DC Circuit Breaker Market to Grow with a CAGR of 6.13% through 2028
Increasing
demand for renewable energy and Expansion of the data center infrastructure are
expected to drive the Global Circuit Breaker Market growth in the forecast
period, 2024-2028.
According
to TechSci Research report, “Circuit Breaker Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Circuit Breaker Market stood at USD 4.67 billion in 2022 and is
anticipated to grow with a CAGR of 6.13% in the forecast period, 2024-2028.
One of the
primary drivers propelling the global DC Circuit Breaker market is the
increasing integration of renewable energy sources into the global power grid.
With growing environmental concerns and the shift towards sustainable energy
solutions, renewable sources like solar and wind power have gained significant
traction. These sources generate direct current (DC) electricity, which
necessitates efficient DC circuit protection. DC Circuit Breakers play a
pivotal role in safeguarding the electrical systems within renewable energy
installations, preventing faults and ensuring grid stability. Governments
worldwide are promoting renewable energy adoption through incentives,
subsidies, and targets for clean energy generation. As a result, the demand for
DC Circuit Breakers has surged, driven by the need to efficiently manage DC
power within renewable energy systems. This driver is expected to continue its
momentum as the global community intensifies efforts to reduce carbon emissions
and transition towards a sustainable energy future, emphasizing the importance
of DC Circuit Breakers in the renewable energy sector.
One of the
primary drivers propelling the global DC Circuit Breaker market is the
increasing integration of renewable energy sources into the global power grid.
With growing environmental concerns and the shift towards sustainable energy
solutions, renewable sources like solar and wind power have gained significant
traction. These sources generate direct current (DC) electricity, which
necessitates efficient DC circuit protection. DC Circuit Breakers play a
pivotal role in safeguarding the electrical systems within renewable energy
installations, preventing faults and ensuring grid stability. Governments
worldwide are promoting renewable energy adoption through incentives,
subsidies, and targets for clean energy generation. As a result, the demand for
DC Circuit Breakers has surged, driven by the need to efficiently manage DC
power within renewable energy systems. This driver is expected to continue its
momentum as the global community intensifies efforts to reduce carbon emissions
and transition towards a sustainable energy future, emphasizing the importance
of DC Circuit Breakers in the renewable energy sector.
Browse
over XX market data Figures spread through XX Pages and an in-depth TOC on
the "Global DC Circuit Breaker Market.”
The
Global DC Circuit Breaker Market is segmented into type, insulation, voltage, end-user
and company.
Based
on Insulation, The Vacuum segment is projected to boost the market in the
upcoming years. Vacuum-insulated circuit breakers have a distinct advantage
over gas-insulated ones, particularly when it comes to environmental impact.
Unlike gas-insulated circuit breakers that use sulfur hexafluoride (SF6), a
potent greenhouse gas, vacuum circuit breakers do not emit harmful gases during
operation. This environmental advantage aligns with global efforts to reduce
greenhouse gas emissions and mitigate climate change, making vacuum circuit
breakers a preferred choice in regions with strict environmental regulations.
Vacuum circuit breakers are renowned for their high level of safety and reliability.
They offer excellent interrupting capabilities, effectively quenching arcs that
may occur during a fault, and thus ensuring the protection of electrical
systems and equipment. This reliability factor is crucial in applications where
the consequences of a failure can be severe, such as in high-voltage DC
transmission lines and substations. Vacuum circuit breakers have lower
maintenance requirements compared to their gas-insulated counterparts. The
absence of gas-related components and the fact that vacuum technology does not
deteriorate over time contribute to reduced maintenance costs and increased
operational efficiency. This makes vacuum circuit breakers an attractive option
for utilities and industries seeking to minimize downtime and operational
expenses.
Based
on voltage, The High Voltage segment is expected to rise in the upcoming years
and register a significant CAGR during the forecast period. High voltage DC
transmission systems are used for long-distance power transmission and
interconnection of power grids. HVDC technology is often employed to transmit
electricity over significant distances with minimal losses, making it crucial
for renewable energy integration and cross-border electricity exchange. In
these applications, high voltage DC circuit breakers are essential for the
protection and control of HVDC lines. If there is an increased emphasis on such
large-scale HVDC projects, it could lead to a higher demand for high voltage DC
circuit breakers. As the world shifts toward greater utilization of renewable
energy sources like offshore wind farms and large-scale solar installations,
high voltage DC transmission becomes more common. These projects require
efficient DC circuit protection, and high voltage DC circuit breakers play a
critical role in ensuring the safety and reliability of these systems. The
growth of renewable energy projects, especially those involving HVDC
transmission, could contribute to the prominence of high voltage DC circuit
breakers. The modernization and interconnection of power grids, both within
countries and across borders, often involve the deployment of HVDC technology.
Major
companies operating in the Global DC Circuit Breaker Market are:
- ABB Ltd
- Siemens AG
- Schneider Electric
SE
- GE Grid Solutions
- Mitsubishi Electric
Corporation
- Eaton Corporation
plc
- Littelfusen Inc
- Mersen Corporate
Services SAS
- Crompton Greaves
Consumer Electricals Limited
- Fuji Electric Co.,
Ltd
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“The
Global DC Circuit Breaker market is expected to rise in the upcoming years and
register a significant CAGR during the forecast period. The
growth of the market is driven by the increasing demand for renewable energy,
the growing adoption of electric vehicles, and the expansion of the data center
infrastructure. Additionally, Asia Pacific is the fastest growing region due to
the growing demand for renewable energy and the expansion of the data center
infrastructure in the region. therefore, the market for DC circuit breaker is
expected to boost in the upcoming years.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“DC
Circuit Breaker - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028Segmented By Type (Solid-State and Hybrid), By Insulation
(Gas and Vacuum), By Voltage (Low Voltage, Medium Voltage, and High Voltage),
By End-User (Transmission and Distribution, Renewables and Energy Storage
Systems, Commercial, and Others), By Region, and By Competition”, has
evaluated the future growth potential of Global DC Circuit Breaker Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Global DC Circuit Breaker Market.
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