Low-Voltage DC Circuit Breaker Market to Grow with a CAGR of 4.19% through 2028
Increasing
adoption of renewable energy sources and growing demand for data centers are
likely to drive the market in the forecast period.
According to
TechSci Research report, “Low-Voltage DC Circuit Breaker Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Low-Voltage DC Circuit Breaker Market stood at USD 2.08 billion in
2022 and is anticipated to grow with a CAGR of 4.19% in the forecast period.
The burgeoning
data center industry is a prominent driver of the global Low-Voltage DC Circuit
Breaker market. Data centers, the backbone of modern digital operations, are
experiencing exponential growth due to the increasing demand for cloud
computing, data storage, and online services. To ensure uninterrupted
operations, data centers are adopting direct current (DC) power distribution
for its inherent energy efficiency benefits. Low-Voltage DC Circuit Breakers
are instrumental in safeguarding these critical facilities. They protect
against electrical faults, ensuring that servers, networking equipment, and
mission-critical data remain safe from overcurrents and short circuits. As data
centers continue to expand to meet the insatiable appetite for digital
services, the demand for DC circuit breakers is surging. This driver is further
fueled by the growing emphasis on energy efficiency and sustainability in data
center operations. DC power distribution minimizes energy losses, aligning with
environmental goals and reducing operational costs. As the digital age
progresses, the reliance on data centers will only intensify, firmly
establishing data center expansion as a primary driver of the Low-Voltage DC
Circuit Breaker market.
The global push
toward the electrification of transportation is a compelling driver for the
Low-Voltage DC Circuit Breaker market. Electric vehicles (EVs) are rapidly
gaining traction as a cleaner and more sustainable mode of transportation. Key
stakeholders, including automotive manufacturers and governments, are heavily
investing in EV infrastructure, including charging stations. DC circuit
breakers are pivotal in EV charging infrastructure, ensuring safety and
reliability during the charging process. They protect against electrical
faults, offering essential safeguards for both EVs and charging stations. As
governments worldwide commit to reducing carbon emissions and promoting EV
adoption, the demand for DC circuit breakers in this application is soaring.
This driver
encompasses various aspects of electrified transportation, including personal
EVs, public transit systems, and commercial electric fleets. With automakers
introducing an array of electric vehicle models and continually improving
charging technologies, the Low-Voltage DC Circuit Breaker market is poised for
robust growth, driven by the electrification revolution.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on
"Global Low-Voltage DC Circuit Breaker Market.”
The Global Low-Voltage
DC Circuit Breaker Market is segmented into type, application, end user and
region.
Based on type, The
Molded segment had the largest market share in 2022 & expected to maintain
it in the forecast period. Molded Case Circuit Breakers (MCCBs) are highly
versatile and find application in a wide range of low-voltage DC systems. They
can be used in both residential and commercial settings, making them suitable
for various industries and applications. MCCBs are known for their compact and
space-saving design. This feature is particularly valuable in applications
where available space is limited, such as in control panels and distribution
boards. MCCBs are relatively easy to install and integrate into electrical
systems. Electricians and technicians are often familiar with MCCB installation
procedures, reducing installation time and costs. Many MCCBs come with adjustable
trip settings, allowing users to customize the protection parameters according
to specific requirements. This adaptability is essential for addressing varying
levels of current and fault conditions. MCCBs are often cost-effective compared
to some specialized DC circuit protection devices. This affordability makes
them an attractive choice for budget-conscious customers and industries. MCCBs
are designed to provide reliable protection against overcurrents and short
circuits. They are capable of interrupting fault currents, preventing damage to
downstream equipment and minimizing downtime. MCCBs typically adhere to
established industry standards and regulations, ensuring their reliability and
safety. This compliance is crucial in industries where safety and compliance
are paramount. MCCBs are widely available from numerous manufacturers, making
them easily accessible to customers around the world. The availability of spare
parts and service support further enhances their attractiveness.
