Vantage Market Research
Jan 04, 2022
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Market Snapshot |
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Market Value in 2020 |
2.6 billion |
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Market Value in 2028 |
6 billion |
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CAGR |
4% |
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Dominating Region |
Asia Pacific |
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Fastest Growing Market |
Asia Pacific |
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Forecast Period |
2021-2028 |
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Base year |
2020 |
Increasing Demand for Renewable Sources and Along with Electrification Projects to Flourish Market
Our all-inclusive resort on the Global DC Circuit Breaker Market provides insights on application, production process, and coverers the study of the latest development and investment in the market. Furthermore, our report includes market drivers, restraints, and opportunities along with COVID-19 impact analysis, historical & descriptive analysis, and forecasts & predictive analysis.
Additionally, the report also covers the value chain analysis, regulatory analysis, market attractiveness analysis, and Porter’s five forces analysis, for the market.
Increasing for Renewable Sources as well as Electrification Projects
In the past few years, the demand for secure and reliable power sources along with the adoption of renewable energy sources is increasing at its wildest level. Thus, increasing the demand for DC circuit breakers; further propelling the DC circuit breaker growth. Moreover, the government is motivating people regarding the use of green energy by taking several initiatives. Furthermore, the increasing investment from the government and several key players in order to achieve a sustainable future is anticipated to augment the growth of the market. Additionally, DC Circuit Breaker has application in various industries such as renewable, railways, transmission, distribution utilities, and power generation.
Moreover, the electrification projects in rural areas have surged the demand for DC circuit breakers. Numerous technological progressions in power devices are the factor to transits a new electrical power source in the DC grid application. As to maintain the safe grid operation DC circuit breaker is essential. Thus, increasing demand for the DC circuit breaker further propelling the market growth.
Some of the key players in the DC circuit breaker market include ABB Ltd, CG Power, and Industrial Solutions Ltd, Powell Industries, Inc., Mitsubishi Electric Corporation, Toshiba Corp, Entec Electric & Electronic Co Ltd, Rockwell Automation, Siemens AG, Fuji Electric Co Ltd, Brush Electrical Machines Ltd, Schneider Electric SE, Larsen & Toubro Limited, Eaton Corporation PLC, among others.
Asia Pacific is anticipated to dominate the DC Circuit Breaker market and grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period which drives from 2021-2028. China and India are the most populated countries in the world. Thus, there is a rapid increase in the demand for electricity and a surge in the power generation capacity in the countries. This is surging the demand for DC circuit breakers further boosting the growth of the market in the region. China dominates the region and is projected to hold 35% of the share of the DC circuit breaker market.