Increasing Focus on Electrical Safety Propelling Growth of the Molded Case Circuit Breakers Market

Molded Case Circuit Breakers Market is estimated to witness a USD 7.56 Billion and CAGR of 5.93% during the forecast period 2022-2030.

Molded Case Circuit Breakers Market Trends:

The molded case circuit breakers (MCCBs) market is expected to experience growth in the coming years due to several factors. Here are some of the latest trends in the MCCBs market:

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  1. Increasing demand for renewable energy: With the increasing adoption of renewable energy sources such as wind and solar power, there is a need for MCCBs to protect the electrical systems from power surges and overloads. This is expected to drive the demand for MCCBs in the renewable energy sector.

  2. Growing industrialization: The increasing industrialization in emerging economies is driving the demand for MCCBs as they are widely used in industrial and manufacturing facilities to protect electrical systems from overloading and short circuits.

  3. Stringent safety regulations: Governments and regulatory bodies are imposing stringent safety regulations, which mandate the use of MCCBs in electrical systems. This is expected to drive the demand for MCCBs in various end-user industries.

  4. Increasing demand for smart MCCBs: Smart MCCBs are gaining popularity as they offer advanced features such as remote monitoring, real-time diagnostics, and predictive maintenance. This is expected to drive the demand for smart MCCBs in the coming years.

  5. Adoption of IoT and automation: The increasing adoption of the Internet of Things (IoT) and automation in various end-user industries is expected to drive the demand for MCCBs that can be remotely monitored and controlled.

Molded Case Circuit Breakers Market Overview:

Molded Case Circuit Breakers Market is estimated to witness a USD 7.56 Billion and  CAGR of 5.93% during the forecast period 2022-2030. High growth in the construction sector is expected to drive global Molded Case Circuit Breakers Market. We will provide COVID-19 impact analysis with the report, along with all the key developments since the coronavirus disease outbreak.

Top Boosters and Main Barriers

The COVID-19 outbreak has left a negative impact on all the industries worldwide, leading to lockdown, shutting down of manufacturing facilities and consequent cease in production. The pandemic has disrupted the entire ecosystem with many of the supply chain vendors shifting their facilities from China to other locations, in a bid to reduce their dependency on China. SARS-CoV-2 induced lockdown has not only affected the manufacturing sector but has also led to a drop in the consumer demand for various products.  

However, the COVID-19 impact on the market remains milder compared to other industries, given the escalating demand for electricity in light of the growing global economy, technological developments and surge in the urbanization rate. The growing need to boost the performance of the power system apparatus for better system asset management and enhanced quality of the electrical power, especially post the novel coronavirus, can be a notable growth inducer for the molded case circuit breakers market.

Following the SARS-CoV-2 outbreak, the key vendors have been highly focused on research and development/RD activities to develop high-end and sophisticated products to retain the number of end-users in the industry. This has led to an increased application scope of MCCBs, which can spur its demand further in the coming years. Product innovation and launches are some of the top strategies that the leading players employ to gain traction in the global market. For instance, in February 2020, NOARK Electric expanded its range of molded case circuit breakers, with the addition of 1 pole and 2 pole in M1 as well as M2. These advanced MCCBs boast of higher reliability as well as performance.

Market Segmentation

The molded case circuit breakers industry can be divided into rated current as well as end-user.

The rated current-based segments are up to 20A, 21A–75A, 76A–250A, 251A–800A, and above 800A. The 76A–250A section led the market in 2017, as these MCCBs find widespread demand in the infrastructure sector, particularly in commercial and residential.

The end-users in the worldwide market are manufacturing process industry, transmission distribution, power generation, residential commercial, and more. Transmission distribution is the dominant segment in the MCCB market and can also procure the fastest expansion rate during the review period. The surge in modernization of the existing infrastructure can be an important boosting factor in the market growth.

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Top Industry Players

The top industry players are Rockwell Automation, Inc. (U.S.), Chint Group (China), Noark Electric (USA) Inc. (U.S.), Toshiba Corporation (Japan), Hitachi Industrial Equipment Systems (Japan), Legrand SA (France), Fuji Electric Co., Ltd. (Japan), Havells India Ltd. (India), General Electric (U.S.), Mitsubishi Electric Corporation (Japan), Maxguard (Malaysia), Schneider Electric (France), Siemens AG (Germany), Eaton Corporation Plc. (Ireland), Huayi Electric Co., Ltd (China), to name a few. 

 


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