Low Voltage DC Circuit Breaker Market

The report "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) and Region - Global Forecast to 2024", is projected to reach USD 1.5 billion by 2024 from an estimated USD 1.2 billion in 2019, at a CAGR of 5.68%. This growth can be attributed to factors such as continued growth of construction and development of infrastructure to support electric vehicles and other electric modes of transport, increasing access to electricity in developing countries by means of solar integration and increasing rate of industrialization & urbanization. However, risks associated with device malfunction and lack of existing government policies specific to low voltage DC circuit breakers are hindering the growth of the low voltage DC circuit breaker market.

Browse 60 market data Tables and 38 Figures spread through 166 Pages and in-depth TOC on "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) and Region - Global Forecast to 2024"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/low-voltage-dc-circuit-breaker-market-19859906.html

The others segment is expected to hold the largest share of the low voltage DC circuit breaker market, by application, during the forecast period.

The others segment, by application, is estimated to be the largest and the fastest growing segment during the forecast period, as the reliance on electronic equipment in the residential sector is increasing at a very fast pace that requires low voltage Direct Current (DC) for their operation. Also, with most of the existing electrical infrastructure expected to undergo a massive revamp in the near future the circuit breaker installations are expected to go up ultimately boosting the low voltage DC circuit breaker market during the forecast period.

The battery systems segment is expected to be the fastest growing segment of the low voltage DC circuit breaker market, by end user, during the forecast period.

The battery systems segment is expected to hold the largest market share during the forecast period. It is also the fastest growing segment during the same period because of large investments in the renewable and energy storage systems. This is happening because of the ever-increasing demand for electricity from the consumer end perhaps requiring increased generation from renewable energy sources so as to keep the emissions of greenhouse gases under guided limits. Increasing focus on renewable and storage systems is the prime factor that is expected to drive the market during the forecast period.

The molded case circuit breaker segment is expected to be the fastest growing segment of the low voltage DC circuit breaker market, by type, during the forecast period.

Molded case circuit breaker (MCCB) has more market share than Air Circuit Breaker (ACB), Miniature Circuit Breaker (MCB) and Residual Current Circuit Breaker (RCCB). Molded Case Circuit Breaker (MCCB) use a simple and robust construction making them more reliable and cost effective. The market share for MCCB is expected to rise with a healthy pace during the forecast period and is projected to hold the largest share in the year 2024.

Asia Pacific: The leading market for low voltage DC circuit breakers.

The Asia Pacific region is expected to be the largest market for low voltage DC circuit breakers, by 2024. Countries such as China, India, japan, and South Korea are among the major countries which are hubs for utilizing low voltage DC circuit breakers because of growing energy demand along with increasing dependence on renewable energy generation like solar industry. Over the past few years, this region has witnessed rapid economic development and growth as well as revamping of the transmission and distribution sectors in this region resulting in an increase in the low voltage DC circuit breaker market.

The renewable power generation is not as stable as the conventional power generation. Hence, equipment like low voltage DC circuit breakers are installed with them, connecting the power generating stations to switchyards and the electrical grid. Growth in the renewable power generation is expected to be a long-term driving force for the low voltage DC circuit breaker market. Subsequent stable grid development programs, microgrid, energy storage, and EV charging infrastructure is further expected to propel the growth of the market in the region.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the low voltage DC circuit breaker market. Some of the key players are ABB (Switzerland), Eaton (US), SIEMENS AG (Germany), Schneider Electric (France), Larsen and Toubro, and Hitachi (Japan). The leading players are adopting various strategies to increase their shares in the low voltage DC circuit breaker market.

Don’t miss out on business opportunities in Low Voltage DC Circuit Breaker Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]