The DC circuit breaker market is projected to grow at a CAGR of 6.54%, from 2019 to 2024
NEW YORK, May 16, 2019 /PRNewswire/ -- The DC circuit breaker market is projected to grow at a CAGR of 6.54%, from 2019 to 2024.
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The DC circuit breaker market is projected to reach USD 3.2 billion by 2024, from an estimated USD 2.3 billion in 2019 at a CAGR of 6.54%. This growth can be attributed to the increasing demand for reliable and secure power supply worldwide and increasing government investments in electrification projects and growing adoption of renewable resources. However, governmental laws and regulations and high installation and maintenance cost of the DC circuit breaker can hinder the growth of the market.
The medium voltage segment is expected to be the fastest growing market in the DC circuit breaker from 2019 to 2024.
The medium voltage segment is estimated to be the fastest growing segment during the forecast period.The medium voltage DC circuit breaker finds applications in industrial power and distribution, renewables, utilities, and transportation to protect and control the power transmission network.
Growing demand for transmission and distribution infrastructure because of the rising need for energy in developing countries including India, China, and African countries and efforts to tap more renewable sources of energy growing demand is expected to drive the medium voltage DC circuit breaker market during the forecast period.
Solid-State: The fastest growing market for DC circuit breaker.
The solid-state segment, by type, is estimated to be the fastest growing segment during the forecast period.The increasing number of electrification projects in power plants and high demand from process industries such as utilities, renewables, and transportation would drive the solid-state segment of the DC circuit breaker market.
Implementation of higher number of Medium Voltage Direct Current (MVDC) projects globally is expected to boost the solid-state DC circuit breaker market.
Asia Pacific: The fastest growing market for DC circuit breaker market.
The Asia Pacific is estimated to be the fastest growing market for DC circuit breakers in 2024 and is projected to grow at the highest CAGR during the forecast period.The increasing power generation capacity, focus on renewables, and plans to increase the electrification rate are expected to drive the DC circuit breaker market in the region.
China and India are heavily investing in T&D infrastructure to meet the growing demand for electricity.North America is the second most lucrative market for DC circuit breaker as replacement and refurbishment of the existing infrastructure is the major requirement in the local T&D scenario.
Meanwhile, Europe is another major market for DC circuit breakers, since the concept of smart grid technologies is gaining momentum particularly among the European Union (EU).A renewed focus on renewable sources of energy is being developed in countries such as Germany and the UK.
These upcoming power generation sources are expected to push the growth of new T&D lines, which in turn would increase the requirements for DC circuit breaker.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1– 55%, Tier 2 – 25%, and Tier 3 – 20%
• By Designation: C-Level - 35%, D - Level 30%, and Others - 35%
By Region: North America - 15%, Europe - 20%, Asia Pacific- 30%, the Middle East & Africa- 25%, and South America- 10%
Note: Others includes product engineers and product specialists.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2017. Tier 1: >USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3:
The leading players in the DC circuit breaker market include ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Toshiba (Japan), Larsen & Toubro (India), Mitsubishi (Japan), Powell (US), Rockwell Automation (US), Fuji Electric (Japan), CG Power (India), ENTEC Electric & Electronic (South Korea), and BRUSH Group (UK).
Research Coverage:
The report defines, describes, and forecasts the global DC circuit breaker market by voltage, type, insulation, end-user, and region.It also offers a detailed qualitative and quantitative analysis of the market.
The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges.It also covers various important aspects of the market.
These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the DC circuit breaker market.
Why Buy this Report?
1. The report identifies and addresses key markets for DC circuit breaker, which would help manufacturers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help them in making strategic decisions.
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