DC Circuit Breaker Market Size, Regional Outlook, Growth Potential, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2023 – 2032

DC Circuit Breaker Market size is expected to register significant growth from 2023 to 2032 with the rising power consumption, an increase in electrical network infrastructure, and growing investments in T&D infrastructure. A surge in the use of renewable sources in the energy mix, and modernization of aging infrastructure will also favor the industry expansion.
 

Furthermore, the extensive development of clean and renewable energy projects worldwide is slated to create lucrative opportunities for the DC circuit breaker market in the coming years. For instance, in November 2022, the European Commission established "Clean Tech Europe," a new platform to strengthen its renewable energy value chains. The new Platform intends to develop the vital sectors responsible for bringing about Europe's clean and digital transformations, which include renewable hydrogen, heat pumps, storage, grids, and solar and wind energy.
 

However, factors such as high installation and maintenance costs, stringent government laws, and a rise in the stability of electric supply are anticipated to obstruct the growth of the market in the coming years. Moreover, the rising inflation in the post-pandemic scenario has raised the costs of raw materials, and the supply chain disruptions caused by the Russia-Ukraine war are likely to slow down industry growth.
 

Based on type, solid-state DC circuit breakers are gaining traction owing to their ability to react and limit fault current faster than hybrid and electromechanical solutions. These devices are beneficial for most applications as faults can be secured and advanced network topology can be used within the system. The segment growth can also be ascribed to the rising number of electrification projects in power plants and extensive demand from utilities, transportation, and renewables sectors.
 

High-voltage DC circuit breaker market are poised to record growth at a robust pace between 2023 and 2032 attributed to their diverse application for photovoltaic plants, HVDC power transmission, electric traction, and more. These circuit breakers offer an effective way of power transmission across a long distance. They are developed specifically to be used for protection against fault currents in HVDC circuits.
 

Asia Pacific DC circuit breaker market is projected to register prolific gains through 2032 driven by the expanding population, industrialization, and urbanization, which has led to an increase in the power supply. This has resulted in a higher demand for DC circuit breakers across various APAC economies, including Japan, China, India, and South Korea.
 

Growing investments in the power generation sector and transmission and distribution infrastructures are anticipated to further complement the business growth. Additionally, growth in renewable project development will stimulate the demand for DC circuit breakers, thereby impelling regional industry expansions.
 

For instance, in December 2022, The World Bank, Solar Energy Corporation of India Limited (SECI), and the Government of India signed agreements for a $150 million IBRD loan, a $28 million loan from the Clean Technology Fund (CTF), and a $22 million grant from the CTF to assist India in increasing the amount of clean, renewable energy it can produce. The agreement highlights the Indian government's commitment to attaining a 500 GW renewable energy target by 2030 to combat the climatic challenges.
 

Top companies operating in the global DC circuit breaker market are ABB, Toshiba, CG Power, Industrial Solutions Limited (Murugappa Group), Eaton Corporation, Siemens AG, Larsen & Toubro Ltd., Mitsubishi Electric (Mitsubishi Group, Renault–Nissan–Mitsubishi Alliance), Rockwell Automation Inc., and Fuji Electric (Furukawa Group).
 

These companies are focusing on expanding their market presence using various strategies like new product launches, collaborations, partnerships, mergers, and acquisitions. In February 2023, Mitsubishi Electric Corporation acquired the Swedish manufacturer of direct current circuit breakers, Scibreak AB (DCCBs). The two companies agreed to boost the standing of their combined business by collaborating on the development of DCCB technologies for high-voltage direct current (HVDC) systems to support the growing worldwide deployment of renewable energy.
 

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