Based on application,
The solar segment had the largest market share in 2022 and is projected to
experience rapid growth during the forecast period. Solar energy has
experienced explosive growth as a clean and renewable energy source. The
installation of solar panels and photovoltaic (PV) systems has surged globally,
driven by environmental concerns, government incentives, and decreasing solar
equipment costs. Solar panels generate
direct current (DC) electricity. To efficiently distribute and manage this DC
power within solar energy systems, DC circuit breakers are crucial. They
protect the wiring, inverters, and other components from overcurrents and short
circuits. Utility-scale solar farms and large-scale commercial installations
are significant consumers of Low-Voltage DC Circuit Breakers. These
installations require robust circuit protection to ensure the safety and
reliability of the solar arrays, inverters, and related equipment. Residential
solar installations also contribute to the demand for DC circuit breakers. As
more homeowners invest in rooftop solar panels, the need for safe and efficient
DC circuit protection within residential solar systems grows. Solar power
generation is increasingly integrated into the electrical grid. DC circuit
breakers are essential in grid-tied solar installations to manage power flow,
disconnect from the grid during maintenance or outages, and protect against
electrical faults. Many governments worldwide offer incentives and regulations
that promote the adoption of solar energy. These policies often require the use
of certified and safety-compliant DC circuit breakers in solar installations,
ensuring their dominance in the market. The solar industry has seen continuous
technological advancements. These include innovations in solar panel efficiency
and the development of more efficient DC circuit breakers with features like
remote monitoring and advanced protection mechanisms. The push for cleaner and
more sustainable energy sources has led to a significant preference for solar
energy. This focus on environmental responsibility has bolstered the growth of
solar installations and, consequently, the demand for DC circuit protection. As
the world transitions toward cleaner and more sustainable energy sources, solar
energy plays a central role. The increasing integration of solar power into the
global energy mix has a direct impact on the demand for Low-Voltage DC Circuit
Breakers.
Major companies
operating in the Global Low-Voltage DC Circuit Breaker Market are:
- ABB Ltd
- Siemens AG
- Schneider Electric SE
- Eaton Corporation plc
- General Electric Company
- Fuji Electric Co., Ltd.,
- Mitsubishi Electric Corporation
- Chint Group
- LS Electric Co. Ltd
- Hyundai Electric
Download Free Sample Report
Customers can
also request for 10% free customization on this report.
“The Global Low-Voltage
DC Circuit Breaker market is expected to rise in the upcoming years and
register a significant CAGR during the forecast period. The rapid expansion of
renewable energy sources, such as solar and wind power, is a compelling driver
for the global Low-Voltage DC Circuit Breaker market. As the world embraces
cleaner energy solutions, these sources generate direct current (DC)
electricity, necessitating robust circuit protection. Low-Voltage DC Circuit
Breakers ensure the safety and reliability of renewable energy systems by
safeguarding against overcurrents and faults. Government incentives and
sustainability initiatives further propel market growth, making DC circuit
breakers indispensable components in the renewable energy ecosystem. This
driver underscores the critical role DC circuit breakers play in supporting the
global transition to sustainable power generation. Therefore, the market of Low-Voltage
DC Circuit Breaker is expected to boost in the upcoming years.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Low-Voltage
DC Circuit Breaker Market - Global Industry Size, Share, Trends, Opportunity,
and Forecast, 2018-2028, Segmented By Type (Molded, Case Circuit Breakers,
Air Circuit Breakers, Others), By Application (Battery Systems, Data Center,
Solar, Transportation, Others), By End User (Industrial, Commercial, Others), By
Region, By Competition”, has evaluated the future growth potential of Global
Low-Voltage DC Circuit Breaker Market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision-makers make sound
investment decisions., The report also identifies and analyzes the emerging
trends along with essential drivers, challenges, and opportunities in the Global
Low-Voltage DC Circuit Breaker Market.
Contact
Mr. Ken
Mathews
708 Third
Avenue,
Manhattan,
NY,
New York
10017
Tel:
+1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com