The Asia Pacific DC distribution network market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 10.3% during 2023–2031. Growth of the market is attributed to increasing distribution efficiency, rising demand for DC dependent infrastructure, and minor requirement of space to operate.
Direct current is unidirectional and one-directional stream of electric current. A phytochemical cell is a best example of direct current. Direct current can stream over a conductor like an insulator, wire, semiconductors, and also from a vacuum as in ion beams and electron.
DC electric power delivery systems have better current carrying capacity, faster response, and major efficiency compared to conventional AC systems. The direct current electric power providing infrastructure provides a more natural network with several classes of renewable energy sources.
The Covid-19 pandemic affected the demand and supply of Asia Pacific DC distribution network market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
DC Distribution Network Market Trends, Drivers, Restraints, and Opportunities
Increasing consumer purchasing capacity and frequently growing population are projected to boost the market.
Rapid growth in DC distribution network and rapidly growing production capacity is the major factor fueling the market.
High cost of DC distribution network is projected to restrict the market expansion during the forecast period.
Lack of professionals in DC distribution network sector is anticipated to hamper the market growth in the coming years.
R&D investment and technological advancement in DC distribution network market is projected to offer lucrative opportunities for the market players.
Scope of DC Distribution Network Report
The report on the Asia Pacific DC distribution network market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
DC Distribution Network Market– Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
Products [Low Voltage, Medium Voltage, and High Voltage], End-user Applications [Electric Vehicle Fast Charging Systems, Remote Cell Towers, Commercial Buildings, Data Centers, Military Applications, and Other End-user Applications]
Asia Pacific [India, Australia, Japan, China, and Rest of Asia Pacific]
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players covered in the Report
Nextek Power Systems, Inc., Eaton Corporation PLC, Siemens AG, Vertiv Group Crop, ABB Ltd, Secheron Sa, Pareto Energy, and Johnson Controls, Inc.
DC Distribution Network Market Segment Insights
The electric vehicle fast charging segment is expected to grow at a rapid pace
Based on end-user applications, the Asia Pacific DC distribution network market is divided into electric vehicle fast charging systems, remote cell towers, commercial buildings, data centers, military applications, and other end-user applications. The electric vehicle fast charging segment accounts for a key share of the market.
Growth of the market is attributed to the increasing energy consumption, rapid industrialization, and growing environmental consciousness. The residential segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing population, rapid development in commercial sector, and increasing adoption of battery energy storage system.
The medium voltage segment is projected to hold a major market share
On the basis of products, the Asia Pacific DC distribution network market is segmented into low voltage, medium voltage, and high voltage. High voltage electricity stated as electrical potential major enough to cause damage and injury. In several sectors, high voltage stated as voltage above a certain limit.
Conductors and equipment that transport high voltage warrant needs special procedures and safety requirements. Major factories and industrial complexes that require a significant amount of energy frequently use medium supply voltages.
The market in China is estimated to hold a key market share
On the basis of regions, the Asia Pacific DC distribution network market is categorized as India, Australia, Japan, China, and Rest of Asia Pacific.
The market of Japan is anticipated to expand at a high CAGR during the forecast period due to rapid economic growth in region, encouragement from government organizations, and rise in electric vehicle infrastructure. The market of China is estimated to hold a key market share due to increasing power demand in region, rising demand for charging infrastructure, and subsequent increase in microgrids.
The Asia Pacific DC distribution network market has been segmented on the basis of
- Low Voltage
- Medium Voltage
- High Voltage
- EV Fast Charging Systems
- Remote Cell Towers
- Commercial Buildings
- Data Centers
- Military Applications
- Other End-user Applications
Key players competing in the Asia Pacific DC distribution network market include Nextek Power Systems, Inc., Eaton Corporation PLC, Siemens AG, Vertiv Group Crop, ABB Ltd, Secheron Sa, Pareto Energy, and Johnson Controls, Inc.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and rise their production line of the business in the coming years.