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According to the latest research report released by Markets and Markets, the global low-voltage DC circuit breaker market demand this year is expected to be $1.
2 billion, and by 2024, this data is expected to reach $1.
5 billion, with a compound annual growth rate of 5.
68%.
This growth can be attributed to the modernization of aging power infrastructure, increasing demand for safe and reliable transmission and distribution, increasing industrialization and urbanization, increasing focus on renewable energy generation technologies such as solar energy, and increasing
demand for microgrid systems.
In terms of application market, data centers are expected to be the fastest growing and most demanded market
during the forecast period.
Because low-voltage DC circuit breakers are the main components used in cloud storage applications, cloud storage applications are an important part
of digital operations for every task, including smart grids.
For ease of operation and reliability, most existing operations will have to be digitized
in the near future.
By type, the molded case circuit breaker market is expected to be the market with the largest demand during the forecast period
.
Molded Case Circuit Breakers (MCCBs) feature a simple yet robust construction, making them more reliable and cost-effective
than comparable products.
This is one of the main reasons why MCCBs are used more than air circuit breakers (ACBs) and other types of
low-voltage DC circuit breakers.
The segment is expected to grow at a CAGR of 5.
71% during the forecast period, with a market share of $1.
2 billion by 2024.
From the perspective of market region, Asia Pacific is expected to become the largest market
for low-voltage DC circuit breakers by 2024.
Countries such as China, Japan, and South Korea are considered major manufacturing centers
for low-voltage DC circuit breakers.
In the past few years, the region has experienced rapid economic development, and the growth of solar power generation and strengthening of the transmission and distribution sector have led to an increase
in the low-voltage DC circuit breaker market.
From the perspective of suppliers, ABB (Switzerland), Eaton (USA), Siemens (Germany), Schneider Electric (France), L&T (India) and Hitachi (Japan) will be the main suppliers
of low-voltage DC circuit breakers.
According to the latest research report released by Markets and Markets, the global low-voltage DC circuit breaker market demand this year is expected to be $1.
2 billion, and by 2024, this data is expected to reach $1.
5 billion, with a compound annual growth rate of 5.
68%.
This growth can be attributed to the modernization of aging power infrastructure, increasing demand for safe and reliable transmission and distribution, increasing industrialization and urbanization, increasing focus on renewable energy generation technologies such as solar energy, and increasing
demand for microgrid systems.
In terms of application market, data centers are expected to be the fastest growing and most demanded market
during the forecast period.
Because low-voltage DC circuit breakers are the main components used in cloud storage applications, cloud storage applications are an important part
of digital operations for every task, including smart grids.
For ease of operation and reliability, most existing operations will have to be digitized
in the near future.
By type, the molded case circuit breaker market is expected to be the market with the largest demand during the forecast period
.
Molded Case Circuit Breakers (MCCBs) feature a simple yet robust construction, making them more reliable and cost-effective
than comparable products.
This is one of the main reasons why MCCBs are used more than air circuit breakers (ACBs) and other types of
low-voltage DC circuit breakers.
The segment is expected to grow at a CAGR of 5.
71% during the forecast period, with a market share of $1.
2 billion by 2024.
From the perspective of market region, Asia Pacific is expected to become the largest market
for low-voltage DC circuit breakers by 2024.
Countries such as China, Japan, and South Korea are considered major manufacturing centers
for low-voltage DC circuit breakers.
In the past few years, the region has experienced rapid economic development, and the growth of solar power generation and strengthening of the transmission and distribution sector have led to an increase
in the low-voltage DC circuit breaker market.
From the perspective of suppliers, ABB (Switzerland), Eaton (USA), Siemens (Germany), Schneider Electric (France), L&T (India) and Hitachi (Japan) will be the main suppliers
of low-voltage DC circuit breakers.
