DC Circuit Breaker Market Size
| Study Period | 2020-2029 |
| Market Size (2024) | USD 4.93 Billion |
| Market Size (2029) | USD 7.35 Billion |
| CAGR (2024 - 2029) | 8.32 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
DC Circuit Breaker Market Analysis
The DC Circuit Breaker Market size is estimated at USD 4.93 billion in 2024, and is expected to reach USD 7.35 billion by 2029, growing at a CAGR of 8.32% during the forecast period (2024-2029).
- Over the medium period, factors such as the rise of an influx of renewable sources in the energy mix, rising adoption of HVDC transmission, and the upgradation and modernization of aging infrastructure are expected to drive the market in the forecast period.
- On the other hand, a rise in the stability of electricity supply, thereby reducing the need for circuit breakers, is likely to restrain the growth of the DC circuit breaker market in the coming years.
- Nevertheless, the focus has increased on investments in clean energy projects and the development of the renewable energy sector. As a result, the extensive development of new renewable projects and rising electricity usage is likely to create an excellent opportunity for the DC circuit breaker market in the future.
DC Circuit Breaker Market Trends
Solid-State Segment Expected to Dominate the Market
- Solid-State DC circuit breaker replaces traditional parts of electromechanical circuit breakers with advanced software algorithms and semiconductors that may control power and interrupt power systems faster within a few microseconds than electromechanical ones that utilize a few milliseconds. In the case of internal fault, energy storage systems and electrical DC grid services are strongly affected by downtime. A solid-state DC circuit breaker may help disconnection of fault zones rapidly and prevent the system's shutdown.
- In addition, a solid-state DC circuit breaker may interrupt DC current without generating an arc and is maintenance-free. The tripping and switch units are solid-state, which meets precise protection requirements, and it uses an emitter turn-off (ETO) thyristor as the switch, which contains a cathode, anode, and three gate electrodes.
- The growth of renewable energy installations such as wind and solar power has driven the development of HVDC transmission. It is a crucial technology to connect various AC grids and economical transmission of large-capacity renewable energy over long distances, especially in remote areas.
- According to the International Renewable Energy Agency, the world's total renewable energy installed capacity accounted for 3371.79 GW in 2022, an annual growth rate of 9.6% compared to the previous year.
- Further, a DC short-circuit fault is a significant challenge to the HVDC transmission system as it may cause damage to the power converter and other electrical instruments, so a solid-state DC circuit breaker is used in these systems as a key technology so it may quickly switch off faulty lines and keep the voltage in acceptable ranges.
- Moreover, the solid-state DC circuit breaker is faster, more flexible, and more continuous than the mechanical DC breaker, which costs less. It covers less topology than the hybrid DC circuit breaker.
- Furthermore, a solid-state DC circuit breaker is also used in ships as the power supply is through DC grids in most marine vessels. A solid-state DC circuit breaker interrupts short-circuit current in microseconds, preventing arcing, and covers less topology.
- Overall, the solid-state DC circuit breaker segment is expected to grow due to increasing investment in the HVDC transmission and distribution industry, primarily in regions with significant renewable energy adoption, such as Europe, North America, and Asia-Pacific, coupled with increasing power consumption among the marine industry.
Asia-Pacific to Dominate the Market
- The Asia-Pacific region is expected to witness substantial demand for DC circuit breakers, primarily due to the growth in electricity demand across the region and the related requirement of electrical infrastructure.
- Environmental pollution is among the significant world concerns, and countries in Asia-Pacific such as China and India are among some of the largest producers of greenhouse gases across the globe.
- Government bodies across countries in the Asia Pacific region have initiated numerous strategies to gradually reduce carbon emissions by increasing investments in the research and development of renewable energy sources. For instance, the installed solar capacity in Asia-Pacific grew from 96.66 GW in 2015 to 624.97 GW in 2020.
- The rapid rise in the adoption of solar energy is attributed to the declining cost of solar energy equipment, which has been fuelled by continuous research and development initiatives and scaling of production activities in the region.
- For instance, in February 2022, China's National Energy Administration announced that it had revised the target of increasing the share of renewable energy in China's energy mix to 25% by 2025, in line with the government's objectives to achieve carbon neutrality by 2060.
- Numerous projects in China are being constructed and are expected to boost the country's demand for DC circuit breakers. For instance, In July 2022, the National Development and Reform Commission of China announced a plan for new-build public buildings and factories in towns and cities to be covered at 50% by solar panels by 2025, which is expected to be a significant driver for the solar energy market in the country.
