Market Leaders - Low Voltage DC Circuit Breaker Market
The global low voltage DC circuit breaker market is expected to grow from an estimated USD 1.2 billion in 2019 to USD 1.5 billion by 2024, at a CAGR of 5.68 %. The growth of this market is driven by replacement & refurbishment of aging infrastructure for safe and secure electrical distribution systems, battery systems for the sake of power storage, and avoidance of peaks and surges occurring due to the inconsistency in generation from renewables, expansion in transmission & distribution networks, and need of low voltage DC circuit breakers in the transportation segment.
The global low voltage DC circuit breaker market is dominated by few major players that have a wide regional presence. 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.
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The major strategies adopted by the players include new product launches, investments & expansions, mergers & acquisitions, contracts & agreements, partnerships, alliances, joint ventures, and collaboration. Contracts and agreements was the most commonly adopted strategy from January 2016 to April 2019. These industry players also adopted new product launches as major strategies during that period.
ABB is an established entity in electrification products, industrial automation, robotics, and motion, in the field of Alternating Current (AC) as well as Direct Current (DC) equipment market, serving customers in utilities, industries such as automotive, automation, and transport & infrastructure globally. The company operates through 3 business segments, namely, electrification products, robotics & motion, and industrial automation divisions. ABB has specific business units focusing on specific industrial segments and product categories. The product portfolio of the company ranges from the simplest of the switches and sockets to the most complex and advanced industrial robots.
The company operates in more than 100 countries across 4 regions, namely, Europe, Africa, the Americas, and Asia Pacific. It has manufacturing units located in Europe, the Middle East & Africa (EMEA), and North America. The company has a sizeable number of subsidiaries, some of the known ones are ABB S.A. (Argentina), ABB Australia Pty Limited (Australia), ABB AG (Austria), ABB N.V. (Austria), ABB Ltda. (Belgium), ABB Bulgaria EOOD (Bulgaria), ABB Inc. (Canada), ABB (China) Ltd., ABB Ltd. (Colombia), ABB Ltd. (Croatia), ABB S.R.O. (Czech Republic), ABB A/S (Denmark), ABB (Hong Kong) Ltd., (Hong Kong), and ABB Limited (India). In 2017, the company sold its power grid segment business to a minority-owned joint venture to Hitachi where the acquisition is expected to be completed by 2020 after which ABB will have a minor stake of 19.9% in the venture.
Siemens AG is one of the major technology companies, with core business activities in the field of electrification, automation, and digitalization. The company operates its business through 8 major business segments, namely, power & gas, energy management, mobility, digital factory, process industries & drives, financial services, Siemens Gamesa Renewable Energy (SGRE), and healthineers. Siemens AG offers a wide range of products for power generation, control, and protection.
Siemens offers a wide range of products for power generation, transmission & distribution, under its energy management business segment. The products include turbines, generators, gas engines, compressors, transmission lines, transformers, switchgears, substations, direct current transmission solutions, switching systems, distribution components, and circuit breakers. Siemens offer DC circuit breakers under the energy subdivision of the energy management business segment. Under the same subsegment, the company offers a complete solutions and product range used at all the stages of the electrical power distribution network.
Related Reports:
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
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