MCB and MCCB Market Size was valued at USD 7.1 Billion in 2022. The MCB and MCCB market industry is projected to grow from USD 7.6 Billion in 2023 to USD 13.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.50% during the forecast period (2024 - 2032). The expanding need for diverse electrical transmission network upgrades, the growing demand for access to efficient networks and renewable energy sources, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The growing demand for various upgraded electrical transmission networks throughout the world effectively drives the market. population growth and the incredibly quick urbanisation process have also pushed up the cost of modern power usage as well as the demand for constant and uninterrupted electricity. Additionally, local governments from many different nations are spending more money to promote their proven and current power generation capabilities with the aim of meeting the electrical needs in diverse urban and rural areas of the world. The main focus of the MCB and MCCB markets is on undertaking the modern renovation of the various ageing grid infrastructure by putting in place various energy-efficient systems as well as smart and advanced smart grids to facilitate complicated or convoluted power flows with improved and increased reliability. Powerful circuit breakers are a certain type of important or major component of contemporary grid infrastructure, and this is also giving the market growth a boost or acting as a catalyst. Circuit breakers are increasingly being used in place of the newest fuses in various residential sectors, which is another factor driving the market. This might be heavily emphasising the improved efficiency provided by MCB and MCCB safety devices in the presence of extremely high voltage fluctuations.
The area is anticipated to increase as a result of factors including the rising demand for access to efficient networks and renewable energy sources. As power fluctuations and short circuits become increasingly dangerous, the electronics, automobile, and telecommunications industries all require more innovative equipment. Fuse and circuit breaker sales will thus continue to expand significantly over the course of the projection period. These gadgets protect against unforeseen power fluctuations brought on by problems like overvoltage, overloads, and short circuits, which can harm equipment like electrical tools, domestic appliances, IT items, and industrial gear. The gadget also maximises energy consumption by reducing and managing the equipment's electric demand. As a result, demand will rise as well as usage of these devices increases over the projection period.
The main drivers of industry expansion are the rise in electricity demand and reliable power supply. The need for electricity and power has greatly increased as a result of economic expansion and technical breakthroughs. Infrastructure with recent modifications and high capacity are needed to meet this enormous demand for power. Electronic devices are, nevertheless, sensitive to power fluctuations, which further contribute to device failures. Therefore, adding device protection components like circuit breakers and fuses is being encouraged by private organisations and governments all over the world. Power fluctuations can harm electrical equipment, including residential appliances, IT devices, industrial gear, and electric tools. To manage and minimise the electrical load on equipment and safeguard the circuit from unforeseen power fluctuations caused by short circuits, overvoltages, and overload, circuit breakers and fuses are used. Additionally, the market for circuit breakers and fuses is anticipated to grow due to the rising demand for renewable energy connectivity, upgrading of adroit networks, and improved equipment in communications, electronics, and automotive. Thus, driving the MCB and MCCB market revenue.
The MCB and MCCB Industry segmentation, based on Type, includes MCB and MCCB. MCB segment dominated the market in 2022. The increasing demand for access to reliable networks and renewable energy sources is to blame for this.
Figure 1: MCB and MCCB Market, by Type, 2024 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The MCB and MCCB market segmentation, based on Rated Current, includes Up to 20A, 21-75A, 76-250A, 251-800A, and Above 800A. 21-75A segment dominated the market in 2022. This is because mid range MCB and MCCB utilization has increased across a number of end use sectors.
The MCB and MCCB market segmentation, based on End Use, includes Power Generation, Transmission and Distribution, Residential and Commercial, Manufacturing and Process Industries, Transportation, and Others. Power generation segment dominated the MCB and MCCB market in 2022. Due to the need for efficient power generation as a result of an increase in electricity demand, the demand for protection devices will rise.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America MCB and MCCB Market dominated this market in 2022 (45.80%). This is linked to an increase in investment on long-distance distribution network construction and domestic distribution infrastructure renovation, together with a rise in the demand for energy. The U.S. government announced its plans to invest USD 315 billion in the creation of new electric networks in March 2023, with the goal of enhancing reliability in rural and isolated places. Further, the U.S. MCB and MCCB market held the largest market share, and the Canada MCB and MCCB market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: MCB And MCCB Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe MCB and MCCB market accounted for the healthy market share in 2022. In order to speed up the innovation and development of energy networks, the European government has launched a number of projects, such as the European energy Grid Initiative (EEGI), which is expected to increase volume demand in this region. Further, the German MCB and MCCB market held the largest market share, and the U.K MCB and MCCB market was the fastest growing market in the European region
The Asia Pacific MCB and MCCB market is expected to register significant growth from 2023 to 2032. Opportunities in this industry are being driven by the rising use of alternative energy generation technologies like wind and solar, which demand significant expenditures in distribution and transmission. Demand for circuit breakers and fuses is expected to rise in the Asia Pacific due to significant expansion in end-user categories such the oil and gas industry, petrochemicals industry, steel industry, and cement industry. Moreover, China’s MCB and MCCB market held the largest market share and the Indian MCB and MCCB market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the MCB and MCCB market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, MCB and MCCB industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the MCB and MCCB industry to benefit clients and increase the market sector. In recent years, the MCB and MCCB industry has offered some of the most significant advantages to medicine. Major players in the MCB and MCCB market, including Siemens, ABB, Mitsubishi Electric Corporation, Fuji Electric Co. Ltd, Hitachi Industrial Equipment Systems Co. Ltd, Rockwell Automation, Inc., Havells India Ltd, Schneider Electric, Legrand, Eaton, CHINT Group, and NOARK Electric, are attempting to increase market demand by investing in research and development Types.
