Low Voltage DC Circuit Breaker Market Trends

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. The low-voltage dc circuit breaker market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The 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.

Growth Drivers

Rapid Urbanization and Increasing Investments in Electricity Generation to Boost the Market Growth

With the advent of advancement in energy infrastructure and increasing modernization, there is rising demand from various industries for delivering safe and secure transmission and distribution of electrical systems. This has made way for low-voltage dc circuit breaker to be widely used in digital equipments such as computers, stabilizers, and servers owing to its ability in improving the loads from such equipments. According to International Energy Agency (IEA), in 2017, total power sector investment globally was USD 750 billion. Furthermore, the low-voltage dc circuit breaker caters to continuous commercial demand for decentralized power distribution. This is anticipated to significantly expand the low-voltage dc circuit breaker market. CLICK TO DOWNLOAD SAMPLE REPORT

Rising Demand for Renewable Energy to Drive the Market Growth

The renewable energy sector is the fastest-growing industrial segment on account of factors such as increasing investment in utility size renewable power plants and green energy projects. As per the International Renewable Energy Agency (IRENA), by 2023, the share of renewables in meeting global energy demand is anticipated to reach 12.4%. Since the generation of renewable power and energy is not stable when compared to conventional power generation, the requirement of devices like low-voltage dc circuit breaker increases. These devices are used in the electrical installation to protect any energy system against damage. Additionally, photovoltaic solar panels and battery powered electric circuits work with direct current and use low-voltage dc circuit breaker for their electric protection. On the back of these factors, the global low voltage DC circuit breakers market is predicted to grow significantly over the forecast period.

Restraints

Operational Failures and Load Variations to Hamper the Market Growth

Factors such as high maintenance and operational failures on account of inconsistencies in the low-voltage dc circuit breakers negatively affect the market growth. Also, the uninterrupted and continuous stability of electricity supply is estimated to hinder the growth of low-voltage dc circuit breaker market in the future.