Market Revenues, By Power Utilities (2019-2029F)

11.3.5 Philippines Low Voltage Switchgear Market Revenues, By Transportation & Infrastructure (2019-2029F)

11.4 Key Performance Indicators

11.5 Philippines Low Voltage Switchgear Market Opportunity Assessment

11.5.1 Philippines Low Voltage Switchgear Market Opportunity Assessment, By Types (2029F)

11.5.2 Philippines Low Voltage Switchgear Market Opportunity Assessment, By Applications (2029F)

12. Vietnam Low Voltage Switchgear Market Overview

12.1 Vietnam Low Voltage Switchgear Market Revenues (2019-2029F)

12.2 Vietnam Low Voltage Switchgear Market Revenue Share and Revenues, By Types (2019-2029F)

12.2.1 Vietnam Low Voltage Switchgear Market Revenues, By MCB (2019-2029F)

12.2.2 Vietnam Low Voltage Switchgear Market Revenues, By MCCB (2019-2029F)

12.2.3 Vietnam Low Voltage Switchgear Market Revenues, By RCD (2019-2029F)

12.2.4 Vietnam Low Voltage Switchgear Market Revenues, By ACB (2019-2029F)

12.2.5 Vietnam Low Voltage Switchgear Market Revenues, By Distribution Board (2019-2029F)

12.2.6 Vietnam Low Voltage Switchgear Market Revenues, By Contactors and Relays (2019-2029F)

12.3 Vietnam Low Voltage Switchgear Market Revenue Share and Revenues, By Applications (2019-2029F)

12.3.1 Vietnam Low Voltage Switchgear Market Revenues, By Residential (2019-2029F)

12.3.2 Vietnam Low Voltage Switchgear Market Revenues, By Commercial (2019-2029F)

12.3.3 Vietnam Low Voltage Switchgear Market Revenues, By Industrial (2019-2029F)

12.3.4 Vietnam Low Voltage Switchgear Market Revenues, By Power Utilities (2019-2029F)

12.3.5 Vietnam Low Voltage Switchgear Market Revenues, By Transportation & Infrastructure (2019-2029F)

12.4 Key Performance Indicators

12.5 Vietnam Low Voltage Switchgear Market Opportunity Assessment

12.5.1 Vietnam Low Voltage Switchgear Market Opportunity Assessment, By Types (2029F)

12.5.2 Vietnam Low Voltage Switchgear Market Opportunity Assessment, By Applications (2029F)

13. ASEAN Low Voltage Switchgear Market Competitive Landscape

13.1 Malaysia/Thailand/Indonesia Low Voltage Switchgear Market Revenue Share Ranking, By Top 3/5 Companies (2022)

13.1 Singapore/Philippines/Vietnam Low Voltage Switchgear Market Revenue Share Ranking, By Top 3/5 Companies (2022)

13.2 ASEAN Low Voltage Switchgear Market Key Companies Competitive Benchmarking, By Technical & Operating Parameters

14. Company Profiles

14.1 ABB Ltd

14.2 Schneider Electric

14.3 Eaton Corporation

14.4 Fuji SMBE Pte Ltd.

14.5 Siemens AG

14.6 HD Hyundai Electric

14.7 Mitsubishi Electric Corporation

14.8 LS ELECTRIC Co., Ltd.

14.9 Hager Group

14.10 CHINT Group Co., Ltd.

15. Key Strategic Recommendations

16. Disclaimer

List of Figures

 1. ASEAN Low Voltage Switchgear Market Revenues, 2019-2029F ($ Million)

 2. ASEAN Low Voltage Switchgear Market Revenue Share, By Types, 2022 & 2029F

 3. ASEAN Low Voltage Switchgear Market Revenue Share, By Applications, 2022 & 2029F

 4. ASEAN Low Voltage Switchgear Market Revenue Share, By Countries, 2022 & 2029F

 5. Malaysia Low Voltage Switchgear Market Revenues, 2019-2029F ($ Million)

 6. Malaysia Low Voltage Switchgear Market Revenue Share, By Types, 2022 & 2029F

 7. Malaysia Low Voltage Switchgear Market Revenue Share, By Applications, 2022 & 2029F

 8.  High-End Condominiums (Units), Kuala Lumpur, 2022 – Post 2023  

 9. Thailand Low Voltage Switchgear Market Revenues, 2019-2029F ($ Million)

 10. Thailand Low Voltage Switchgear Market Revenue Share, By Types, 2022 & 2029F

 11. Thailand Low Voltage Switchgear Market Revenue Share, By Applications, 2022 & 2029F

 12. Thailand Upcoming Hotel Projects, 2022-2025F

 13. Thailand Upcoming Hotel Room Supply, By 2024F, (Units)

 14. Indonesia Low Voltage Switchgear Market Revenues, 2019-2029F ($ Million)

