Low-Voltage Circuit Breakers Market Research Report: by Type (Miniature Circuit Breaker (MCB), Molded-case Circuit Breaker (MCCB), Air Circuit Breaker (ACB)), by Application (Energy Allocation, Shut-off Circuit, Others), and Region - Forecast to 2030

Low-Voltage Circuit Breakers Market Overview

During the ongoing forecast period of 2022-2030, the Low-Voltage Circuit Breakers Market size is showing signs of improvement that will bear a good result by the end of the forecast period. During the period, the market is expected to attain a global CAGR of 4.54% amid the period and hence, reach a global market figure of USD 1.5 billion. In the historic forecast period that ended in 2019, the market reports showed that the market was valued at a final sum of USD 1.2 billion. The rising degree of up-gradation and modernization of aging infrastructure that has been put up for sale at various global locations is likely to promise the market good and scalable growth by the end of the forecast period in 2030.

Low-Voltage Circuit Breakers Market COVID 19 Analysis

Due to the huge cases reported of the spread of coronavirus, the markets and lives of the common man have been at a standstill. The coronavirus disease is a harsh reality that has created considerable havoc which still needs time to come to terms with. Since the pandemic has come into the picture, the governments are in a dilemma to concentrate both on the development of the healthcare infrastructure, keep the economy running, and further, limit the disease from spreading and taking the stage of community transmission. But, keeping the pros and cons in mind, the industry players are still functional with whatever less they have so that the market is working to some extent.

The global market players are raising their investment with new market trends that will dominate the market during the ongoing and upcoming forecast period. Also, the investment will give rise to launch products and compete in the international market.

Low-Voltage Circuit Breakers Market Dynamics

Drivers

The low-voltage circuit breakers market is witnessing the emergence of safe and secure electrical distribution systems followed by the expansion of transmission and distribution of networks that will drive the market towards global growth by the end of the period in 2028. Further, the market is witnessing an increased rate of industrialization and urbanization followed by an increased focus on renewable energy generation techniques will help the market promise great revenues and returns by the end of the period.

Restraints

However, one of the major factors that will restrain the market from growing is the association of high-cost regarding processes like installation and maintenance that might impact the growth of the market during the period.

Low-Voltage Circuit Breakers Market Technology Analysis

The availability of technology is giving rise to huge techniques like the solar and increased emphasis on the battery systems for microgrids promise positive attributes for the market during the forecast period. Also, the fact of elimination of peaks or surges in the grid as there lies a generation of capabilities from renewable sources will help the market grow at a great rate.

Study Objectives

• The market report deals in qualitative market analysis and discussion that will help make smart and result-oriented market decisions regarding investment and buying. The report helps in analyzing the global market aspects that will impact the market dynamics and give rise to possibilities like drivers, opportunities, restraints, and challenges.


• The report aims to cover the qualitative market aspects like the basis of the global market segmentation that will help in meeting the rising needs of the global audience and further, gain a larger market revenue and hence, increase the chances to meet the predicted global figures.


• The report aims to understand the rising market competition and hence, understand the role of the global market players to undergo reliable developments that will support the global market growth.

Low-Voltage Circuit Breakers Market Competitive Landscape

The most prominent major key players in the low-voltage circuit breakers market all across the globe are mentioned below:

• China People Electric Appliance Group Shanghai Co., Ltd. (China)


• Hager Group (Germany)


• Changshu switchgear Mfg Co., Ltd. (China)


• Hyundai Electric & Energy Co., Ltd. (South Korea)


• CHINT Group (China)


• HangShen Electric (China)


• DELIXI (China)


• Eaton Corporation (Ireland)


• Siemens AG (Germany)


• Mitsubishi Electric Corporation (Japan)


• ABB (Switzerland)

These major key players use various strategies to sustain their market position in the low-voltage circuit breakers market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a unique production process, and many others to expand their customer base in the untapped market of the low-voltage circuit breakers market all across the globe.

Recent Developments in Low-Voltage Circuit Breakers Market

• In February 2019, for converting diesel locomotives to electric ones, ABB Group has been awarded a long-term contract by Indian Railways for supplying traction control equipment. These units will be manufactured in an Indian-based plant named Nelamangala located in Bengaluru, India.


• In April 2019, various construction, procurement, and several engineering orders in different business lines have been bagged by L & T Construction famous for its power transmission and distribution business. These orders have come from ASEAN and Middle East region.


• The most prominent major key players are highly investing in mergers and acquisitions, joint ventures, and new products.


• Siemens AG is spending a considerable sum of money on research and development to get an upper edge over its competitors. This will help the company on enhancing its sales revenue.

Low-Voltage Circuit Breakers Market Segmentation

The low-voltage circuit breakers market has been divided all across the globe based on the type, application, end-user, and region.

Based on the Type

The market has been divided all across the globe based on the type into air circuit breaker (ACB), molded-case circuit breaker (MCCB), miniature circuit breaker (MCB), single pole MCB, double pole MCB, triple pole MCB, oil circuit breaker (OCB), and others.

Based on the Application

The market has been divided all across the globe based on the application into shut-off circuits, energy allocation, and others.

Based on the End-Users

The market has been divided all across the globe based on the end-users into railways, power generation, renewable, transmission, and distribution.

Based on the Region

The market has been divided worldwide based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.

Low-Voltage Circuit Breakers Market Regional Analysis

The low-voltage circuit breakers market has been divided all across the globe based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. Being the fastest-emerging region, the largest market share in the global market is held by the Asia-Pacific region owing to the presence of countries like South Korea, Japan, China, and India which are regarded as hubs of low-voltage DC circuits breakers and hence drives the market demand in this region. Moreover, increasing urbanization is another factor that creates more market demand.

The second-largest market share in the global market is held by the North American region owing to the presence of countries like the US, Canada, and Mexico that drive the market demand in this region. Increasing investment in various construction and infrastructural development programs creates more market demand. The presence of various major key players also drives the market demand in this region.

The third-largest market share in the global market is held by the European region owing to the presence of a well-established technologically advanced infrastructure that requires more power generation and hence creates more growth opportunities in this region. Moreover, increasing investment coupled with increased expenditure in various power generation projects drives the market demand in this region.

The Latin American region and the Middle East and African region show the least market share due to the presence of low infrastructure in both these regions. Low per capita income is another contributing factor that restricts the market growth in these regions.

Report Overview

This global low-voltage circuit breakers market research report consists of the following components mentioned below:

• Market Overview


• COVID 19 Analysis


• Market Dynamics


• Technical Analysis


• Market Segmentation


• Regional Analysis


• Competitive Landscape


• Recent Developments

This market research report contains factors that drive the growth of the low-voltage circuit breakers global market and the factors that restrict its growth in the global market. The technical analysis in the global market during the forecasted period is mentioned. The impact of the COVID 19 on the global market is mentioned. The future growth rate in the low-voltage circuit breakers market during the review period is estimated and mentioned.

Intended Audience

Companies in the energy & power sector, distribution utilities, government and research organizations, low voltage circuit breaker suppliers, dealers, and manufacturers, state and national regulatory authorities, power and energy associations, and others.