MCB
and MCCB 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 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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