Research Nester’s recent market research analysis on “DC Circuit Breaker Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global DC circuit breaker market in terms of market segmentation by voltage, type, insulation, end user and by region.
Rising Demand for Renewable Energy to Promote Global Market Share of DC Circuit Breaker
The global DC circuit breaker market is estimated to grow majorly in the coming years. The need for energy has been consistently increasing in the past few years as more countries and companies are committing to reducing their environmental footprint. It's clear that renewable energy sources are expected to account for 95% of the global power capacity growth by 2026. As a result, there is a growing demand for DC circuit breakers in power distribution systems that rely on wind power. These circuit breakers play a role in managing the flow of electricity within these systems ensuring protection, against overloads and short circuits.
Some of the major growth factors and challenges that are associated with the growth of the global DC circuit breaker market are:
Growth Drivers:
· Growing demand for energy management systems in commercial and industrial establishments
· Increasing installation of renewable energy sources
Challenges:
Interrupting a current (DC) is more difficult compared to interrupting an alternating current (AC) because of the uninterrupted flow of DC. When a DC circuit breaker is opened there is a potential for an arc to develop between the contacts, which makes it challenging to extinguish the arc and halt the current. As a consequence, this can lead to increased wear on the contacts. Decrease the lifespan of the circuit breaker.
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By voltage, the global DC circuit breaker market is segmented into low voltage, medium voltage, and high voltage. The medium voltage segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The increase in the growth of segments can be credited to the rising demand for electricity in sectors such as households, businesses and industries. Medium voltage circuit breakers are well suited for situations that necessitate power consumption, reliability, and long-term stability. Additionally, they offer a cost-effective solution compared to Low Voltage Circuit Breakers making them a favored choice, in industrial settings.
By region, the Asia Pacific DC circuit breaker market is to generate the highest revenue by the end of 2035. The market in this region is poised for growth due to the increasing need for electricity and the necessary infrastructure. Additionally, China has ongoing projects that are expected to boost their demand for DC circuit breakers. For example, Qinghai New Energy Group Co Ltd recently announced the start of construction on the Golmud Solar CSP Power Plant, which will have a capacity of 3.3 GW and is projected to be operational, by 2024. Given the magnitude of this project it is likely that China will require a number of DC circuit breakers to effectively manage their system while prioritizing safety and efficiency.
This report also provides the existing competitive scenario of some of the key players of the ABB, Eaton, C&S Electric Limited, SIEMENS, LARSEN & TOUBRO LIMITED, Hyundai Motors, Manitoba Hydro, Schneider Electric, Tavrida Electric, Powell Industries, Sensata Technologies Inc. and others.
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