DC Circuit Breaker Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3581
DC Circuit Breaker Market size will witness growth on account of modernization & upgradation of existing electrical infrastructure along with rapid real estate expansion and industrialization. Increasing adoption of renewable energy technologies coupled with expansion of existing power transmission & distribution grid infrastructure will further augment the business dynamics.
Government shift toward integration of High Voltage Direct Current (HVDC) technology in line with increasing demand for secure and reliable electricity supply will positively influence DC circuit breaker market share. In 2018, as per International Energy Agency (IEA), global electricity consumption increased by 4% when compared with 2010. Reliability & longevity, economical costs, and, operational feasibility are some of the indispensable factors accelerating the product deployment.
Growing efforts to reduce power supply faults, fire hazards, and operational dereliction will stimulate DC circuit breaker market dynamics. Furthermore, expansion of micro-grid plans along with regulatory proximities toward stand-alone renewable networks will boost the product demand.
Medium Voltage DC circuit breaker market will witness growth on account of rising focus toward research & development activities to enhance the product performance along with regulatory norms to curb transmission & distribution losses. In addition, wide applicability across renewables, transportation and utilities sector will positively influence industry outlook.
DC circuit breaker market from vacuum insulation is anticipated to witness growth owing to wide applicability across transformers, switchgears, power conditioning systems, and switching devices. Noiseless operation, high insulating strength, low maintenance requirements and quick response are some of the key parameters enhancing the product demand.
Rapid industrialization, growing urban population, along with increasing demand for power will propel the DC circuit breaker market growth. Ongoing integration of smart monitoring & control units along with its wide suitability across standby power, energy storage, railways, and electric vehicles will further complement the business landscape.
Surging demand for energy on account of the presence of large number of manufacturing facilities will stimulate the Asia Pacific DC circuit breaker market. Government efforts to curb carbon emissions by enhancing renewable energy mix along with rising need for robust electrical networks will further augment the business landscape. For instance, in 2018, India’s Ministry of New & Renewable Energy (MNRE) revised its target to install 227 GW of renewable power generation capacity by 2022.
Growing demand for cost competitive products along with regulatory measures toward sustainable energy integration will drive the U.S. DC circuit breaker market share. In 2017, U.S. regulators allocated fund worth of USD 647 million for electrification project in the Peninsula Corridor.
Europe DC circuit breaker market is anticipated to witness growth owing to stringent energy efficiency reforms in line with growing demand to reinforce electricity generation, transmission and distribution networks.
Key industry players operating across DC circuit breaker market include Toshiba, ABB, Eaton, CG Power, Larsen & Toubro, Siemens, Mitsubishi, Powell, Fuji Electric, Rockwell Automation, BRUSH Group, and ENTEC Electric & Electronic.
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