The global low-voltage DC circuit breaker market size accounted for USD 1.83 billion in 2021. It is expected to reach a value of USD 2.26 billion by 2030, growing at a CAGR of 2.72% during the forecast period (2022–2030).
Circuit breakers for low-voltage DC are essential to the electrical power distribution system. Its purpose is to isolate problematic areas of an electrical distribution system and to stop the electrical flow by disrupting continuity abruptly. Electrical installations are securely safeguarded against harm or fire by low-voltage dc circuit breakers in the event of overloads, short circuits, or ground faults. To restore regular operations, they can be reset either manually or automatically. They not only offer system protection but also make it possible to isolate specific areas of the electrical distribution for use during operation and maintenance.
Some factors boosting the market growth include expanding transmission and distribution networks, increasing emphasis on renewable energy generation, such as solar photovoltaic devices, and upgrading and modernizing outdated energy infrastructure for safe electricity delivery systems. Due to its straightforward and durable construction, dependability, and cost-effectiveness compared to other modules, the segment for molded case circuit breakers is anticipated to have the largest share in the market. Additionally, the size-compactness of the panel design saves much room.
The market for low-voltage DC circuit breakers has been significantly influenced by the rising use of alternative energy sources, particularly solar power. The market for low-voltage DC circuit breakers is anticipated to expand due to the increasing usage of solar power generation, one of the greener forms of energy production. Numerous countries have developed beneficial policies to support solar power infrastructure development. Low voltage circuit breakers offer protection at every stage of a solar system, from combiner boxes to AC and DC inverters and main panels. Only when it is sunny will the solar panels provide power. The ability to generate power even under low-intensity sunshine has been made possible by advances in solar panel technology. Manufacturers of solar panels simultaneously lowered solar panel prices.
Circuit breakers and fuses have the same function. By eliminating overloads that may start fires, they safeguard electrical circuits. They both stop the flow of electricity but do it differently. The metal used to make the fuse melts when it gets too hot. On the other hand, circuit breakers contain inbuilt switch mechanisms that a dangerous electrical surge can trigger. When compared to circuit breakers, fuses offer several benefits. The primary consideration is the price, out of all of them. Fuses are affordable and can be found at almost any hardware shop. They respond to overloading rapidly and provide additional safety for delicate electrical gadgets. On the other hand, circuit breakers cost more to install, fix, and replace, which restrains market expansion.
| Study Period | 2018-2030 | CAGR | 2.72% |
| Historical Period | 2018-2020 | Forecast Period | 2022-2030 |
| Base Year | 2021 | Base Year Market Size | USD 1.83 Billion |
| Forecast Year | 2030 | Forecast Year Market Size | USD 2.26 Billion |
| Largest Market | Asia-Pacific | Fastest Growing Market | North America |
Asia-Pacific Holds the Largest Market Share
The global low-voltage DC circuit breaker market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
Asia-Pacific dominates the global low-voltage DC circuit breaker market. Due to its rapid urbanization, industrialization, and population growth, Asia-Pacific is one of the markets with the quickest growth rates. As a result, it is anticipated that demand for data centers, transportation, and other end users will rise throughout the projected period. The income level has grown due to economic expansion in the Asia-Pacific area. So, due to the sharp increase in power consumption, there is a greater need for low-voltage DC circuit breakers in several end-user sectors. As nations work to meet rising power demand with low-carbon supply, renewable energy has grown in importance in the electricity mix. Low voltage DC circuit breakers are needed to provide stability because renewable energy sources like solar and wind must be appropriately integrated to safeguard the stability of the power system.
North America holds the second-largest market share. Due to the close economic integration of the markets in the United States, Canada, and Mexico, the North American area has developed into one of the strongest in the world. Due to rising power consumption, substantial demand for energy storage, and rising levels of renewable energy installations in the United States, Canada, and Mexico, the area continues to be one of the top consumers of low-voltage DC circuit breakers. The region also sees increased data centers and automobiles with low-voltage DC circuit breakers.
Europe’s renewable energy industry is driven by many factors, including favorable government policies, renewable energy objectives, the phase-out of coal-fired power plants, falling renewable energy costs, and switching to cleaner energy sources. Energy storage deployment is predicted to grow, boosting demand for low-voltage DC circuit breakers used in battery systems throughout the projected period. Moreover, the growing popularity of electric cars, the industrial and infrastructure sectors, and the automotive industry contributes significantly to the need for low-voltage DC circuit breakers in Europe.
