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DC Circuit Breakers for Renewables: Market Growth & Trends 2024-2031

04-18-2024 04:12 PM CET | IT, New Media & Software

Press release from: DataM Intelligence

DC Circuit Breakers for Renewables: Market Growth & Trends

Market Overview :

The Global DC Circuit Breaker Market forecast is estimated to reach at a high CAGR during the forecast period (2023-2030). A DC circuit breaker is an overcurrent protection device (OCPD) with additional arc-extinguishing features that protect DC-operated electrical devices. As most equipment in a house functions with AC and AC circuit breakers, DC circuit breakers are a relatively new technology to most homeowners. Home AC circuit breakers are rated to interrupt currents more significantly than 6 kA. Circuit breakers that are dual-rated for AC and DC from 48 VDC to 125 VDC are available from several manufacturers. DC circuit breakers are utilized in wind power applications with 24 VDC to 48 VDC programmable logic controllers (PLCs). When a circuit is faced with overloading, DC circuit breakers immediately turn off the power. It prevents harm to the electrical circuit and any gadgets that use electricity.

Market Trends :

The rise of an influx of renewable sources in the energy mix is creating immense demand for DC circuit breakers to grow in the forecast period. Rising power consumption globally is boosting the demand for DC circuit breakers to protect electrical devices operating with DC and contains additional arc-extinguishing measures.

The rise of an influx of renewable sources in the energy mix is creating immense demand for DC circuit breakers to grow in the forecast period.

The renewable sector is expected to show significant growth in the forecast period due to various factors such as the rising electricity share of renewables in total electricity generation, an increasing number of utility-sized renewable projects, and increasing demand for clean energy. Solar energy capacity increased by more than 1300% from 41.54 GW in 2010 to 586.43 GW in 2019, while wind energy capacity increased by 240%, from 180.85 GW in 2010 to 622.7 GW in 2019.

A high percentage of this capacity came from utility-scale wind and solar farms, which all use DC circuit breakers to solve first-fault events, corresponding to the first inadvertent connection to the earth.

In addition, electric vehicles, as their name suggests, are entirely devoid of fossil fuels and instead rely on a high-capacity rechargeable battery to operate. These batteries, in turn, work with electric vehicle charging stations that are specifically developed for them. As the system runs entirely on direct current, DC circuit breakers are required.

Since the entire system runs on direct current and no conversion to alternating current is required to charge an electric vehicle, it is usual for photovoltaic solar panels and electric vehicle charging stations to work together. Its system delivers a completely environmentally friendly and long-term transportation energy source.

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Market Segmentation :

The global DC Circuit Breaker Market applications can be segmented on voltage, type, insulation, end-user, and region.

The renewable sector is projected to witness significant growth in the forecast period due to the rising electricity percentage of renewables in total electricity generation, increasing utility-sized renewable projects, and increasing demand for clean energy.

The global DC Circuit Breaker Market analysis based on end-users is segmented into transmission and distribution, power generation, renewables, etc. The renewable sector is projected to witness significant growth in the forecast period due to the rising electricity percentage of renewables in total electricity generation, increasing utility-sized renewable projects, and increasing demand for clean energy.

Solar energy capacity increased by more than 1300% from 41.54 GW in 2010 to 586.43 GW in 2019, while wind energy capacity increased by more than 240 percent from 180.85 GW to 622.7 GW in 2010 and 2019, respectively. A high percentage of this capacity came from utility-scale wind and solar farms, which all use DC circuit breakers to solve "first-fault" events, corresponding to the first inadvertent connection to the earth.

The massive reduction in the CAPEX required to build up renewable projects such as wind and solar plants has also contributed to the expansion of the renewable sector. For instance, the cost of solar photovoltaic (PV) modules has decreased by around 99% over the last four decades.

Costs are expected to continue to decrease in the forecast period due to advancements in solar panel production technologies and the mass production of solar panels. The same trend can be seen in the cost of wind turbines, which has decreased by around 30-40% since 2009.

Geographical Share :

Growing investments in renewable energy and transmission and distribution infrastructure to meet the demands have uplifted Asia-Pacific's DC circuit breaker market share.

In 2019, Asia-Pacific dominated the global DC Circuit Breaker Market demand and was projected to continue in the future years. The market growth is due to the region's rising population, urbanization, and industrialization. As a result, there is a strong demand for a reliable power supply. Many countries invest in renewable energy and transmission and distribution infrastructure to meet these demands.

According to the International Energy Agency (IEA), between 2015 and 2021, China will add 36% of all global hydroelectricity-producing capacity and 40% of all global wind energy. China already has over 259,000 MW of new coal plants under construction, accounting for more than a third of the global coal plant pipeline.

On the other hand, India's coal consumption rate increased by 8.7% in 2018, indicating that the country is still heavily reliant on coal for electricity generation. India is also heavily investing in the renewable energy sector, with US$ 11.1 million in 2018. The vast majority of these funds went toward constructing wind and solar farms.

As a result, the region's demand for DC circuit breakers is expected to rise throughout the forecast period.

To Know More Insights - https://www.datamintelligence.com/research-report/dc-circuit-breaker-market

Competitive Landscape

The DC circuit breaker market is highly competitive with the presence of local and global companies. Some prime companies contributing to the market's growth are ABB, Siemens, Eaton, Toshiba, Fuji Electric, CG Power, Larsen & Toubro, Mitsubishi, Powell, Rockwell Automation, ENTEC Electric & Electronic, BRUSH Group, and others.

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Company Name: DataM Intelligence
Contact Person: Sai.K
Email: info@datamintelligence.com
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Website:https://www.datamintelligence.com/

About DataM Intelligence

DataM Intelligence 4Market Research is a Market Research firm that provides end-to-end business solutions to organizations from Research to Consulting. We at DataM Intelligence leverage our top trademark trends, insights, and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of Syndicate Reports & and; Customized Reports with a robust methodology.

Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries, catering to the key business research needs that influence the growth trajectory of our vast clientele.

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