- In March 2022, the Chinese government announced that it is planning to construct numerous electric vehicle charging stations across the country to support the growing demand for electric vehicles across the country. For instance, in 2021, approximately 3 million new energy vehicles were sold and exported from China.
- Further, the Government of India has also initiated numerous strategies to increase the adoption of renewable energy sources in the country.
- For instance, to follow the green revolution in the country, the Indian government aims to 500 GW of installed renewable energy by 2030, which includes the installation of 280 GW of solar power and 140 GW of wind power.
- Therefore, owing to the above points, Asia-Pacific is expected to dominate the market during the forecast period.
DC Circuit Breaker Industry Overview
The DC circuit breaker market is fragmented. Some of the key players in this market (not in any particular order) include ABB Ltd, Eaton Corporation PLC, Mitsubishi Electric Corporation, Fuji Electric Co Ltd, and Siemens AG., among others.
DC Circuit Breaker Market Leaders
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ABB Ltd
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Mitsubishi Electric Corporation
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Fuji Electric Co Ltd
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Siemens AG
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Eaton Corporation PLC
*Disclaimer: Major Players sorted in no particular order
DC Circuit Breaker Market News
- In February 2023, Mitsubishi entered into a share transfer agreement to acquire Scibreak AB, a Swedish-based company that develops direct current circuit breakers (DCCBs). Both companies aim to build DCCB technologies for high-voltage direct current (HVDC) systems to support the increasing global deployment of renewable energy.
- In March 2022, In line with shared commitments to decarbonize, National Grid and Siemens Energy teamed up to undertake an upgrade of a National Grid substation using Siemens Energy-designed fluorinated gas-free called – Blue DC circuit breakers, which are made of clean air insulation and vacuum switching technology. Scheduled for commissioning in 2023, Siemens Energy’s Blue DC circuit breakers will be installed in Massachusetts, United States substation that serves several Massachusetts communities. The first Siemens Energy Blue circuit breaker installation will be in National Grid’s United States electricity network.
DC Circuit Breaker Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD, till 2028
- 4.3 Recent Trends and Developments
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4.4 Market Dynamics
- 4.4.1 Drivers
- 4.4.1.1 The Rise of an Influx of Renewable Sources
- 4.4.1.2 Rising Adoption of HVDC Transmission
- 4.4.2 Restraints
- 4.4.2.1 A Rise in the Stability of Electricity Supply, thereby Reducing the Need for Circuit Breakers
- 4.5 Supply Chain Analysis
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4.6 Porter's Five Forces Analysis
- 4.6.1 Bargaining Power of Suppliers
- 4.6.2 Bargaining Power of Consumers
- 4.6.3 Threat of New Entrants
- 4.6.4 Threat of Substitutes Products and Services
- 4.6.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Type
- 5.1.1 Solid-State
- 5.1.2 Hybrid
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5.2 Insulation
- 5.2.1 Gas
- 5.2.2 Vacuum
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5.3 Voltage
- 5.3.1 Low Volatage
- 5.3.2 Medium Voltage
- 5.3.3 High Voltage
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5.4 End-User
- 5.4.1 Transmission and Distribution
- 5.4.2 Renewables and Energy Storage Systems
- 5.4.3 Commercial
- 5.4.4 Others
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5.5 Geography
- 5.5.1 North America
- 5.5.1.1 United States of America
- 5.5.1.2 Canada
- 5.5.1.3 Rest of the North America
- 5.5.2 Europe
- 5.5.2.1 United Kingdom
- 5.5.2.2 Germany
- 5.5.2.3 France
- 5.5.2.4 Italy
- 5.5.2.5 Rest of the Europe
- 5.5.3 Asia-Pacific
- 5.5.3.1 China
- 5.5.3.2 India
- 5.5.3.3 South Korea
- 5.5.3.4 Rest of the Asia-Pacific
- 5.5.4 South America
- 5.5.4.1 Brazil
- 5.5.4.2 Argentina
- 5.5.4.3 Rest of the South America
- 5.5.5 Middle-East and Africa
- 5.5.5.1 United Arab Emirates
- 5.5.5.2 Saudi Arabia
- 5.5.5.3 Rest of the Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 ABB Ltd
- 6.3.2 Larsen & Toubro Limited
- 6.3.3 Mitsubishi Electric Corporation
- 6.3.4 GEYA Electrical Co.
