Market Research Report
China Low Voltage DC Circuit Breaker Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||947840|
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|China Low Voltage DC Circuit Breaker Market 2019-2025|
|Published: March 29, 2020||Content info:||
China 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
China low voltage DC circuit breaker market is expected to grow at a CAGR of 8.4% during the forecast period. Low-voltage DC circuit breakers market in China is primarily driven by the growth in the solar industry. The increasing demand for solar energy in the country has been reported owing to the favorable government initiatives for renewable energy sources and significant production of solar panels in the country. Since 2000, the Government of China has disclosed more than 100 policies to support the solar PV industry, which has made solar power cost-effective. It has further supported the cost of electricity from solar energy falling aside. As per the International Energy Agency (IEA), China has taken huge strides in solar power technology, primarily PV manufacturing and installations, which has made it the largest manufacturer of solar panel technology across the globe. As per the PV-Tech & Solar Media Ltd., of the top ten solar panel manufacturers across the globe, seven are Chinese. This, in turn, has led the innovations in solar panel technology in the country.
Owing to the presence of a large number of major providers of solar panels, such as JinkoSolar, JA Solar, and Trina Solar, the production capacity of solar modules is high in the country. As per the International Renewable Energy Agency (IRENA), China's total operating solar PV capacity reached 175 GW in 2018. By 2020, the target for solar PV capacity is expected to be between 210-270 GW. PV system power generation requires novel and effective electrical protection products for overvoltage, overcurrent, and isolation events. This results in the demand for low-voltage DC circuit breaker for use in solar panels.
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 China and acquire more customer base.
The market study of the China 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: