Research Nester has released a report titled “Germany, Austria and Switzerland LV DC Circuit Breakers Market – Regional Demand Analysis & Opportunity Outlook 2024” which delivers detailed overview of the Germany, Austria and Switzerland LV DC circuit breakers market in terms of market segmentation by end user and by voltage.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The Germany, Austria and Switzerland LV DC circuit breakers market is segmented by end user into chemical and others, out of which, the chemical segment in Germany is anticipated to hold the minor market share by the end of 2024 as compared to the other industries segment. The growth in the chemical segment can be attributed to the growing demand for electricity in the chemical and pharmaceutical end user industries, backed by increasing investments in these sectors resulting in the growth and expansion of these industrial sectors. Moreover, the chemical segment in Germany was valued at USD 8.93 million in the year 2018 and is anticipated to attain an absolute $ opportunity of USD 20.11 million during the assessment period. In Austria, the other industries segment is anticipated to hold the largest market share by registering a CAGR of 4.19% over the forecast period. On the other hand, the other industries segment in Switzerland is anticipated to grow by 1.23 times during the assessment period. The segment in the nation was valued at USD 4.51 million in the year 2018.
The Germany, Austria and Switzerland LV DC circuit breakers market is anticipated to achieve a CAGR of 6.31% over the forecast period 2020-2024. Increasing adoption of circuit breakers over fuse, rising demand for electricity from renewable sources of energy such as wind, solar and biomass, along with increasing utilization of circuit breakers in end-user industries, especially chemical industry, are some of the factors anticipated to promote the growth of the LV DC circuit breakers market in Germany, Austria and Switzerland. The Germany, Austria and Switzerland LV DC circuit breakers market was valued at USD 63.97 million in the year 2018 and the market is anticipated to grow in Germany, Austria and Switzerland by 1.4x, 1.4x and 1.5x respectively attaining an absolute $ opportunity of USD 78.67 million, USD 213.98 million and USD 123.29 million during the assessment period.
Growing Demand for Electricity and The Rising Production of Electricity
The European Commission, in one of its statistics stated that in the year 2018 in Germany, Austria and Switzerland the total renewable energy production constituted to 188342 GWh, 50772 GWh and 37809 GWh respectively. Additionally, the International Energy Agency (IEA), stated in one of its statistics that in the year 2018 in Austria, Germany and Switzerland final electricity consumption constituted to 78 TWh, 601 TWh and 68 TWh respectively.
The growing demand for electricity on the back of increasing consumption is raising the focus of the governments of these nations to increase the generation of electricity from renewable sources of energy. Moreover, rising concern for the emissions contributed from conventional sources of power generation is also adding up to the investments made by the governments for the development of infrastructure for such alternative sources of power generation and supply, which is anticipated to raise the demand for LV DC circuit breakers, which in turn is expected to drive the growth of the market in the upcoming years.
However, concerns regarding the issues observed in the inconsistencies in limiting current and protection of any circuit faults by LV DC circuit breakers is anticipated to limit the growth of the Germany, Austria and Switzerland LV DC circuit breakers market.
This report also provides the existing competitive scenario of some of the key players of the Germany, Austria and Switzerland LV DC circuit breakers market, which includes company profiling of Fuji Electric Co., Ltd. (TYO: 6504), Hitachi, Ltd. (TYO: 6501), Larsen & Toubro Limited (NSE: LT), Mitsubishi Electric Corporation (TYO: 6503), Eaton (NYSE: ETN), Rockwell Automation, Inc. (NYSE: ROK), Siemens AG (ETR: SIE), Schneider Electric (EPA: SU), ABB (NYSE: ABB), E-T-A Elektrotechnische Apparate GmbH and Phoenix Contact. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Germany, Austria and Switzerland LV DC circuit breakers market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.