A technology company is Siemens AG (Siemens). Its operations cut across the sectors of electrification, automation, and digitalization. The business develops, produces, and installs items as well as sophisticated systems and projects. Additionally, a vast array of specially designed solutions are offered for different needs. Siemens focuses on energy production and delivery, as well as intelligent building infrastructure and distributed energy systems. It offers medical technology, digital healthcare services, and smart mobility solutions for rail and road transportation. Worldwide, Siemens has a network of production facilities, warehouses, and sales offices. It provides services to clients in a variety of sectors, including energy, healthcare, infrastructure, process and manufacturing, among others. In Germany's Bavaria region, Munich serves as the home of Siemens. To meet the rising need for electrification goods, Siemens bought C&S Electric, a producer of electrical and power electronic equipment, in January 2020.
Power management business Eaton Corporation Plc (Eaton). It creates, develops, and markets energy-efficient goods, technology, and services that assist clients in more effectively managing mechanical, hydraulic, and electrical power. The business offers services to clients in the utility, government, industrial, information technology, residential, institutional, machine tools, marine, material handling, commercial, construction, agriculture, renewable energy, oil and gas, mining, forestry, automotive, moulding, primary metals, power generation, and aerospace sectors in a number of nations throughout North America, Europe, Latin America, Asia Pacific, Africa, and the Middle East. It has production plants all throughout the world. Dublin, Ireland, is the home of Eaton. Eaton Cummins Automated Transmission Technologies announced in September 2020 that the Endurant Automated Transmission lineup would be expanded with the introduction of the Endurant XD series.
Sep 2019: The greatest power grid expansion in Austria to date, ABB Ltd. inked a five-year framework agreement with Austrian Power Grid (APG), the country's transmission system operator, for the supply of gas-insulated switchgear (GIS), possibly worth more than USD100 million.
Oct 2019: A collaboration agreement between Alstom and the Madrid Asperger Association states that people with Asperger's Syndrome will participate in pre-occupational professional internships at Alstom facilities in Spain, enhancing their socio-occupational capacity and professional abilities.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 7.1 Billion |
| Market Size 2023 | USD 7.6 Billion |
| Market Size 2032 | USD 13.6 Billion |
| Compound Annual Growth Rate (CAGR) | 7.50% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Rated Current, End Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Siemens, ABB, Mitsubishi Electric Corporation, Fuji Electric Co. Ltd, Hitachi Industrial Equipment Systems Co. Ltd, Rockwell Automation, Inc., Havells India Ltd, Schneider Electric, Legrand, Eaton, CHINT Group, and NOARK Electric |
| Key Market Opportunities | Increasing dependence on MCB and MCCB |
| Key Market Dynamics | Rising demand for access to effective networks and renewable energy sources and the spreading requirement for various upgrading electrical transmission networks |
Frequently Asked Questions (FAQ) :
The MCB and MCCB market size was valued at USD 7.1 Billion in 2022.
The market is projected to grow at a CAGR of 7.50% during the forecast period, 2024-2032.
North America had the largest share in the market.
The key players in the market are Siemens, ABB, Mitsubishi Electric Corporation, Fuji Electric Co. Ltd, Hitachi Industrial Equipment Systems Co. Ltd, Rockwell Automation, Inc., Havells India Ltd, Schneider Electric, Legrand, Eaton, CHINT Group, and NOARK Electric
The MCB Type dominated the market in 2022.
The 21-75A Rated Current had the largest share in the market.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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