Low Voltage DC Circuit Breaker Market size was valued at USD 1.86 billion in 2023 and is set to exceed USD 3.02 billion by 2036, registering over 3.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of low voltage DC circuit breaker is evaluated at USD 1.92 billion. Upgradation and modernization of obsolete energy infrastructure for safe electricity delivery systems and rising expansion in transmission & distribution networks as well as increased emphasis on renewable energy generation such as solar photovoltaic devices are some of the factors boosting the market growth.
Growth Drivers
Challenges
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
3.8% |
Base Year Market Size (2023) |
USD 1.86 billion |
Forecast Year Market Size (2036) |
USD 3.02 billion |
Regional Scope |
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The low voltage DC circuit breaker market is segmented by type into air circuit breaker, molded case circuit breaker, miniature circuit breaker, and motor protection circuit breaker. Among these segments, the segment for molded case circuit breaker is anticipated to hold the leading share in the market on account of the simple and robust construction combined with the reliability and cost-effectiveness over other modules. Further, the compactness in its size saves a wide space in the panel design.
Our in-depth analysis of the global market includes the following segments
By Type |
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By Application |
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By End User |
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On the basis of regional analysis, the low voltage dc circuit breaker market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Asia Pacific industry is likely to dominate majority revenue share by 2036, owing to rapid economic development and upgradation in existing electricity distribution technologies as well as the growing requirement for electricity from several end-user industries. The market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result of increasing investments in solar power generation and expansion of transmission line networks from source to distribution. Additionally, the large-scale manufacturing of low voltage dc circuit breaker, especially in countries such as China, Japan, South Korea and India further raise the demand for low voltage dc circuit breaker market.
On the other hand, the market in Europe is anticipated to grow at a significant pace backed by the growing concern for electrical accidents in the nations, such as Germany, Austria and Switzerland, along with the advancements in the electrical components technology.
Author Credits: Dhruv Bhatia
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