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Global DC Circuit Breaker Market To Be Driven By Rising Investments In Renewable Energy And Growing Need For Secure Power Supply During The Forecast Period Of 2022-2027
The new report by Expert Market Research titled, ‘Global DC Circuit Breaker Market Analysis, Size, Share, Trends, Scope, Report and Forecast 2022-2027’, gives an in-depth analysis of the global DC circuit breaker market, assessing the market based on its segments like voltage, type, insulation, and end-use and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
- Forecast Historical Market Size (2021): USD 2.65 billion
- Forecast CAGR (2022-2027): 6.02%
- Forecast Market Size (2027): USD 3.76 billion
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The DC circuit breaker market is growing due to the expansion of the electrical network infrastructure, rising investments in transmission and distribution infrastructure, rising demand for a reliable and secure power supply, and rising investments in renewable energy generation, high precision industrial machines and welding, and LED lighting.
The tremendous market potential in unexplored emerging markets is expected to aid in the growth of the DC circuit breakers during the forecast period.
The construction of new transmission and distribution lines is likely to be pushed by future power production sources, boosting the demand for DC circuit breakers.
The DC circuit breaker industry is expected to grow due to rapid economic development, rising need for solar energy generation, and increasing demand for a dependable and secure power supply. These factors are expected to drive the market for global DC circuit breaker during the forecast period.
DC Circuit Breaker Industry Definition and Major Segments
WLAN easily connects to resources such as smartphones, PCs, distant offices, and data centres over a network. WLAN connectivity allows customers to connect to private or public gateways, depending on the needs of the consumer.
An enterprise WLAN network is made up of a number of WiFi Access Points (APs) and is distinguished by high-quality security and performance, centralised management, and advanced user density capacity.
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By voltage, the market is divided into:
- Medium Voltage
- High Voltage
By type, the market is divided into:
- Solid-State
- Hybrid
By insulation, the market is divided into:
- Vacuum
- Gas
By end-use, the market is divided into:
- Transmission and Distribution Utilities
- Power Generation
- Renewables
- Railways
- Others
By region, the industry is categorized into:
- North America
- Europe
- The Asia Pacific
- Latin America
- The Middle East and Africa
DC Circuit Breaker Market Trends
The renewable energy sector is predicted to expand significantly over the projection period, owing to factors such as the growing contribution of renewable electricity in overall electricity generation, the growing number of utility-scale renewable projects, and the growing demand for clean energy.
The expanding demand for clean energy is one of the key drivers of the renewable energy sector, and it is one of the causes driving the expansion of DC circuit breakers in the sector. The huge reduction in the CAPEX required to build up renewable energy projects such as wind and solar plants has also contributed to the growth of the renewable energy sector.
For example, the cost of solar photovoltaic modules has declined considerably over the previous four decades, and this trend is likely to continue in the forecast period due to developments in solar panel production methods and mass production of solar panels.
In the historical period, Asia Pacific was one of the largest regional markets for DC circuit breakers, and it is predicted to increase at a healthy rate throughout the forecast period, with China and India accounting for the majority of consumption.
To accommodate rising energy requirement, China and India are substantially investing in electrification projects, grid energy, and the stabilization and upgrading of existing power grids. In addition, these countries are beginning to place a renewed emphasis on renewable energy sources. Because of rising population, urbanisation, and industrialisation, Asia Pacific is one of the world’s fastest expanding regional marketplaces.
As a result, there’s a lot of demand for a reliable power supply, which means there’s a lot of demand for DC circuit breakers. These reasons have aided the growth of the DC circuit breaker sector in the Asia Pacific area as a whole.
Key Market Players
The major players in the market are ABB, Mitsubishi Electric Corporation, Larsen & Toubro, Rockwell Automation, Entec Electric and Electronic, among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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