Global Low Voltage DC Circuit Breaker Market to Reach US$ 2.6 Billion by 2032, Facilitated by Increasing Use of Solar Panels

October 04, 2023 | Electronics and Semiconductors

According to the latest report by IMARC Group, titled “Low Voltage DC Circuit Breaker Market by Type (Air Circuit Breaker, Molded Case Circuit Breaker, and Others), Application (Battery System, Data Centers, Solar Energy, Transportation, and Others), End User (Industrial, Commercial, and Others), and Region 2024-2032,” the global low voltage DC circuit breaker market size reached US$ 1.8 Billion in 2023. Low voltage direct current (DC) circuit breaker is a protective device used in electrical circuits that operate with low voltage DC systems. It plays a critical role in safeguarding electrical equipment and preventing potential hazards. It is designed to interrupt the flow of DC when certain conditions occur, such as overcurrent, short circuits, or faults. It can be operated by opening the circuit, which effectively stops the current flow and protects the connected devices from damage.

Global Low Voltage DC Circuit Breaker Market Trends:

The increasing use of solar panels and wind turbines in renewable energy systems represents one of the major factors driving the demand for low voltage DC circuit breakers to protect and control the DC power generated around the world. Moreover, the expanding number of electric vehicle (EV) charging stations due to the shifting preferences towards EVs is fueling the market growth. In addition, the growing need for energy storage solutions, such as battery banks, for grid stability and backup power is catalyzing the demand for low voltage DC circuit breakers in battery energy storage system (BESS) installations. Apart from this, the expansion of fifth generation (5G) networks and data centers is influencing the use of low voltage DC circuit breakers to safeguard critical infrastructure. Looking forward, the market value is projected to reach US$ 2.6 Billion by 2032, expanding at a CAGR of 4.09% during 2024-2032.

Market Summary:

Based on the type, the market has been segmented into air circuit breaker, molded case circuit breaker, and others. Presently, molded case circuit breaker holds the largest market share.
On the basis of the application, the market has been segregated into battery system, data centers, solar energy, transportation, and others. Data centers currently account for the biggest share in the market.
Based on the end user, the market has been divided into industrial, commercial, and others.
Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being ABB Ltd., Eaton Corporation plc, Fuji Electric FA Components & Systems Co. Ltd. (Fuji Electric Co.Ltd.), Hitachi Ltd., Hyundai Electric and Energy Systems Co. Ltd., Mitsubishi Electric Corporation, Rockwell Automation Inc., Schneider Electric SE, Sensata Technologies Inc., and Siemens AG.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Types Covered	Air Circuit Breaker, Molded Case Circuit Breaker, Others
Applications Covered	Battery System, Data Centers, Solar Energy, Transportation, Others
End Users Covered	Industrial, Commercial, Others
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	ABB Ltd., Eaton Corporation plc, Fuji Electric FA Components & Systems Co. Ltd. (Fuji Electric Co.Ltd.), Hitachi Ltd., Hyundai Electric and Energy Systems Co. Ltd., Mitsubishi Electric Corporation, Rockwell Automation Inc., Schneider Electric SE, Sensata Technologies Inc., Siemens AG, etc.
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Global Low Voltage DC Circuit Breaker Market to Reach US$ 2.6 Billion by 2032, Facilitated by Increasing Use of Solar Panels

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