Market Size of Low Voltage DC Circuit Breaker Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.25 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Low Voltage DC Circuit Breaker Market Analysis
The global low voltage DC circuit breaker market is expected to record a CAGR of more than 3.25% over the period of 2022-2027, reaching a market size of USD 2.45 billion by 2027. The COVID-19 pandemic negatively affected the low voltage DC circuit breaker market. The number of new PV installations dropped 23% from Q1 to Q2 2020 in the United States. Since the DC circuit breaker is an essential component of the solar PV system, where it acts as a barrier between direct current and alternating current, the decrease in the number of solar installations halted the market's growth in line with the pandemic. Factors such as an increase in power consumption, the rise of an influx of renewable sources in the energy mix, and a rising number of data centers and electric vehicles are expected to drive the market over the forecast period. However, increased stability of electricity supply, which is reducing the need for circuit breakers, is likely to restrain the growth of the low voltage DC circuit breaker market over the coming years.
The solar energy sector is expected to be the fastest-growing market during the forecast period, owing to increasing investments in utility-size solar power plants.
Globally, the focus has increased on investments in clean energy projects and the development of renewable energy. As a result, the extensive development of new renewable projects and growing electricity usage are likely to create an excellent opportunity for the low voltage DC circuit breaker market in the future.
Asia-Pacific dominated the low voltage DC circuit breaker market in recent years and is expected to witness significant growth in the forecast period, with a majority of the demand coming from China, Japan, South Korea, and India.
Low Voltage DC Circuit Breaker Industry Segmentation
The low voltage DC circuit breaker market report includes:
| Type | |
| Air Circuit Breaker | |
| Molded Case Circuit Breaker |
| End User | |
| Battery System | |
| Data Centers | |
| Solar Energy | |
| Transportation | |
| Other End Users |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Low Voltage DC Circuit Breaker Market Size Summary
The low voltage DC circuit breaker market is poised for growth, driven by increasing power consumption, the integration of renewable energy sources, and the rising demand from data centers and electric vehicles. Despite the initial setback due to the COVID-19 pandemic, which saw a decline in solar PV installations, the market is expected to recover and expand. The solar energy sector is anticipated to be a significant contributor to this growth, with substantial investments in utility-scale solar power plants. The market's expansion is further supported by the global shift towards clean energy projects and the development of renewable energy infrastructure, creating lucrative opportunities for low voltage DC circuit breakers.
Regionally, Asia-Pacific is expected to lead the market growth, with China, Japan, South Korea, and India being key contributors. The demand for low voltage DC circuit breakers is bolstered by the increasing need for clean energy solutions amid rapid urbanization and industrialization in these countries. Additionally, the development of solar projects with battery energy storage systems is gaining momentum, particularly in India, which is likely to further drive market demand. The market is characterized by fragmentation, with major players like ABB Ltd, Larsen & Toubro Limited, Mitsubishi Electric Corporation, Fuji Electric Co. Ltd, and Siemens AG actively participating in strategic acquisitions and product launches to enhance their market presence.
Low Voltage DC Circuit Breaker Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Market Dynamics
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1.4.1 Drivers
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1.4.2 Restraints
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1.5 Supply Chain Analysis
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1.6 Porter's Five Forces Analysis
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1.6.1 Bargaining Power of Suppliers
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1.6.2 Bargaining Power of Consumers
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1.6.3 Threat of New Entrants
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1.6.4 Threat of Substitute Products and Services
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1.6.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Air Circuit Breaker
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2.1.2 Molded Case Circuit Breaker
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2.2 End User
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2.2.1 Battery System
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2.2.2 Data Centers
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2.2.3 Solar Energy
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2.2.4 Transportation
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2.2.5 Other End Users
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 South America
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2.3.5 Middle-East and Africa
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Low Voltage DC Circuit Breaker Market Size FAQs
What is the current Low Voltage DC Circuit Breaker Market size?
The Low Voltage DC Circuit Breaker Market is projected to register a CAGR of greater than 3.25% during the forecast period (2024-2029)
Who are the key players in Low Voltage DC Circuit Breaker Market?
ABB Ltd , Larsen & Toubro Limited , Mitsubishi Electric Corporation , Fuji Electric Co Ltd and Siemens AG are the major companies operating in the Low Voltage DC Circuit Breaker Market.
