The global low voltage DC circuit breaker market is expected to grow at a CAGR of 6.2% during the forecast period. Major factors contributing to the growth of the market include increasing electricity generation from renewable sources such as solar and wind, increasing investment in the grid-scale battery storage system and increasing shift towards decentralization of electricity generation. For instance, India has started its first grid-scale battery-based energy storage system in February 2019. As per the National Energy Administration’s (NEA), China has around 175 GW worth of solar PV capacity by January 2019. However, the high cost of renewable energy setup can act as a restraint to the growth of the market.
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Some of the players operating in the global low voltage DC circuit breakers market include ABB Ltd., Eaton Corp., Hitachi Industrial Equipment Systems Co., Ltd, Larsen and Toubro ltd., Schneider Electric S.E., and Siemens AG. These players are significantly contributing to the market growth. These companies are adopting various strategies for increasing their market share.
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Low Voltage DC Circuit Breakers Market Segmentation
By Type
Air Circuit Breakers (ACB)
Molded Case Circuit Breakers (MCCB)
Miniature Circuit-Breakers (MCB)
By ApplicationCommercial
Residential
Industrial
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
