Miniature
circuit breakers (MCB) and molded case circuit breakers (MCCB) are
electromagnetic devices which switch off electric devices in case of power
outages. MCBs are used in low voltage electrical networks and available in
different versions, namely single, double, triple, and four pole structures
with various current levels. MCCBs are used in industrial or commercial
applications which can be tripped using a remote control to prevent short circuits.
The global MCB and MCCB market report by Market Research Future (MRFR) covers
an analysis of the latest trends, factors, and drivers affecting the market.
Market Outlook
The
global MCB and MCCB market is projected to touch a size of USD 11,513.9 million
by 2023. It can experience 7.28% CAGR from 2018 to 2023 (forecast period) due
to protective measures required in electrical grids for preventing short
circuits. Investments in Asia Pacific, moves for electrification in rural
regions, and transition towards decentralized distribution and transmission of
power are factors which can drive market growth.
In
addition, influx of wherewithal in the renewable energy sector, development of
new power generation projects, replacement of legacy infrastructure, and
constant demand of electricity are other factors which can command the demand
of MCBs and MCCBs. Moreover, demand for such electrical devices in renewable
energy plants in China, India, and Southeast Asian countries can augur well for
the global MCB and MCCB market.
But
weakness towards slow tripping and heat can restrain market growth.
Segmentation Analysis
The
MCB
and MCCB Market Analysis is segmented by type, rated current, and
end-use.
By
type, it is segmented into MCB and MCCB. The latter is expected to be the
best-performing segment due to its capacity to prevent circuit shortage of
equipment with power rating of 1000A. They have self-adjustable settings for
protecting electrical equipment against faults, short circuits, and thermal
overloads.
By
rated current, it is segmented into up to 20A, 21-75A, 76-250A, 251-800A, and
above 800A. The 76-250A segment is expected to dominate in the market due to
its application in transmission & distribution, automotive, manufacturing
aid process, and residential and commercial buildings.
By
end-use, it is segmented into transportation, manufacturing, residential &
commercial, and power generation. The residential & commercial segment is
predicted to be the best performing end-use due to easy handling of circuit
breakers in these applications.
Region Analysis
Europe,
Asia Pacific (APAC), the Middle East & Africa (MEA), North America and
South America are major regions in the global MCB and MCCB market.
The
APAC region accounted for 34.06% share in 2017, with the valuation of China
pegged at USD 820.6 million in the same year. The growth can be attributed to
heavy investments in the renewable energy sector coupled with construction of
transmission & distribution plants. Formulation of policies and subsidy
schemes to achieve renewable energy targets can bode well for the market. This is
exemplified by the construction of solar power projects of China and India
capable of generating close to 130 GW and 175 GW respectively.
Europe
is expected to be the second-largest region due to renewable energy targets
agreed by various countries part of the European Union (EU). Supportive
policies for retrofitting or replacement of legacy electric infrastructure are
expected to drive the regional market growth substantially.
Competitive Landscape
Siemens
(Germany), CHINT Group (China), Legrand (France), Fuji Electric Co. Ltd
(Japan), ABB (Switzerland), Hitachi Industrial Equipment Systems Co. Ltd
(Japan), Rockwell Automation, Inc. (US), Mitsubishi Electric Corporation
(Japan), NOARK Electric (US), Schneider Electric (France), Eaton (Ireland),
Havells India Ltd (India), and others are main players in the MCB and MCCB
market.
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