Market overview
The Molded Case Circuit Breakers Market / MCCB Market is expected to register USD 7.56 billion and a CAGR of 5.93% during the forecast period. Circuit breaks are a prominent component of the electrical circuit system. They provide safety to the electronic devices, overloads and others and provide necessary prevention for the consumers. These are the small circuit breakers mostly used to protect the electrical circuit from accidents.
Factors like constant modification in technology, electricity infrastructure and rising production and electricity consumption are propelling the market. The MCCB is majorly used in power generation, transmission, and distribution applications requiring heavy protection capacity. Many countries are improving the infrastructure to provide efficient, safe, reliable and technological advanced public service.
The continuous growth of the equipment industry, projects, aerospace equipment and automation vehicles provides suitable growth places for the market. Electricity demand is rising due to the continuous growth of the population in several countries. It is installed with various safety devices to prevent damage due to overload or any electrical faults. The demand for the consumer for safety in residential and commercial sectors are boosting the market and will continue in the forecast period. The circuit is used in need of precise operation because it is more expensive than the fuse. The major hindrance for the market is slow tripping features and vulnerability to heat.
Due to the COVID spread, most of the sectors were closed and suffered a huge decline, making it difficult for them to get to the same benchmark. As people stayed at home for more than one year, the market grew in the residential sector but got into loss in the commercial and industrial sectors.
Key Players:
- Siemens AG (Germany)
- Schneider Electric (France)
- General Electric (U.S.)
- Eaton Corporation Plc (Ireland)
- Rockwell Automation (U.S.)
- Mitsubishi Electric Corporation (Japan)
- Hitachi Industrial Equipment Systems (Japan)
- Legrand SA (France)
- Fuji Electric Co. Ltd. (Japan)
- Havells India Ltd. (India)
- Huayi Electric Co. Ltd (China)
- Toshiba Corporation (Japan)
- Noark Electric Inc. (U.S.)
- Chint Group (China)
Market segmentation
The Molded Case Circuit Breakers Market/ MCCB Market is segmented by end-user and current. Based on the current, the market is divided into up to 20A, 21A–75A, 76A–250A, 251A–800A, and above 800A. 76A-250A was in the lead in 2018 as the MCCBs are used in the infrastructure. The segment is expected to grow at the same rate, and the emerging economy is a growth factor for the market. The end-user segment is classified into transmission & distribution, manufacturing & process industry, residential & commercial, power generation, etc., transmission and distribution register the highest CAGR due to the infrastructure improvement.
Regional analysis
The Molded Case Circuit Breakers Market/ MCCB Market is analyzed in North America, Asia Pacific, Europe other parts of the world. In 2019 the Asia Pacific region witnessed the highest growth rate and was expected to grow in the forecast period. The factors that the region has the highest growth rate are rising demand for construction, and constant modernization of the electricity infrastructure are the major factors driving the market in the region.
People acquiring new lifestyles and high growth of economy leads to energy consumption, which is another factor for the market. China is the hub for power transmission and distribution, which positively impacts the market. Electrical safety, strict regulation, high investment in transmission and network makes the market register growth in the North American region.
Industry news
Schneider electrical; announced the launch of the new and digitalized powerpacTmolded case circuit breaker series at 2021 NECA Convention Nashville.
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