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The global low-voltage DC circuit breaker market share is segmented by type, end-user, and region.
Type-wise, the global low-voltage DC circuit breaker market is classified into Air Circuit Breaker, Molded Case Circuit Breaker, and Others.
Low voltage distribution systems can benefit from circuit protection provided by Molded Case Circuit Breakers (MCCB). They safeguard attached equipment against overloads and short circuits. These are permanently mounted and primarily utilized in panelboards and switchboards. Low voltage circuit breakers include a Miniature Circuit Breaker and a Micro Circuit Breaker, which are considered thermomagnetic devices. In contrast to the micro circuit breaker, the miniature circuit breaker’s tripping circuit is fixed rather than movable. MCCB finds use in industrial applications because of its overall current ratings and strong breaking capacity. As they provide suitable protection anytime an application demands adjustable overload setting or ground fault protection, they are employed to protect capacitor banks, generator protection, and central electric feeder distribution.
The Air Circuit Breaker is the best main circuit breaker for power distribution equipment improvement. In the marine sector, an air circuit breaker’s main job is to open the circuit in the event of a failure, such as under or over voltage, short circuit, etc. A broad range of accessories is available. The air circuit breaker offers various features, including adjustment width, high-performance operating durability, and a high-rated short-time current carrying capability. It is often utilized as the main circuit breaker for buildings and factories. The expansion of maritime tourism, the increase in international marine freight transit, and the rising use of intelligent engines for situational awareness and safety are the main drivers propelling the marine engine market's growth.
End-user-wise, the global low-voltage DC circuit breaker market is categorized into Battery systems, Data Centers, Solar Energy, Transportation, and Others.
In Data Centers, low-voltage DC circuit breakers are frequently employed to guard against damage from short circuits and fluctuating energy to the expensive equipment. Over the past five years, there has been a continuous increase in demand for modular UPS technology, particularly in high-power applications like data centers. Because there are more colocation and data centers worldwide, the market for data center infrastructure is expanding. The need for data center infrastructure is fueled by the growing requirement for data centers to hold this constantly expanding volume of created data.
One of the biggest markets for low-voltage DC circuit breakers is Battery Systems. Even while battery systems may power AC equipment, the energy they store is stored as DC in their battery bank, necessitating the use of DC circuit breakers to ensure safe operation. The Energy Storage Systems (ESS), Domestic & Commercial Uninterrupted Power Supply (UPS), Domestic & Commercial Power Backup, and other parallel battery systems are all included in the battery systems section. Due to the growing need for constant power supply across various end users, including residential homes, the telecom industry, hospitals, and commercial and industrial organizations, battery systems have experienced a substantial expansion in recent years.
Over the projected period, the growth of the low-voltage DC circuit breaker market for Solar Energy will develop quickly. Since solar PV systems produce DC power, low-voltage DC circuit breakers are frequently employed. Small-scale and utility-scale solar projects use low-voltage circuit breakers to separate malfunctioning solar PV panels. With an increase in solar power of about 100 gigawatts (GW) every year over the previous four years, solar is one of the renewable energy sources that has grown dramatically. Favorable government regulations, the falling cost of solar panels, and worldwide commitments to cut carbon emissions are just a few of the key drivers that have helped the market expansion in both developed and developing economies.
The pandemic has far-reaching ramifications in all aspects of society. Compared to other industries, the impact on the credit card industry has been relatively mild, and the value of on-demand liquidity is more clear to customers. However, the industry's profitability has suffered significantly. Reduced international travel has impacted the foreign currency fees, which are a primary source of revenue for credit card companies.
Similarly, borrowers' stresses have resulted in significant increases in bad debt. Since the lockdown, consumers have shifted their spending from credit cards to debit cards as they pause larger purchases and use debit cards to pay for groceries, utilities, and other essential products and services.
According to the Reserve Bank of India data, credit card spending was Rs. 42,818 crores in June 2020, i.e., lower than the value of debit card Point of Sale (PoS) transactions, which was Rs 47,255 crore (RBI). For a prolonged period, only the sale of essential items was permitted. However, as the lockdowns were eased and the travel and retail activities increased, the market growth is expected to spur.
