Market Research Report
Asia-Pacific Low Voltage DC Circuit Breaker Market 2019-2025
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|Asia-Pacific Low Voltage DC Circuit Breaker Market 2019-2025|
|Published: March 29, 2020||Content info:||
Asia-Pacific Low Voltage DC Circuit Breaker Market Size, Share & Trends Analysis Report, By Type (Air Circuit Breakers, Molded Case Circuit Breakers, and Miniature Circuit Breakers), By Application (Residential, Commercial, and Industrial) and Forecast, 2019-2025
Asia-Pacific low voltage DC circuit breaker market is estimated to grow at a CAGR of 8.8% during the forecast period. Asia-Pacific low voltage DC circuit breakers market is being significantly driven by the emerging demand for solar panels and growth in the electric vehicles market in the region. A significant rise in the demand for electric vehicles has been reported in China, which in turn, is driving the market growth. For instance, as per the International Energy Agency (IEA), Electric car deployment has been growing rapidly over the past ten years, with the global stock of electric passenger cars passing 5 million in 2018, an increase of 63% from the previous year. Around 45% of electric cars on the road in 2018 were in China, which is 2.3 million.
In comparison, Europe accounted for 24% of the global fleet, and the US represented 22%. This, in turn, contributes to the demand for DC circuit breakers as electric cars have a fuse box with DC circuit breakers. It is also used in electric vehicles charging stations as its entire system works with direct current. DC circuit breakers are used for personnel and property protection, protection against fire and additional protection against short circuits and faults. For electric vehicle charging process, the process must run safely from the view of the electric site. Therefore, electronic circuit breaker techniques are used in electric vehicle charging stations for desired protection function in case of all residual current types.
The major players in the market include ABB Ltd., Eaton Corp., Larsen and Toubro Ltd., Schneider Electric S.E., and Siemens AG. These companies are adopting various strategies such as partnership and collaboration, geographical expansion, and product launch for increasing their market share. For instance, In May 2019, ABB Ltd. won a large power transmission order from China. The company supplied high voltage equipment and converter transformers. This enabled the company to establish its footprints in Asia-Pacific and acquire more customer base.
The market study of the Asia-Pacific low voltage DC circuit breaker market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.
Secondary Sources Include::
The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. It will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
The Report covers: