Low Voltage DC Circuit Breaker Market

Low Voltage DC Circuit Breaker Market: By End-User, Application, Type, and Region

Market Synopsis:

Global Low Voltage DC Circuit Breaker Market valued at USD 3.29 Billion 2021 and is projected to attain a value of USD 4.91 Billion by 2028 at a CAGR of 5.4% during the forecast period, 2022–2028.

In modern power distribution systems, the number of low voltage DC circuits have increased manifold. The Low Voltage DC Circuit Breaker is an ever-growing product line in across the globe. Low voltage breakers are used for loads between 100V to 15000V at normal operating frequency 50/60 Hz. The major demand for the Low Voltage DC Circuit Breaker comes from the sectors like railways, electrical vehicle, thyristor switched capacitor banks, and data centres.

Electric Vehicle and Railways to Remain Key Consumers in the Low Voltage DC Circuit Breaker Market

The number of electric locomotives increased by over 50% during last five years and it is estimated that about 20,000 locomotives would be running on Indian Railways by 2022. All these electric locomotives will have requirement of Low Voltage DC Circuit Breaker. The existing rolling stock also needs replacement due high operation cost and life cycle of the product.

The light electric vehicle of mass transportation is an upcoming sector in India. Different modes of electric vehicles are being developed to ease traffic congestion and pollution levels in Indian cities. These vehicles use low voltage DC circuits for powering motor which will be placed on 2-wheeler, 3-wheeler, 4-wheeler cars, buses etc., Maintenance of these vehicles require low voltage circuit breakers to be replaced periodically depending upon the operating conditions.

Segmentation:

Molded Case Circuit Breaker is the Major Contributor to the Global Low Voltage DC Circuit Breaker Market

There is an increasing demand for molded case circuit breakers with the increase in power distribution and generation equipment. Additionally, there is a continual demand for molded case circuit breakers in the industrial and commercial sector. Industrial equipment such as elevators, conveyors, cranes etc., use these circuit breakers for power supply. Molded case circuit breakers are mainly of two types: Current Limiting (CL) and Non-Current Limiting (NCL). The current limiting type provides overload protection by interrupting over current without affecting the voltage; whereas the non-current limiting type reduces or limits the voltage to protect electrical and electronic equipment from damage during short circuit conditions.

Rising growth in the Demand for Molded Case Circuit Breaker is Primarily Attributed to the Following Factors

Firstly, growing power distribution networks in developing countries such as China and India. Secondly, for new smart grid systems with distributed power generation. Thirdly, the need to reduce energy costs by optimizing Energy usage. Lastly, increasing use of renewable sources of energy like wind and solar with distributed power generation system is expected to translate into an increased demand for Low Voltage DC Circuit Breaker during the forecast period.

Asia Pacific is the Largest Market for Low Voltage DC Circuit Breaker

Asia Pacific is the largest market for Low Voltage DC Circuit Breaker. The Rising demand from industries such as oil & gas, water treatment plant and water distribution, renewable energy systems (RES) as well as mining equipment make Asia Pacific a lucrative market for these products. The increase in demand for low voltage circuit breakers across oil and gas applications - including uninterruptible power supplies (UPS), solar inverters and wind turbines – has been significant over the past five years and will remain strong through 2022. Growth of microgrids that connect to the main electricity grid but can operate autonomously during outages or other disruptions is also driving increased sales of uninterruptible power supply equipment, which includes Low Voltage DC Circuit Breaker.