DC Circuit Breaker Market Regional Analysis:
APAC Market Insights
Asia Pacific industry is predicted to account for largest revenue share of 36% by 2035 due to the rising demand for electricity and the corresponding need for infrastructure. From April20 to October20 the electricity demand in the Asia Pacific region exceeded that of the period in 2019 with a notable increase of 6% in October 2020.
Furthermore, China has ongoing projects that are expected to drive up their demand for DC circuit breakers. For instance, Qinghai New Energy Group Co Ltd announced in July 2021 that they have commenced construction on the Golmud Solar CSP Power Plant with a capacity of 3.3 GW, which is projected to be operational, by 2024. With such a large scale project underway China will likely require an increased number of DC circuit breakers to effectively manage their system with safety and efficiency as top priorities.
North American Market Insights
The North America DC circuit breaker market is estimated to be the second largest, registering a share of about 28% by the end of 2035 mainly due to the expansion of the region's infrastructure the increasing adoption of renewable energy sources and the growing need for reliable power supply.
Furthermore, governments in North America are taking steps to promote energy efficiency and reduce carbon emissions. As an example, the U.S. EPAs ENERGY STAR Program provides information and tools to over 15,000 private and public sector organizations enabling them to choose energy-efficient solutions and best practices. As a result of these initiatives, there is a rising demand, for DC circuit breaker solutions, which is expected to boost the regional market in the upcoming years.
