“Low voltage dc circuit breaker is expected to achieve USD 2.3 billion in 2029 from an estimated $1.4bn in 2019”, says Visiongain report
05 September 2019
Visiongain’s new report the Low Voltage DC Circuit Breaker Market Report 2019-2029: Forecasts by Low Voltage DC Circuit Breaker Market by End-user (Battery Systems, Transportation and Others), Application (Industrial, Commercial and Others), Type (Air Circuit Breaker, Molded Case Circuit Breaker and Others) Plus Leading Company Analysis and Regional and Leading National Market Analysis.
Low voltage dc circuit breaker is expected to achieve USD 2.3 billion in 2029 from an estimated USD 1.4 billion in 2019 to CAGR 6.8%. This growth can be ascribed to variables such as ongoing building growth and infrastructure development to promote electric vehicles and other electrical modes of transport, increased access to electricity in developing nations through solar inclusion, and increased industrialization & urbanization rates. However, the dangers connected with device malfunction and absence of current public policies particular to low voltage DC circuit breakers hinder the development of the DC circuit breaker low voltage industry.
During the forecast period, the other segment is expected to hold the largest share of the market for low voltage DC circuit breakers by application.
By implementation, the other segment is projected to be the biggest and fastest growing segment during the forecast period, as dependence on electronic equipment in the housing industry is rising at a very quick rate requiring low voltage Direct Current (DC) to operate. In addition, with most of the current electrical infrastructure anticipated to undergo huge retrofitting in the near future, circuit breaker facilities are anticipated to eventually boost the DC circuit breaker low voltage market during the forecast period.
The Battery System Segment Is Anticipated To Hold The Biggest Market Share
During the forecast period, the battery system segment is anticipated to hold the biggest market share. Due to big investments in renewable and energy storage technologies, it is also the fastest increasing segment during the same era. This is occurring due to the ever-increasing customer demand for electricity that may require enhanced renewable energy generation to maintain greenhouse gas emissions below guided boundaries. The primary factor expected to drive the market during the forecast period is increasing focus on renewable and storage technologies.
Molded case circuit breaker (MCCB) has more market shares than Air Circuit Breaker (ACB), Miniature Circuit Breaker (MCB) and RCCB. Molded Case Circuit Breaker (MCCB) makes them more reliable and cost-effective using a straightforward and robust design. The market share for MCCB is anticipated to increase in the forecast period with a good speed and is projected to retain the biggest share in 2029.
Growth in renewable power generation for the low voltage DC circuit breaker industry is anticipated to be a long-term driving force
The generation of renewable energy is not as stable as conventional generation of power. Equipment such as low voltage DC circuit breakers are therefore mounted with them, linking the energy generating stations to switchyards and the electrical grid. Growth in renewable power generation for the low voltage DC circuit breaker industry is anticipated to be a long-term driving force. It is further anticipated that subsequent stable grid development programs, microgrid, energy storage and electricity charging infrastructure will boost market growth in the region
Leading Regional & National Analysis
The Asia Pacific region is expected to be the largest market for low voltage DC circuit breakers
For low voltage DC circuit breakers, the Asia Pacific area is anticipated to be the biggest market by 2029. Countries such as China, India, Japan, and South Korea are among the main hubs for using low-voltage DC circuit breakers due to increased demand for energy, as well as increasing reliance on renewable energy generation such as solar sector. This region has experienced fast economic development and growth over the previous few years, as well as the revamping of the transmission and distribution industries in this region, leading to an rise in the market for low voltage DC circuit breakers.
Hyundai Electric & Electrical Systems Company
The comprehensive report offers market estimation and forecast for the period ranging 2019 – 2029 for leading national markets and rest of the world. Moreover, the report contains dedicated leading companies covering 10 leading producers in the field of advanced energy storage systems.
The Low Voltage DC Circuit Breaker Market Report 2019-2029 report will be of value to anyone who wants to better understand the energy storage market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the energy industry.
Notes for Editors
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