Low Voltage DC Circuit Breaker MarketTheGlobal Low Voltage DC Circuit Breaker Marketis projected to grow and drive from USDUSD 3.29 Billionbillion in 2021 to USDUSD 4.9 Billionbillion by 2028 growing at a CAGR of5.4%%. DC low voltage circuits play an important role in the transmission of electricity and in distribution. The main role of Low Voltage DC Circuit Breakers is to automatically shut off the power when the circuit is threatened with overcrowding.
The growth of the Low Voltage DC Circuit Breaker Market can be attributed to factors such as the development and improvement of aging infrastructure for secure power distribution systems, the expansion of transmission and distribution networks, the growth rate of industrial and urban growth. Factors such as an increase in energy consumption, an increase in the volume of renewable energy sources in the mix of energy, and a growing number of data centers and electric vehicles are unbound to drive the market. On the other hand, factors such as overhead adjustment and performance failure due to fluctuations in low-voltage dc breakers have a negative impact on market growth. Also, uninterrupted stability and continuous power supply are estimated to hamper future market growth of low-voltage dc circuit breakers. The lack of existing government policies specific to low voltage dc circuit breakers may also hinder the growth of the market. Part of the battery systems is expected to hold the largest market share during the forecast period. It is also the fastest-growing segment in the same era due to the huge investment in renewable and energy-saving 10;This is due to the ever-increasing demand for electricity from the latter which may require an increase in production from renewable energy sources in order to keep the greenhouse gas emissions below the regulatory limits.
The integrated circuit breaker component is expected to hold the largest market share during the forecast as most DC voltage breaker applications use this type of circuit breaker due to its easy installation, reliability, and low cost. Smaller power stations and industries such as transport, chemical, mining, and maritime are needed with tools that operate in the low to the medium power sector. The lowest DC circuit breakers are therefore lying in this part of the electrical equation.
The solar sector is expected to be the fastest-growing market during the forecast period, due to factors such as growing investment in solar energy plants being used. Globally, the focus is on investing in clean energy systems and renewable energy development. As a result, the broader development of new renewable projects, as well as the increase in electricity consumption is likely to create an excellent market for low voltage dc circuit breakers in the future.
The Asia Pacific region is expected to be the largest market for DC-voltage breakers, by 10;Countries such as China, Japan, and South Korea are among the major countries considered to be the leading producers of low voltage DC 160; Over the past few years, the region has seen a high rate of economic development due to a large number of production units and emerging industries. Subsequent grid development programs, microgrid, power storage, and EV charging infrastructure are expected to further market growth in the region.
Key stakeholders operating in the low voltage DC breaker circuit market include-Eaton (US), ABB (Switzerland), Larsen and Toubro (India), SIEMENS AG (Germany), Hyundai Electric (South Korea), Toshiba Corporation (Japan), Mitsubishi Electric Corporation (Japan), Hitachi (Japan), C&S Electric (India), Schneider Electric (France), Powell Industries (US), Sensata Technologies (US), Tavrida Electric (Russia), Fuji Electric (Japan).
Nov 23, 2021
