Global DC Circuit Breaker Market Size is projected to reach USD 8.92 billion by 2031, growing at a CAGR of 8.12%: Straits Research

According to Straits Research, “The global DC circuit breaker market size was valued at USD 4.42 billion in 2022. It is estimated to reach USD 8.92 billion by 2031, growing at a CAGR of 8.12% during the forecast period (2023–2031).”

New York, United States, March 20, 2024 (GLOBE NEWSWIRE) — The direct current (DC) circuit breaker is an electrical switch that prevents damage to a circuit caused by an oversupply of electricity in a direct current circuit. The purpose of a DC circuit breaker is to detect a fault and interrupt the flow of current. DC circuit breakers are installed in fuse boxes with a rail designed for installation. These devices can protect individual direct-current loads and main circuits, such as inverters, solar PV arrays, and battery banks.

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Increasing Adoption of Solar PV Systems Drives the Global Market

Increasing adoption of alternative sources of electricity, primarily solar power, is anticipated to be one of the key factors driving the DC circuit breaker market. Solar power generation is one of the cleanest sources of DC power, so the increasing global adoption of solar PV will likely increase the demand for DC circuit breakers.

The solar power industry has experienced tremendous growth over the past few years. According to the International Renewable Energy Agency, the cumulative global installed solar capacity surpassed 709 GW in 2020, a 22% increase from 2019’s 560 GW. Significant developments in the solar industry are likely to result from this scenario, driving the demand for DC circuit breakers during the forecast period.

Technological Advancements Creates Tremendous Opportunities

The power distribution sector has undergone significant transformation due to rapid technological progress. This innovation has led to the creation of extremely advanced DC circuit breakers. These circuit breakers have been designed to meet the changing requirements of power systems, thereby enhancing safety and dependability.

For instance, DC circuit breakers utilize solid-state technology. Solid-state circuit breakers utilize semiconductor devices to achieve the same result as electromechanical circuit breakers, which rely on movable components to interrupt current flow. This allows for a more precise operation and increased resistance to wear and tear from frequent use. Thus, such technological advances are anticipated to generate market expansion opportunities.

Competitive Players

The key global DC circuit breaker market players are ABB, Toshiba, Eaton Corporation, CG Power and Industrial Solutions Limited (Murugappa Group), Siemens AG, Mitsubishi Electric (Mitsubishi Group, Renault-Nissan-Mitsubishi Alliance), Larsen & Toubro Ltd., Fuji Electric (Furukawa Group), Rockwell Automation Inc., and others.

Regional Analysis

Asia-Pacific is the most significant global DC circuit breaker market shareholder and is expected to expand substantially during the forecast period. Asia-Pacific is anticipated to have a high demand for DC circuit breakers, primarily due to the region’s increasing electricity demand and the resulting need for electrical infrastructure. Government agencies throughout the Asia-Pacific region have implemented various strategies to gradually reduce carbon emissions by increasing investments in renewable energy research and development. For instance, solar capacity in the Asia-Pacific increased from 90.6 GW in 2015 to 422.6 GW in 2020. In addition, the Indian government has launched several initiatives to expand the country’s use of renewable energy sources. In September 2021, the Indian government announced plans to increase renewable energy capacity by over 175 GW in 2020, including 100 GW of solar energy and 60 GW of wind energy.

North America is a highly industrialized economy with the world’s highest power consumption and demand per capita. Along with the increasing deployment of renewable energy installations in the US, Canada, and Mexico, the region is expected to experience a robust increase in demand for energy storage. The number of data centers and vehicles in the region that contain low-voltage DC circuit breakers is increasing. As a result, North America is one of the world’s largest markets for DC circuit breakers. In addition, North America has one of the largest installed capacities for renewable energy, particularly solar energy. In the next five years, solar photovoltaic (PV) is anticipated to account for the largest annual capacity additions among renewables, surpassing wind and hydro. The cost of solar PV dropped by more than 80% between 2010 and 2020 on a global scale, and similar trends were observed in North America during the same period.

Key Highlights

  • Based on type, the global DC circuit breaker market is bifurcated into solid-state and hybrid. The solid-state segment dominates the global market and is expected to grow substantially over the forecast period.
  • Based on insulation, the global DC circuit breaker market is divided into gas and vacuum. The gas segment owns the highest market share and is predicted to grow substantially over the forecast period.
  • Based on voltage, the global DC circuit breaker market is divided into low voltage, medium voltage, and high voltage. The high-voltage DC circuit breaker segment is the largest revenue contributor to the market over the forecast period.
  • Based on the end-user, the global DC circuit breaker market is segmented into transmission and distribution, renewables and energy storage systems, commercial, and others. The transmission and distribution segment owns the highest market share and is predicted to grow significantly over the forecast period.
  • Asia-Pacific is the most significant global DC circuit breaker market shareholder and is expected to expand substantially during the forecast period.

Market News

  • In February 2023, Mitsubishi Electric Corporation announced that it had engaged in a share transfer agreement to acquire the Swedish developer of direct current circuit breakers, Scibreak AB (DCCBs).
  • In September 2022, ABB introduced a solid-state circuit breaker to secure the DC power system, SACE Infinitus. According to the company, the circuit breaker seeks to make it easier to connect, safeguard, and control DC network systems for ships of all sorts and sizes.

Global DC Circuit Breaker Market: Segmentation

By Type

  • Solid-State
  • Hybrid

By Insulation

  • Gas
  • Vacuum

By Voltage

  • Low Voltage
  • Medium Voltage
  • High Voltage

By End-Users

  • Transmission and Distribution
  • Renewables and Energy Storage Systems
  • Commercial
  • Others

By Regions

  • North America
  • Europe
  • Asia Pacific
  • South America
  • The Middle East and Africa

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About Straits Research Pvt. Ltd.

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