The DC circuit breaker market is expected to grow at a CAGR of 8.32% during 2022-2027, from $343.0 million in 2020 to $638.1 million in 2027.In 2020, sales of DC circuit breakers were negatively impacted due to a significant drop in global power generation and transmission during the pandemic.
NEW YORK, April 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “DC Circuit Breaker Market – Growth, Trends, COVID-19 Impact and Forecast (2022 – 2027)” – https://www.reportlinker .com/p06271905/?utm_source=GNW Factors such as increasing influx of renewables in the energy mix and growing adoption of HVDC transmission and upgrading and modernization of aging infrastructure are expected to drive the market over the forecast period.Increased power supply stability thereby reducing the demand for circuit breakers is likely to restrain the growth of the DC circuit breaker market in the coming years.Key Highlights During the forecast period, the solid-state segment is expected to dominate the DC circuit breaker market.Globally, investment in clean energy projects and the development of the renewable energy sector are receiving increasing attention.Therefore, the extensive development of new renewable energy projects and the increase in electricity usage may create excellent opportunities for the DC circuit breaker market in the future.Asia Pacific has dominated the DC circuit breaker market in recent years and is expected to witness significant growth over the forecast period, with the majority of demand coming from China and India.Key Market Trends The solid-state segment is expected to dominate the market. Solid-state DC circuit breakers replace traditional components of electromechanical circuit breakers with advanced software algorithms and semiconductors, with the use of milliseconds.In the event of an internal failure, energy storage systems and electrical DC grid services are strongly affected by outages.Solid-state DC circuit breakers can help quickly disconnect faulty areas and prevent system shutdowns.Additionally, solid-state DC circuit breakers can interrupt DC current without arcing and require no maintenance.The trip and switch unit is solid state and meets precision protection requirements. It uses an emitter-turn-off (ETO) thyristor as the switch and contains a cathode, anode and three gate electrodes.The growth of renewable energy installations such as wind and solar power has driven the development of HVDC transmission.It is a key technology for connecting various AC power grids and economically transmitting large-capacity renewable energy over long distances, especially in remote areas.Also, DC short circuit fault is a major challenge for HVDC transmission systems as it can damage power converters and other electrical equipment, so solid-state DC circuit breakers are used as a key technology in these systems so it can shut down quickly fault the line and keep the voltage within acceptable limits.Additionally, solid-state DC circuit breakers are faster, more flexible, more continuous, and less expensive than mechanical DC circuit breakers.It covers fewer topologies than hybrid DC circuit breakers.In addition, solid state DC circuit breakers are also used in ships, as in most ships the power is supplied from the DC grid.Solid-state DC circuit breakers interrupt short-circuit currents in microseconds, prevent arcing, and cover fewer topologies.Overall, due to increased investment in the HVDC transmission and distribution industry, mainly in regions with high renewable energy adoption such as Europe, North America and Asia Pacific, coupled with growing electricity consumption in the marine industry.Asia Pacific to dominate the market A large demand for DC circuit breakers is expected in the Asia Pacific region, mainly due to the growing electricity demand in the region and the related requirements for power infrastructure.Environmental pollution is one of the major concerns of the world, and Asia-Pacific countries such as China and India are among the world’s largest producers of greenhouse gases.Government agencies across the Asia-Pacific region have launched a number of strategies to gradually reduce carbon emissions by increasing investment in renewable energy research and development.For example, installed solar capacity in the Asia-Pacific region grew from 90.6 GW in 2015 to 422.6 GW in 2020.The scale of development initiatives and production activities in the region.For example, in February 2022, China’s National Energy Administration announced that it had revised its target to increase the share of renewable energy in China’s energy mix to 25% by 2025, in line with the government’s goal of achieving carbon neutrality by 2060.Construction is underway in China, which is expected to increase the demand for DC circuit breakers in the country.For example, in July 2021, Qinghai New Energy Group Co., Ltd. announced the start of construction of a 3.3 GW Golmud solar CSP power station, which is expected to be commissioned in 2024.In March 2022, the Chinese government announced plans to build numerous electric vehicle charging stations across the country to support the country’s growing demand for electric vehicles.For example, China’s new energy vehicle sales and exports in 2021 will be about 3 million units.In addition, the Indian government has launched a number of strategies to increase the adoption of renewable energy in the country.For example, in September 2021, the Indian government announced plans to increase India’s renewable energy capacity by more than 175 GW in 2020, including 100 GW of solar and 60 GW of wind.In 2021, about 10.4 GW of solar capacity was added to the country’s national grid in 2021.Hence, Asia Pacific is expected to dominate the market during the forecast period owing to the above-mentioned points.Competitive Landscape The DC circuit breaker market is fragmented.Some of the key players in this market include ABB Ltd., Eaton Corporation PLC, Mitsubishi Electric Corporation, Fuji Electric Co., Ltd. and Siemens AG.Additional Benefits: Market Estimates (ME) Table in Excel Format Analyst Support for 3 Months Read the full report: https://www.reportlinker.com/p06271905/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution .Reportlinker finds and organizes the latest industry data so you have all the market research you need in one place, instantly.______________________________
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Post time: May-11-2022