Global
Molded Case Circuit Breakers Market Overview
Circuit
breakers are the most vital components of the whole electrical circuit system.
These are important for the prevention of electronic devices and loads from
short circuits or overload. Molded case circuit breaker (MCCB) refers to a
miniature circuit breaker that is primarily used for the protection of an
electrical circuit from short circuits and securely connect and disconnect
loads from the electrical source. MCCB generally works on the basis of two
elements, namely, thermal element for overcurrent and magnetic element for
short circuit release. Global molded case circuit breaker market to expand at
6.28% CAGR by 2023
Owing
to the rising demand for electricity across the globe is noted to happen on a
fast pace. As per the International Energy Agency (IEA), the energy consumption
across the globe is expected to hit 30,000 terawatt hours by 2030. This is
bound to produce various opportunities for the associated markets, like
electrical equipment and protection devices. In consequence, owing to the continuous
rise in the electricity production and consumption, demand for MCCBs is
expected to rise in the forthcoming years. However, factors such as fluctuation
in working characteristics of the breakers depending upon the ambient
temperatures is expected to hamper the market growth to a great extent.
Molded
Case Circuit Breakers Market Segmentation
The
global MCCB market has been analyzed for various segments that are based on
different aspects to understand the intricacies of the market landscape.
Further, it is also expected to reveal the hidden trends in the functioning of
the global molded case circuit breakers market. Such segmentation of the global
MCCB market is done by rated content, end-user, and region.
Based
on rated current, the global molded case circuit breaker market is segmented
into upto 20A, 21A to 75A, 76A to 250A, 251A to 800A, and above 800A. based on
end-users, the global molded case circuit breaker market is segmented into
transmission and distribution, residential and commercial, manufacturing and
process industry, and power generation.
Regional
Analysis
The
molded case circuit breakers market has been segmented into the regions of
North America, Asia Pacific, Europe, the Middle East & Africa, and Latin
America. Asia Pacific was accounting for the largest share of the global Molded
Case Circuit Breakers Market Share at the beginning of the forecast
period. The regional segment is also estimated to witness fastest growth rate
through the forecast period. A high rate of growth in the construction sector
is one of the biggest market drivers in the region. Rising demand for the
modernization of existing electricity infrastructure for serving the ever
growing demand for electricity is fostering market growth. Moreover, fast
proliferation of population and advancements in the lifestyle of the consumers
residing in the region is also contributing to the rise in the consumption of
energy. Asia Pacific is anticipated to develop as the largest consumer of MCCB
all over the world, in the forthcoming years.
North
America is estimated to boast the second position in the global molded case
circuit breaker market during the assessment period. This can be owed to the
stringent compliance requirements on electrical safety. In addition, high
investments in the transmission and distribution network is bound to provide a
wide scope for the application of electrical components in the region.
Key
Players
The
MRFR analysis includes some prominent players in the global molded case circuit
breakers market including Siemens AG (Germany), General Electric (U.S.), Schneider
Electric (France), Eaton Corporation Plc. (Ireland), Mitsubishi Electric
Corporation (Japan), Rockwell Automation, Inc. (U.S.), Hitachi Industrial
Equipment Systems (Japan), Fuji Electric Co., Ltd. (Japan), Legrand SA (France),
Havells India Ltd. (India), Toshiba Corporation (Japan), Chint Group (China),
Huayi Electric Co., Ltd (China), Noark Electric (USA) Inc. (U.S.), and Maxguard
(Malaysia).
