USD 3 billion
Report ID: SQSG20D2015 | Region: Global | Published Date: November, 2022 | Pages: 165 | Tables: 65 | Figures: 71
Low Voltage DC Circuit Breaker Market size was valued at USD 3 billion in 2021 and is poised to grow from USD 3.16 billion in 2022 to USD 4.7 billion by 2030, growing at a CAGR of 5.2% in the forecast period (2023-2030).
The reduction in solar installations put a stop to the market's expansion in line with the COVID-19 outbreak. The DC circuit breaker is a crucial part of the solar PV system, acting as a wall across direct current and alternating current. Over the course of the projected time frame, the market is estimated to propel by factors like increased electricity usage, an infusion of renewable energy sources into the energy mix, and growth in the number of data centers and electric vehicles. The market for low voltage DC circuit breakers is expected to develop over the coming periods, although it will likely be constrained by the greater stability of the electrical supply, which is decreasing the demand for circuit breaks.
The generation from renewable sources and expenditures on clean energy projects are now more important than ever. As a consequence, the market for low voltage DC circuit breakers is projected to experience exceptional growth in the future due to the substantial development of new renewable projects and rising power usage.
US Low Voltage DC Circuit Breaker Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 3 billion
air circuit breaker
air circuit breaker
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The global low voltage dc circuit breaker market segmentation is based on type, end-use, and region. Based on type the market is segmented into miniature circuit breaker, molded case circuit breaker and air circuit breaker. Based on end-use the market is segmented into battery systems, data centers, solar industry, transportation and others. Based on region the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Low Voltage DC Circuit Breaker Market Analysis by Type
In 2021, the molded case circuit breaker accounted for the largest market share in the global low voltage dc circuit breaker market. The Molded Case Circuit Breaker (MCCCB) is more dependable and affordable than its rivals thanks to its straightforward design and durability. The fact that MCCBs are more frequently used than Air Circuit Breakers (ACBs) and other low voltage DC circuit breakers is one of the main causes behind this. With the expansion of power generation and transmission systems, there is a growing preference for molded case circuit breakers. Furthermore, the business and industrial sectors consistently have a need for molded case circuit breakers. These circuit breakers are used to deliver power to industrial machinery including elevators, conveyors, cranes, etc.
Low Voltage DC Circuit Breaker Market Analysis by End-Use
During the forecast period, the data center end-user industry is projected to be the most prominent and rapidly developing section. It serves as the main building block for cloud storage apps and is essential to all digitization processes, such as smart grid and smart grid transportation.
Data centers will proliferate like weeds all around the globe to serve the bulk of current activities, which will be digitized for simplicity and dependability, mandating the use of DC and raising the market for low voltage DC circuit breakers.
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In 2021, the global low voltage DC circuit breakers market is thought to be dominated by and developing the fastest in the Asia Pacific region. Increased reliance on alternative energy sources and increased investment in the construction of electric grids are credited for the region's rapid growth. Demand for DC circuit breakers is projected to increase as grid energy investment increases and electrification plans for rural regions of emerging economies are implemented. Furthermore, in countries like China and India, interest in renewable energy is growing.
As the repair and replacement of the current infrastructure is the primary necessity in the local market, North America is projected to be another big region with a sizable share.
On the other hand, the European market for low-voltage dc circuit breakers is predicted to expand rapidly, supported by both the developments in electronic systems technologies and the rising awareness of electrical mishaps in countries like Germany, Austria, and Switzerland.
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Low Voltage DC Circuit Breaker Market Driver
Low Voltage DC Circuit Breaker Market Restraint
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Major corporations dominate the global low voltage DC circuit breakers market. One of the primary methods used by the key manufacturers to promote their worldwide presence and products was the merger with local players along with contractual arrangements with the end-user. Major companies are investing more in research and development and new product releases. For instance, in January 2022, ABB India introduced Formula DIN-Rail, a comprehensive line of isolators, residual current circuit breakers, and tiny circuit breakers (MCBs) for India's D250 million electrical retail sector.
Top Players in the Global Low Voltage DC Circuit Breaker Market
Low Voltage DC Circuit Breaker Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, in the global low voltage dc circuit breakers market in 2021, molded case circuit breakers held the biggest market share. The data center end-user industry is expected to be the most significant and quickly growing sector throughout the forecast period. The Asia Pacific region is expected to dominate and see the quickest growth in the low voltage DC circuit breakers market in 2021.
|Market size value in 2021||USD 3 billion|
|Market size value in 2030||USD 3.16 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Low Voltage DC Circuit Breaker Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Low Voltage DC Circuit Breaker Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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