Market Size of Asia-Pacific DC Distribution Networks Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 10.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC DC Distribution Networks Market Analysis
The market for DC distribution networks in Asia-Pacific is expected to grow at a CAGR of more than 10.3% during the forecast period.
The Asia-Pacific DC distribution network market was negatively affected by COVID-19 due to disruptions in the supply chain and regional lockdowns. However, the market rebounded in 2021.
- Over the long term, using direct current (DC) distribution networks in several low-to-high voltage applications is one of the catalysts driving the transformation of the electricity distribution market.
- On the other hand, high initial cost and a lot of complexity compared to conventional AC distribution networks are expected to hinder the market's growth.
- However, the DC distribution network is considered an essential factor in the future aspects of smart grids. Solar power is estimated to supply one-third of the world's energy demand by 2060, thereby increasing DC distribution in the future, as solar energy generates direct current is expected to create an ample opportunity for the DC distribution sector.
- China is expected to dominate the market studied, mainly driven by increasing electricity demand due to a growing population and industrial sector.
