South Korea low voltage DC circuit breaker market is expected to grow at a CAGR of 6.7% during the forecast period. Increasing solar panel installations in South Korea is primarily contributing to the growth of the market in the country. As per the IRENA, South Korea’s solar energy capacity reached around 7.9 GW in 2018, from 3.6 GW in 2015. Some government projects for solar power are further creating scope for the expansion of solar power capacity in the country. For instance, in July 2019, the South Korean government declared 2.1 GW floating PV project. This is expected to increase the adoption of low voltage DC circuit breakers for use in solar PV modules to withstand direct fault currents under high voltages.

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In addition, rising internet secure servers in the country is offering a significant opportunity for the growth of the market in the country. As per the World Bank, the number of secure internet servers per 1 million people in 2017 was nearly 1,197, which reached to nearly 2,064 in 2018. As a result, the demand for low-voltage DC circuit breakers is expected to increase in the country, as low voltage power circuit breakers are used in modern data centers for the main switching and power transfer operations.

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South Korea Low Voltage DC Circuit Breaker Market Segmentation

By Type

Air Circuit Breakers (ACB)

Molded Case Circuit Breakers (MCCB)

Miniature Circuit Breakers (MCB)

By Application

Residential

Commercial

Industrial

Company Profiles

ABB Ltd.

Eaton Corp.

Entec Electric & Electronic Co., Ltd.

Hyosung Group

Hyundai Electric & Energy Systems Co., Ltd.

Larsen and Toubro Ltd.

Mitsubhishi Electric Corp.

Rockwell Automation, Inc.

Schneider Electric SE

Sensata Technologies, Inc.

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