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With the increasing trend to utilize more and more electronic products for human comfort, the safety in operation of the electronic devices is the primary concern. Circuit breakers are the devices installed to protect any system from short circuit, high voltages, and high currents. The adoption of renewable sources has increased, but the renewable power generation is not as stable as conventional power generation.
This requires circuit breakers to be installed during the installation of renewable sources of energy. Also, the modernization of the obsolete infrastructure with the aim of safe and secure distribution stands as an opportunity for the growth of the global low voltage dc circuit breaker market. Further, the low voltage dc circuit breakers are more in demand due to rapid industrialization and urbanization, which has increased the demand for expansion of transmission and distribution of electricity.
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On the basis of its type, global low voltage dc circuit breaker market can be segmented into molded case circuit breakers, air circuit breakers and others. Simple and robust construction and cost-effectiveness over other modules are the factors which have led to molded case circuits breaker to dominate this segment. Based on application, the global low voltage dc circuit breaker market can be segmented into battery systems, data center, solar, transportation, and others. The increasing demand for continuous energy and growing utilization of the solar and wind energies has seen low voltage circuit breakers to be highly deployed in the battery systems.
On the basis of the end-user, the global low voltage dc circuit breaker market can be segmented into industrial, commercial, and others. The others segment is set to dominate the global low voltage dc circuit breaker market owing to significant dependency on electronic products in the residential sector, which require dc current. Also, the existing electrical infrastructures are set to go under revamp, which will ultimately boost the demand for low voltage dc breakers in the forecast period.
The key market driver for the global low voltage dc circuit breaker market is rising investments made by governments of various countries in the generation of energy using renewable sources. This increases the number of grids and decentralized power distribution. These all factor together act as market drivers for the global low voltage dc circuit breaker market.
Key market restraint for the global low voltage dc circuit breaker market is the inconsistencies in the low voltage circuit breakers, which make it vulnerable to the operational failures. Therefore, the circuit breakers have to be repeatedly looked upon to restart the supply, which acts as market restraint for the global low voltage dc circuit breaker market.
Key players operating in the global low voltage dc circuit breaker market are ABB, Larsen and Toubro, Siemens AG, Schneider Electric, Tyrida Electric, Hitachi, Fuji Electric, Powell Industries, Sensata Technologies, Mitsubishi Electric Corporation, Hyundai Electric and Energy Systems Company, Rockwell Automation, Entec Electric and Electronic, C7S Electric, and Eaton Corporation.
· Molded Case Circuit Breakers
· Air Circuit Breakers
· Battery Systems
· Data Center
· North America (The USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
The global low voltage dc circuit breaker market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The growing demand for energy and the ever-increasing urbanization have been the factors driving the growth of the global low voltage dc circuit breaker market in the Asia Pacific region. The other factor affecting the growth of the worldwide low voltage dc circuit breaker market in this region has been the growing adoption of solar energy in the region, which has resulted in increased deployment of low voltage dc circuit breaker. China, Japan, India are the dominant players in the region. Europe stands as the second most dominant region in the global low voltage dc circuit breaker market after the Asia Pacific Region, owing to its high investments in transmission grids and distribution channels for solar energy. In the North America region, the major factor driving the growth of global low voltage dc circuit breaker market is the modernization of the existing infrastructure for electricity distribution. Also, the upcoming electronic technologies have helped the demand for low voltage DC breaker to grow.