 15. Indonesia Low Voltage Switchgear Market Revenue Share, By Types, 2022 & 2029F

 16. Indonesia Low Voltage Switchgear Market Revenue Share, By Applications, 2022 & 2029F

 17. CBD and Outside CBD Annual Office Supply, 2019-2023E (square meter)

 18. Singapore Low Voltage Switchgear Market Revenues, 2019-2029F ($ Million)

 19. Singapore Low Voltage Switchgear Market Revenue Share, By Types, 2022 & 2029F

 20. Singapore Low Voltage Switchgear Market Revenue Share, By Applications, 2022 & 2029F

 21. Number of Flats Completed By The Housing and Development Board (HDB), Singapore, 2019-2022

 22. Philippines Low Voltage Switchgear Market Revenues, 2019-2029F ($ Million)

 23. Philippines Low Voltage Switchgear Market Revenue Share, By Types, 2022 & 2029F

 24. Philippines Low Voltage Switchgear Market Revenue Share, By Applications, 2022 & 2029F

 25. Metro Manila Residential Stock Forecast, end of 2020 & 2023 (Units)

 26. Philippines Hotel Projects Pipeline, 2021-2024F

 27. Metro Manila Malls Retail Spaces (in sqm), 2020-2023E

 28. Philippines Hotel Rooms Openings, 2021-2024F

 29. Vietnam Low Voltage Switchgear Market Revenues, 2019-2029F ($ Million)

 30. Vietnam Low Voltage Switchgear Market Revenue Share, By Types, 2022 & 2029F

 31. Vietnam Low Voltage Switchgear Market Revenue Share, By Applications, 2022 & 2029F

 32. Vietnam Newly Registered Manufacturing Investment, By Province, H1/2022

 33. Vietnam Manufacturing Sector Contribution Towards GDP, 2017-2022

 34. Vietnam Number of Airports, 2022 & 2030F

 35. Vietnam Investments in Transportation Sector, 2021-2030F ($ Million)

 36. Malaysia Low Voltage Switchgear Market Ranking, By Companies, 2022

 37. Thailand Low Voltage Switchgear Market Ranking, By Companies, 2022

 38. Indonesia Low Voltage Switchgear Market Ranking, By Companies, 2022

 39. Singapore Low Voltage Switchgear Market Ranking, By Companies, 2022

 40. Philippines Low Voltage Switchgear Market Ranking, By Companies, 2022

 41. Vietnam Low Voltage Switchgear Market Ranking, By Companies, 2022

 42. Country-wise Percentage of Urban Population, 2015-2025F

List of Tables

 1. Singapore Upcoming Key Hospitality Projects, 2024-2025

 2. Malaysia Low Voltage Switchgear Market Revenues, By Types, 2019-2029F ($ Million)

 3. Malaysia Low Voltage Switchgear Market Revenues, By Applications, 2019-2029F ($ Million)

 4. Completions of High-End Condominiums / Residences, Malaysia, 1H2022

 5. Malaysia Upcoming Projects in Power Sector

 6. Thailand Low Voltage Switchgear Market Revenues, By Types, 2019-2029F ($ Million)

 7. Thailand Low Voltage Switchgear Market Revenues, By Applications, 2019-2029F ($ Million)

 8. Thailand Residential Sector Projects, 2020-2026F

 9. Indonesia Low Voltage Switchgear Market Revenues, By Types, 2019-2029F ($ Million)

 10. Indonesia Low Voltage Switchgear Market Revenues, By Applications, 2019-2029F ($ Million)

 11. Indonesia Newly Completed Projects, Q4 2022

 12. Jakarta CBD Under-construction Office Projects In 2023

 13. Singapore Low Voltage Switchgear Market Revenues, By Types, 2019-2029F ($ Million)

 14. Singapore Low Voltage Switchgear Market Revenues, By Applications, 2019-2029F ($ Million)

 15. Singapore Highly Demanded Residential Projects Launched in 2022

 16. Office Supply Pipeline (2023-2025) (Sq Ft)

 17. Philippines Low Voltage Switchgear Market Revenues, By Types, 2019-2029F ($ Million)

 18. Philippines Low Voltage Switchgear Market Revenues, By Applications, 2019-2029F ($ Million)

 19. Vietnam Low Voltage Switchgear Market Revenues, By Types, 2019-2029F ($ Million)

 20. Vietnam Low Voltage Switchgear Market Revenues, By Applications, 2019-2029F ($ Million)

 21. Vietnam Upcoming Residential Projects

 

 

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