India low voltage DC circuit breaker market is expected to grow at a CAGR of 11.2% during the forecast period. Increasing renewable energy projects and rapid digitalization across emerging countries are encouraging the demand for low voltage DC circuit breakers in the country. The Indian government has been actively working towards its renewable power generation capacity at a fast pace over the past few years. As per the International Brand Equity Foundation (IBEF), as of October 2019, the installed renewable energy capacity was 83.4 GW, of which solar and wind comprise 31.7 GW and 37 GW respectively. As a part of Paris Agreement commitments, the Indian government has set a target of achieving 175 GW of renewable energy capacity by 2022. These include 60 GW of wind power capacity and 100 GW of solar capacity. Such kinds of initiatives are likely to drive the growth of the market as low voltage DC circuit breakers are used in solar panels for protection of PV modules from short circuit.
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For instance, in November 2019, Schneider Electric introduced its Smart Factory in Bengaluru, India. This is the second such facility by Schneider Electric in the country which represents how the EcoStruxure architecture and related suite of offerings by the company increases operational efficiency, boosts process automation, and minimizes costs in the industrial environment.
ExoStructure is an IoT-driven platform and architecture that digitizes and facilitates medium- and low-voltage electrical distribution systems. With the launch of this new facility, Schneider Electric further reinforce its contribution to the Industry 4.0 agenda in the country by offering customers with a range of advantages of industrial digital transformation, such as increased safety and reliability, augmented performance, and preventive maintenance, and remote monitoring.
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India 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
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