- 6.3.5 Entec Electric & Electronic Co Ltd
- 6.3.6 Hyundai Electric & Energy Systems Company
- 6.3.7 Rockwell Automation
- 6.3.8 Eaton Corporation PLC
- 6.3.9 Siemens AG
- 6.3.10 Nader Electrical
- 6.3.11 Fuji Electric Co Ltd
- 6.3.12 Powell Industries, Inc.
- 6.3.13 Schneider Electric SE
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Development of New Renewable Projects and Rising Electricity Usage
DC Circuit Breaker Industry Segmentation
DC circuit breakers are used to protect devices operating on direct current (DC). Its primary function is to automatically shut off power when a circuit is overloaded due to voltage fluctuations and other power quality issues, thus protecting sensitive equipment from getting damaged and preventing short circuits.
The DC circuit breaker market is segmented by type, insulation, voltage, and geography. By type, the market is segmented by solid state and hybrid. By insulation, the market is segmented by gas and vacuum. By end-user, the market is segmented by transmission and distribution, renewables and energy storage system, commercial and others. The report also covers the market size and forecasts for the DC circuit breaker market across major regions, such as Asia-Pacific, North America, Europe, South America, and the Middle East and Africa. For each segment, the market sizing and forecasts have been done based on revenue (USD).
| Type | Solid-State | |
| Hybrid | ||
| Insulation | Gas | |
| Vacuum | ||
| Voltage | Low Volatage | |
| Medium Voltage | ||
| High Voltage | ||
| End-User | Transmission and Distribution | |
| Renewables and Energy Storage Systems | ||
| Commercial | ||
| Others | ||
| Geography | North America | United States of America |
| Canada | ||
| Rest of the North America | ||
| Geography | Europe | United Kingdom |
| Germany | ||
| France | ||
| Italy | ||
| Rest of the Europe | ||
| Geography | Asia-Pacific | China |
| India | ||
| South Korea | ||
| Rest of the Asia-Pacific | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of the South America | ||
| Geography | Middle-East and Africa | United Arab Emirates |
| Saudi Arabia | ||
| Rest of the Middle-East and Africa |
DC Circuit Breaker Market Research FAQs
How big is the DC Circuit Breaker Market?
The DC Circuit Breaker Market size is expected to reach USD 4.93 billion in 2024 and grow at a CAGR of 8.32% to reach USD 7.35 billion by 2029.
What is the current DC Circuit Breaker Market size?
In 2024, the DC Circuit Breaker Market size is expected to reach USD 4.93 billion.
Who are the key players in DC Circuit Breaker Market?
ABB Ltd, Mitsubishi Electric Corporation, Fuji Electric Co Ltd, Siemens AG and Eaton Corporation PLC are the major companies operating in the DC Circuit Breaker Market.
Which is the fastest growing region in DC Circuit Breaker Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in DC Circuit Breaker Market?
In 2024, the Asia Pacific accounts for the largest market share in DC Circuit Breaker Market.
What years does this DC Circuit Breaker Market cover, and what was the market size in 2023?
In 2023, the DC Circuit Breaker Market size was estimated at USD 4.52 billion. The report covers the DC Circuit Breaker Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the DC Circuit Breaker Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
DC Circuit Breaker Industry Report
The DC Circuit Breaker Market Report is segmented by type, insulation, voltage, end-user, and geography. The report offers market size and forecasts in revenue for all the above segments. The market analysis includes a forecast outlook and historical overview, providing valuable industry information.
The market segmentation covers various types such as solid-state and hybrid, along with insulation types like gas and vacuum. The voltage segment includes low, medium, and high voltage, catering to different end-users such as transmission and distribution, renewables and energy storage systems, and commercial sectors.
Understanding the market forecast and market growth is essential for stakeholders. The report highlights the industry size, market value, and market trends, offering a comprehensive industry overview. It also includes industry statistics and market data, which are crucial for making informed decisions.
Industry reports and research companies have contributed to this detailed industry analysis, providing insights into market leaders and their strategies. The market review and market outlook sections offer predictions on future trends and growth opportunities.
For a deeper dive, the report example and report PDF are available for download, giving a thorough market review. This industry research is vital for understanding the market dynamics and preparing for future developments in the DC circuit breaker market.
