Low Voltage Dc Circuit Breaker Market
Low Voltage Dc Circuit Breaker Market - Global Industry Assessment & Forecast
- By Type Miniature Circuit Breaker, Molded Case Circuit Breaker, Air Circuit Breaker
- By Application Energy Allocation, Shut-off Circuit, Others
- By End-Use Residential, Commercial, Others
- By Region North America, Europe, Asia Pacific, Middle East & Africa, Latin America
|Forecast Years:||2023 - 2030|
|Historical Years:||2017 - 2021|
|Revenue 2022:||USD 3.16 Billion|
|Revenue 2030:||USD 4.72 Billion|
|Revenue CAGR (2023 - 2030):||5.20%|
|Fastest Growing Region (2023 - 2030)||Asia Pacific|
|Largest Region (2022):||Asia Pacific|
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Low Voltage DC Circuit Breaker Market: By End-User, Application, Type, and Region
Global Low Voltage DC Circuit Breaker Market valued at USD 3.16 Billion 2022 and is projected to attain a value of USD 4.72 Billion by 2030 at a CAGR of 5.20% during the forecast period, 2022–2028.
Low Voltage DC Circuit Breaker Market Size, 2022 To 2030 (USD Billion)
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.
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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.
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) are some of the key players in the global Low Voltage DC Circuit Breaker Market.
The Low Voltage DC Circuit Breaker is Segmented as Follows:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Question
What is the global demand for Low Voltage DC Circuit Breaker in terms of revenue?
The global Low Voltage DC Circuit Breaker valued at USD 3.16 Billion in 2022 and is expected to reach USD 4.72 Billion in 2030 growing at a CAGR of 5.20%.
Which are the prominent players in the market?
The prominent players in the market are 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).
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 5.20% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
The driving factors of the Low Voltage DC Circuit Breaker include
- Rising growth in the Demand for Molded Case Circuit Breaker
Which region accounted for the largest share in the market?
Asia Pacific was the leading regional segment of the Low Voltage DC Circuit Breaker in 2022.