Low-Voltage Circuit Breakers Market Research Report - Forecast to 2030

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

ID: MRFR/E&P/5462-CR | December 2018 | Region: Global | 117 pages

Low-Voltage Circuit Breakers Market

Low-Voltage Circuit Breakers Market share is expected to attain a CAGR of 4.54%, with a global market figure of USD 1.5 billion during forecast period.

Segmentation

By Type Miniature Circuit Breaker (MCB) Molded-case Circuit Breaker (MCCB) Air Circuit Breaker (ACB)
By Application Energy Allocation Shut-off Circuit Others

Key Players

  • ABB (Switzerland)
  • Schneider Electric (France)
  • Mitsubishi Electric Corporation (Japan)
  • Siemens AG (Germany)
  • Eaton Corporation (Ireland)
  • Shanghai Liangxin Electrical Co. Ltd. (China)
  • DELIXI (China)
  • HangShen Electric (China)
  • CHINT Group (China)
  • Hyundai Electric & Energy Systems Co. Ltd. (South Korea)
  • Fuji Electric FA Components & Systems Co. Ltd. (Japan)
  • Changshu Switchgear Mfg Co. Ltd. (China)
  • Hager Group (Germany)
  • China People Electric Appliance Group Shanghai Co Ltd (China)

Drivers

  • Electrification of rural areas
  • Rise of infrastructural projects
  • Growing residential and small scale commercial construction
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Low-Voltage Circuit Breakers Market Overview


During the ongoing forecast period of 2021-2028, 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 2028.


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.


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.


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.


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 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.


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.


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.



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2028: USD 1.5 Billion
  • 2030: Significant Value
  •   CAGR   4.54% CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type and Application
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   ABB (Switzerland), Schneider Electric (France), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Eaton Corporation (Ireland), Shanghai Liangxin Electrical Co., Ltd. (China), DELIXI (China), HangShen Electric (China), CHINT Group (China), Hyundai Electric & Energy Systems Co., Ltd. (South Korea), Fuji Electric FA Components & Systems Co., Ltd. (Japan), Changshu Switchgear Mfg Co., Ltd. (China), Hager Group (Germany), and China People Electric Appliance Group Shanghai Co Ltd (China).
      Key Market Opportunities   Electrification of rural areas
      Key Market Drivers

  • Rise of infrastructural projects
  • Growing residential and small scale commercial construction


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    Frequently Asked Questions (FAQ) :

    The predicted of the market is to touch a valuation of USD 1,657.2 million inthe estimate period.

    At 4.54% CAGR, the market will be gaining its growth

    The rise of infrastructural projects is to drive the market demand exponentially in the forecast period.

    Schneider Electric (France), ABB (Switzerland), Siemens AG (Germany), Eaton Corporation (Ireland), Mitsubishi Electric Corporation (Japan) are the key players of the market.

    The segments are type and application.

    Global Low-Voltage Circuit Breakers Market: Competitive Landscape


    ABB (Switzerland), Mitsubishi Electric Corporation (Japan), Schneider Electric (France), Siemens AG (Germany), and Eaton (Ireland) are the major five players operating in the global low-voltage circuit breakers market. ABB held the largest share among top five players with a share of 16.5% in 2017, followed by Mitsubishi Electric Corporation and Schneider Electric with respective shares of 9.2%  and 5.4% repectively. These companies are adopting strategies such as contracts and expansion to improve their position in the market. Companies are competing based on cost, product quality, and reliability and its vital for them to offer cost-effective and superior technology to succeed in the competitive market.


    ABB is the leading company in the low-voltage circuit breakers market, offers control room solutions, communication networks, drives, high-voltage products, low-voltage products and systems, measurement and analytics, mechanical power transmission, and medium-voltage products across the globe. The company focuses on expanding its high value-add solutions to regions like Asia-Pacific, Middle East & Africa, Europe, and America. As US and Middle East countries have witnessed increasing investments in the residential and commercial sector, in the recent years, these countries are actively involved in the development of high renewable energy generation projects.


    Schneider Electric is primarily engaged in a wide range of products to customers in a variety of industries and customer segments. It focuses on continuous innovation; Schneider Electric has the capability to bring new technology high-quality products and solutions through research and development. Moreover, the company has involved in the digital transformation of energy management and automation in homes, buildings, data centres, infrastructure, and industries. Company primarily focusing on acquiring more contracts/customers from the emerging regions, such as the Middle East and Asia-Pacific.


    Mitsubishi Electric Corporation is one of the global leaders that manufactures, distributes, and sells electrical and electronic equipment. It provides solutions for industrial automation and home automation. The company focuses on six business segments such as industrial automation systems, energy and electric systems, home appliances, information and communication systems, and electronic devices. Moreover, the rise in the number of contracts and partnerships with the governments and major players, indicates the company is focusing on obtaining a higher number of clients for its business growth.


    Siemens AG Industries operates in the fields of electrification, automation, and digitalization across the world. The company mainly focuses on products which are used in energy and power industries. As most of the Asian countries are investing more on power distribution and renewable energy segments, the company is looking for an opportunity for new contracts to cater the developing countries such as China, Japan, and India particularly.


    Eaton is global power management company which provides energy-efficient solutions to customers to manage electrical, hydraulic, and mechanical power in an efficient, safe, and sustainable manner. Eaton focuses on increasing profitability by diversifying its business and developing innovative products and solutions to increase its market share. The company focuses on rapid advancements in research and development sector, it is looking for new opportunities in the Middle East. With the new development and support contracts for low-voltage circuit breakers, the company would increase its market share and the overall revenue.


    The growth of the market vendors is dependent on market conditions, government support, and industry development. Players focus on strengthening their presence worldwide through partnership & collaboration followed by mergers & acquisitions during the forecast period. These strategies are widely adopted to increase their presence and the customer base. The competitive environment in the market is likely to intensify further due to the increase in new product developments and business expansions.