Global $2.33 Bn DC Circuit Breaker Market Forecast to 2024 with ABB, Siemens, Eaton, Toshiba, and Larsen & Toubro Dominating
DUBLIN, May 24, 2019 /PRNewswire/ -- The "DC Circuit Breaker Market by Voltage (Medium Voltage and High Voltage), Type (Solid-State and Hybrid), Insulation (Vacuum and Gas), End-User (T&D utilities, Power generation, Renewables, and Railways) and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The DC circuit breaker market was estimated to be USD 2,339.9 million in 2019 and is projected to reach USD 3,211.5 million by 2024, at a CAGR of 6.54%.
The DC circuit breaker market is projected to grow at a CAGR of 6.54%, from 2019 to 2024.
This growth can be attributed to the increasing demand for reliable and secure power supply worldwide and increasing government investments in electrification projects and the growing adoption of renewable resources. However, governmental laws and regulations and high installation and maintenance costs of the DC circuit breaker can hinder the growth of the market.
The medium voltage segment is expected to be the fastest-growing market in the DC circuit breaker from 2019 to 2024.
The medium voltage segment is estimated to be the fastest-growing segment during the forecast period. The medium voltage DC circuit breaker finds applications in industrial power and distribution, renewables, utilities, and transportation to protect and control the power transmission network. Growing demand for transmission and distribution infrastructure because of the rising need for energy in developing countries including India, China, and African countries and efforts to tap more renewable sources of energy growing demand is expected to drive the medium voltage DC circuit breaker market during the forecast period.
Solid-State: The fastest-growing market for DC circuit breaker.
The solid-state segment, by type, is estimated to be the fastest-growing segment during the forecast period. The increasing number of electrification projects in power plants and high demand from process industries such as utilities, renewables, and transportation would drive the solid-state segment of the DC circuit breaker market. Implementation of a higher number of Medium Voltage Direct Current (MVDC) projects globally is expected to boost the solid-state DC circuit breaker market.
Asia Pacific: The fastest-growing market for the DC circuit breaker market.
The Asia Pacific is estimated to be the fastest-growing market for DC circuit breakers in 2024 and is projected to grow at the highest CAGR during the forecast period. The increasing power generation capacity, focus on renewables and plans to increase the electrification rate are expected to drive the DC circuit breaker market in the region. China and India are heavily investing in T&D infrastructure to meet the growing demand for electricity. North America is the second most lucrative market for DC circuit breaker as the replacement and refurbishment of the existing infrastructure is the major requirement in the local T&D scenario.
Meanwhile, Europe is another major market for DC circuit breakers, since the concept of smart grid technologies is gaining momentum particularly among the European Union (EU). A renewed focus on renewable sources of energy is being developed in countries such as Germany and the UK. These upcoming power generation sources are expected to push the growth of new T&D lines, which in turn would increase the requirements for DC circuit breaker.
The major players in the DC circuit breaker market are ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Toshiba (Japan), and Larsen & Toubro (India) among others.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.2 Market Dynamics
126.96.36.199 Increasing Investments in the Electrical Network Infrastructure
188.8.131.52 Growth in Renewable Power Generation
184.108.40.206 Increasing Demand for Reliable and Secure Power Supply Worldwide
220.127.116.11 High Cost of Installation
18.104.22.168 Adoption of the HVDC Technology
22.214.171.124 Aging Power Infrastructure and Rising Electrification Projects
126.96.36.199 Cybersecurity Issues
6 DC Circuit Breaker Market, By Voltage
6.2 Medium Voltage
6.2.1 Increasing Number of Renewable Integration Projects and Growing Infrastructure Developments are Expected to Drive the Medium Voltage DC Circuit Breaker, Market
