The
global MCB and MCCB market is projected to grow at a high rate during the
forecast period, mainly due to the growing need for efficient protection
devices in electrical circuit and constant rise in electricity demand and
consumption. According to Bloomberg NEF, global electricity demand would reach
around 38,700 terawatt hours by 2050 from 25,000 terawatt hours in 2017,
driving new investment in power sector which would increase the need for
electrical devices such as MCB and MCCB.
MCB
is an electromechanical device which automatically switch off the circuit when
there is a short circuit or any other abnormal condition. MCCB is a protecting
device which is mainly used in places where adjustable tripping is required.
Increasing industrialization and modernization of ageing infrastructure in
developed economies would major driver for the growth of the global MCB and
MCCB market. Additionally, governments around the globe are taking initiatives
to develop smart cities around the globe for conserving energy which would
further drive the market for MCB and MCCB
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Industry
Segmentation
Global
MCB and MCCB market has been segmented based on type, rated current, end-user,
and region. Based on type, the market is classified into miniature circuit
breaker and molded case circuit breaker. Molded case circuit breaker is leading
the market and has the largest market share, mainly due to its wide application
in industrial sector and it can withstand high rated current ranging more than
1000A. The global MCB and MCCB market is
further segmented based on end-user, including T&D, manufacturing &
process, power generation, infrastructure, and transportation, among others.
T&D segment is expected to grow at the fastest rate as it is primarily
driven by modernization of ageing infrastructure in countries such as US,
Canada, and UK, among others. and growing construction activities in countries
such as India and China.
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Regional Analysis
Region
wise, Asia Pacific held the largest market share of the global MCB and MCCB
market in 2017. It is estimated that Asia-Pacific region would be the fastest
growing market during the forecast period, mainly due to high energy demand and
investment in smart cities for energy conservation. The MCB and MCCB market
would mainly be driven by increase in the number of construction activities in
countries such as India and China.
Key Players
The
key players of the global MCB and MCCB market are ABB (Switzerland), General
Electric (US), Rockwell (US), Siemens (Germany), WEG (Brazil), Schneider
Electric (France), Legrand (France), Fuji Electric (Japan), Eaton (Ireland),
Huayi Electric (China), Hitachi (Japan), Havells
(India), and Chint Group
(China), among others.
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