ID: MRFR/E&P/4446-HCR | 100 Pages | Published By Priya Nagrale on April 2023
Molded Case Circuit Breakers Market is estimated to witness a USD 7.56 Billion and CAGR of 5.93% during the forecast period
2021 - 2027
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.
Molded case circuit breakers play a crucial role in electricity transmission and distribution and protect expensive equipment in industries and commercial sectors. The central role of molded case circuit breakers is to automatically shut off power when a circuit is threatened with becoming overloaded. Factors such as an increase in power consumption, a rise in industrial activities, and a rising focus on distributed power generation are expected to drive the market in the forecast period. A rise in the stability of electricity supply, thereby reducing the need for circuit breakers, is likely to restrain the growth of the molded case circuit breaker market in the coming years.
The majority of the energy consumption in the industrial sector comes from energy-intensive manufacturing industries that play an essential role in the manufacturing of basic chemicals, iron, steel, food, non-ferrous metals, non-metallic minerals, refining, and paper. Energy-intensive industries are expected to occupy half of the industrial sector energy consumption share during the forecast period. Globally, the focus has increased on investments in clean energy projects and renewable energy development. As a result, the extensive development of new renewable projects, rising electricity usage, and increasing focus on distributed power generation are likely to create an excellent opportunity for the molded case circuit breaker market.
The prominent players in the molded case circuit breakers market include Siemens AG (Germany), Schneider Electric (France), General Electric (U.S.), Eaton Corporation Plc. (Ireland), Rockwell Automation (U.S.), Mitsubishi Electric Corporation (Japan), Hitachi Industrial Equipment Systems (Japan), Legrand SA (France), Fuji Electric Co., Ltd. (Japan), Havells India Ltd. (India), Huayi Electric Co., Ltd (China), Toshiba Corporation (Japan), Noark Electric (USA) Inc. (U.S.), Chint Group (China), and Maxguard (Malaysia).
For the purpose of this study, the global molded case circuit breakers market has been divided into two segments, namely rated current and end-user. On the basis of rated current, the market has been segmented into up to 20A, 21A–75A, 76A–250A, 251A–800A, and above 800A. In 2018, 76A–250A dominated the rated current segment of the MCCB market. These MCCBs are being mostly used in infrastructure sector, especially residential and commercial. The growing infrastructure sector in emerging economies is expected to drive the market for 76A–250A sub-segment.
On the basis of end-user, the global molded case circuit breakers market has been divided into transmission & distribution, manufacturing & process industry, residential & commercial, power generation, and others. Transmission & distribution dominates the end-user segment of the MCCB market and is expected to grow at the fastest rate during the forecast period. Increasing modernization of aging infrastructure is a major factor driving the growth of the market.
Geographically, the global Molded Case Circuit Breakers Market has been segmented into four major regions, such as North America, Europe, Asia Pacific, and Rest of the World. The Asia Pacific region has accounted for the biggest market share in 2019 and is projected to grow at the highest CAGR throughout the forecast period. High growth in the construction sector is the major factor driving the growth of the market. The rising demand for modernizing the existing electricity infrastructure to serve the increasing demand for electricity is driving the growth of the market during the forecast period. High growth in population and advancement in lifestyle of people is leading to an increase in the consumption of energy. Asia Pacific has emerged as the largest consumer of electricity across the world. This has a positive effect on the growth of the market. China, Japan, South Korea, and India are the important regions in Asia Pacific. China has the world’s largest market for power transmission & distribution. According to IEA, World Energy Investment Outlook, China is spending around USD 83 billion on their transmission & distribution network.
North America is expected to be the second-largest region for Molded Case Circuit Breakers Market. Stringent compliance requirements on electrical safety is the factor driving the growth of the market in this region. Additionally, high investment in transmission & distribution network provides a wide scope for the usage of electrical components in this region. The U.S. is an important market in the global as well as North American region.
Europe is another major region for the Molded Case Circuit Breakers Market. The increasing number of cross border interconnections will drive the growth of the Transmission and Distribution (T&D) equipment industry in Europe. Europe is developing an interconnected grid that can transfer electricity between countries, such as the U.K, Poland, Germany, France, and Sweden. Improvement of grid reliability and combining reserves and reduction in the investments in power-generating capacity are some of the advantages of such interconnected systems. Moreover, high investment in the renewable energy sector is fuelling the global market growth. To decrease the dependence on conventional fossil fuels, several countries are focusing towards renewable energy power generation.
The report for Global Molded Case Circuit Breakers Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Rated Current and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Siemens AG (Germany), Schneider Electric (France), General Electric (U.S.), Eaton Corporation Plc. (Ireland), Rockwell Automation, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Hitachi Industrial Equipment Systems (Japan), Legrand SA (France), Fuji Electric Co., Ltd. (Japan), Havells India Ltd. (India), Huayi Electric Co., Ltd (China), Toshiba Corporation (Japan), Noark Electric (USA) Inc. (U.S.), Chint Group (China), and Maxguard (Malaysia).|
|Key Market Opportunities||Global demand for electricity is increasing at an alarming rate|
|Key Market Drivers||
A CAGR of 5.93% is estimated to shape the market.
Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc. (U.S.), Legrand SA (France), and Hitachi Industrial Equipment Systems (Japan) are the contenders in the market.
A steadily rising income is expected to be seen in the market.
The regional front runner in the market is the APAC region.
The collective demand for updating the prevailing electricity infrastructure is estimated to benefit the global market.