Low Voltage DC Circuit Breaker Market Trends

  • Report ID: 2644
  • Published Date: Oct 16, 2024
  • Report Format: PDF, PPT

Low Voltage DC Circuit Breaker Market Trends

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 market. 
  • 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 market is predicted to grow significantly over the forecast period.

Challenges

  • 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 market in the future.

Low Voltage DC Circuit Breaker Market: Key Insights

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

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Browse Key Market Insights with Data Illustration:


Author Credits:  Dhruv Bhatia


  • Report ID: 2644
  • Published Date: Oct 16, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of low voltage DC circuit breaker is evaluated at USD 1.92 billion.

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.

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 major players in the market are Siemens, Schneider Electric, ABB, Fuji Electric FA Components & Systems Co., Ltd., Eaton, Toshiba International Corporation, Mitsubishi Electric Corporation, Hitachi Industrial Equipment Systems Co., Ltd., C&S Electric Ltd., Larsen & Toubro Ltd., and others.
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