As the global economy recovers in 2021 and the supply of the industrial chain improves, the low voltage DC circuit breaker market will undergo major changes. The global low voltage DC circuit breaker market is expected to record a CAGR of more than 3.25% over the period of 2022-2027, reaching a market size of USD 2.45 billion by 2027. The COVID-19 pandemic negatively affected the low voltage DC circuit breaker market. The number of new PV installations dropped 23% from Q1 to Q2 2020 in the United States. Since the DC circuit breaker is an essential component of the solar PV system, where it acts as a barrier between direct current and alternating current, the decrease in the number of solar installations halted the markets growth in line with the pandemic. Factors such as an increase in power consumption, the rise of an influx of renewable sources in the energy mix, and a rising number of data centers and electric vehicles are expected to drive the market over the forecast period. However, increased stability of electricity supply, which is reducing the need for circuit breakers, is likely to restrain the growth of the low voltage DC circuit breaker market over the coming years.
The global low voltage DC circuit breaker industry report provides top-notch qualitative and quantitative information including: Market size (2017-2021 value and 2022 forecast). The report also contains descriptions of key players, including key financial indicators and market competitive pressure analysis.
The report also assesses key opportunities in the market and outlines the factors that are and will drive the growth of the industry. Taking into account previous growth patterns, growth drivers, and current and future trends, we also forecast the overall growth of the global low voltage DC circuit breaker market during the next few years. The global low voltage DC circuit breaker market size will reach USD million in 2028, growing at a CAGR of % during the analysis period.
The low voltage DC circuit breaker market can be split based on product types, major applications, and important regions as follows:
Larsen & Toubro Limited
Mitsubishi Electric Corporation
Fuji Electric Co Ltd
Air Circuit Breaker
Molded Case Circuit Breaker
Other End Users