Superfast DC Circuit Breakers Market: Introduction
- Superfast DC circuit breaker is a type of DC circuit breaker that is used for the protection of electrical devices that operate with direct current. It is an essential component of DC electrical grid, as it protects an electrical circuit from damage caused by excess current from a short circuit or overload.
Key Drivers & Restraints of Superfast DC Circuit Breakers Market
- Rise in investments in development of electrical grid infrastructure in developing and developed countries is expected to drive the global superfast DC circuit breakers market during the forecast period. Superfast DC circuit breakers plays a vital role in electrical network, as they interrupt the flow of current after a fault is detected.
- Increase in spending on modernization of existing and obsolete infrastructure to ensure safe and secure distribution of electrical systems is anticipated to stimulate the global superfast DC circuit breakers market during the forecast period. Additionally, growth in capital expenditure on expansion of transmission and distribution infrastructure to meet the rising demand for electricity in developed countries is projected to boost the market during the forecast period.
- Technological innovation in design of circuit breakers to enhance operational efficiency is also likely to augment the global superfast DC circuit breakers market. Furthermore, several investments have been made by U.S. Government to develop superfast DC circuit breakers in the country. This is expected to further boost the market in the near future.
Transmission & Distribution Utilities Application Segment Expected to Hold Major Share of Global Market
- The global superfast DC circuit breakers market can be segmented based on application and region
- In terms of application, the global superfast DC circuit breakers market can be divided into transmission & distribution utilities, power generation, renewables, marine, and others. Superfast DC circuit breakers are extensively used in transmission & distribution utilities due to their ability to transmit power safely and securely.
North America to Account for Significant Share of Global Superfast DC Circuit Breakers Market
- In terms of region, the global superfast DC circuit breakers market can be classified into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- The superfast DC circuit breakers market in North America is predicted to witness rapid growth during the forecast period. This can be ascribed to the increase in efforts to develop superfast DC circuit breakers for medium voltage direct current grids. For instance, in February 2019, GE Research received funding worth US$ 5.8 Mn from the U.S. Department of Energy’s Advanced Research Projects Agency – Energy (ARPA-E) to develop and demonstrate a superfast DC circuit breaker for MVDC grids.
- The superfast DC circuit breakers market in Asia Pacific is anticipated to expand at a significant pace during the forecast period due to the increase in investments in electrification projects, and refurbishment & upgrade of existing electric networks to meet the rising demand for electricity, primarily in developed and developing economies such as Japan, South Korea, India, and China
- The superfast DC circuit breakers market in Europe is also projected to expand significantly during the forecast period due to increase in investments in installation of renewable energy-based power plants in the region. Furthermore, increase in efforts to upgrade existing alternating current (AC) distribution grids into MVDC grids is anticipated to propel the market in the region in the near future.
- The superfast DC circuit breakers market in Latin America and Middle East & Africa is likely to expand at a sluggish pace during the forecast period due to increase in demand for electricity in residential and commercial establishments
Key Players Operating in Global Market
Leading companies operating in the global superfast DC circuit breakers market include:
- General Electric
- Knorr-Bremse AG
- Fuji Electric Co., Ltd.
Global Superfast DC Circuit Breakers Market: Research Scope
Global Superfast DC Circuit Breakers Market, by Application
- Transmission & Distribution Utilities
- Power Generation
Global Superfast DC Circuit Breakers Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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