6.3 High Voltage
6.3.1 Increasing Investments in Power Transmission and Locomotives and Rising Demand for Stable Electricity Supply are Expected to Drive the Market During the Forecast Period
7 DC Circuit Breaker Market, By Type
7.2.1 Increasing Focus to Provide Efficient & Reliable Power is Driving the Demand for Solid-State DC Circuit Breakers
7.3.1 Growth of HVDC Transmission & Distribution Networks is Expected to Drive the Demand for Hybrid DC Circuit Breakers
8 DC Circuit Breaker Market, By Insulation
8.2.1 High Insulating Strength, Suitability for Repeated Operations, & Low Maintenance Cost are Expected to Drive the Vacuum DC Circuit Breaker Market 47
8.3.1 Physical & Chemical Properties of Sf6 Gas, Compact Design, & Adaption to Atmospheric Conditions are Expected to Drive the Market During the Forecast Period
9 DC Circuit Breaker Market, By End-User
9.2 Transmission and Distribution Utilities
9.2.1 Increase in Investments in T&D Infrastructure is Expected to Drive the Market
9.3 Power Generation
9.3.1 Rising Need of Uninterrupted & Reliable Power is Expected to Drive the Market
9.4.1 Increasing Adoption Rate of Renewables is Expected to Drive the Market
9.5.1 Rising Investment in Railways is Expected to Drive the Market
10 DC Circuit Breaker Market, By Region
10.2 Asia Pacific
10.2.1.1 Rise in Installation of HVDC Projects is Expected to Drive the Market
10.2.2.1 Increasing Investments in the Utilities, Transportation Along With Urban & Rural Infrastructure Development is Driving the Market
10.2.3.1 Rising Investments in Electric Vehicles, Smart Cities is Driving the Market
10.2.4 South Korea
10.2.4.1 Increasing Focus on Renewable Energy Generation and Reducing Carbon Footprint is Major Drive for DC Circuit Breaker Market
10.2.5 Rest of Asia Pacific
10.3 North America
10.3.1.1 Replacement of Existing and Aging Grid, Modernization of Grids Drives DC Circuit Breaker Market
10.3.2.1 Medium Voltage Segment Dominated the Canadian DC Circuit Breaker Market
10.3.3.1 Government Initiatives to Reduce T&D Losses, and Investment in Smart Grid Technologies is Expected to Drive the Market
10.4.1.1 Growing Industrial Sector & Increasing Investments in Energy Projects is Driving the Market
10.4.2.1 Increasing Investments in Smart Grid and Rising Demand for Renewable Power Generation are Likely to Drive the Market
10.4.3.1 Strong Investment in Renewable and Electrical Network is Expected to Drive the Market
10.4.4.1 Medium Voltage Segment Dominated the DC Circuit Breaker Market
10.4.5.1 Refurbishment of Existing Electrical Grid is Driving the Market
10.4.6 Rest of Europe
10.5 South America
10.5.1.1 Rising Investments in T&D Infrastructure Development is Driving the Market
10.5.2.1 Investment in Infrastructure and Energy Efficiency Projects is Driving the Market
10.5.3.1 Medium Voltage Dominated the DC Circuit Breaker Market
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1.1 Investment in Smart Grid Infrastructure and Rising Demand for Electricity are Driving the Market
10.6.2 Saudi Arabia
10.6.2.1 Expansion of T&D Lines is Expected to Drive the Market
10.6.3 South Africa
10.6.3.1 Increasing Focus on the Refurbishing Existing Electrical Grid is Expected to Boost the Demand for DC Circuit Breaker Market
10.6.4 Rest of the Middle East & Africa
11 Competitive Landscape
11.2 Ranking of Players and Industry Concentration, 2018
11.3 Competitive Landscape Mapping, 2018
11.3.1 Visionary Leaders
11.3.3 Dynamic Differentiators
11.3.4 Emerging Companies
11.4 Competitive Scenario
11.4.1 Contracts & Agreements
11.4.2 Investments & Expansions
11.4.3 Mergers & Acquisitions
12 Company Profile
12.2 Mitsubishi Electric Corporation
12.3 Larsen & Toubro
12.4 Rockwell Automation
12.5 Entec Electric & Electronic
12.7 Cg Power and Industrial Solutons Limited
12.9 Fuji Electric
12.10 Powell Industries
12.11 Siemens Ag
12.12 Brush Group
For more information about this report visit https://www.researchandmarkets.com/r/xioubv
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:http://www.prnewswire.com/news-releases/global-2-33-bn-dc-circuit-breaker-market-forecast-to-2024-with-abb-siemens-eaton-toshiba-and-larsen--toubro-dominating-300856477.html
SOURCE Research and Markets