European low voltage DC circuit breaker market is estimated to grow at a CAGR of 7.9% during the forecast period. Europe is home to various major automotive companies and represents a significant share of the global automotive industry which has significantly contributed to the LVDC circuit breakers market growth. As per the International Organization of Motor Vehicle Manufacturers, around 21 million new vehicles were sold in Europe in 2018. EU 15 +EFTA (European Free Trade Association) has registered sales of around 16.4 million vehicles in 2018. Germany is the biggest vehicle manufacturer in Europe followed by UK. In 2018, Germany registered 3.8 million new vehicles with a growth rate of nearly 3%, year on year basis.
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LVDC circuit breaker market has been positively influenced by the rising electric vehicle sales. According to IEA, in 2016, new electric car sales (BEV and PHEV) in Norway was 44.9 thousand which increased to 72.7 thousand in 2018. Further, Germany, France, and UK also generated significant electric car sales in both BEV and PHEV. Several supporting policies for fuel, economy standards for cars and trucks, and the Clean Vehicles Directive fuel the demand for electric vehicles. Hence, it creates demand for charging infrastructure in the region, hence creates demand for LVDC circuit breakers market in the region. Electric cars have a fuse box with DC circuit breakers. It is also used in electric vehicles charging stations as its entire system works with direct current.
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European Low Voltage DC Circuit Breaker Market Segmentation
By Type
- Air Circuit Breakers (ACB)
- Molded Case Circuit Breakers (MCCB)
- Miniature Circuit Breakers (MCB)
By Application
- Residential
- Commercial
- Industrial
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
