Global Molded Case Circuit Breakers Market Scenario:
The most crucial components of a whole electrical circuit system are circuit breakers because they can prevent the overload or short circuits from electronic devices and loads. Molded Case Circuit Breaker (MCCB) is defined as a miniature circuit breaker that is primarily used for protecting an electrical circuit from short circuits and connect or disconnect loads from the electrical source in a secure way. Market Research Future (MRFR) has published a research report about the global Molded Case Circuit Breakers Market that anticipates elevation for this market at 6.28% CAGR between 2018 and 2024.
The remarkable factor driving the global molded case circuit breakers market growth is continued reform in electricity infrastructure and rising electricity consumption. Other important market driving factors include growing demand for electrical equipment as well as protection devices and high growth in the construction sector. However, fluctuating working characteristics of the breaker depending on the ambient temperature can restrict the demand for molded case circuit breaker devices.
Market Segmentation
The global molded case circuit breakers market segmentation has segmented the market into end-user, rated current, and region. Based on end-user, this market is being segmented into chemicals, manufacturing & process industry, power generation, residential & commercial, transmission & distribution, and others. In the context of rated current, the market has been segmented into up to 20A, 21A
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Regional Insight
The regional segmentation of the global molded case circuit breakers market has segmented the market into the regional markets, namely North America, Europe, Asia Pacific, and rest of the world (RoW). The Asia Pacific region has been estimated to be the largest regional market during the forecast period due to the high growth in the construction sector, high population growth in countries like China and India, advancement in lifestyle of people, and rising demand for modernizing the existing electricity infrastructure that can serve the increasing demand for electricity. China is the largest country-specific market power transmission & distribution segment. Other critical country-specific markets in this region are Australia, Japan, and South Korea, followed by the remaining countries of the Asia Pacific region.
During the forecast period, North America is expected to be the second largest regional market due to stringent compliance requirements on electrical safety, high investment in transmission & distribution network, and subsequent wide scope for the usage of electrical components in this region. USA and Canada are the most important country-specific markets in this region.
Europe is an important regional market due to the increasing number of cross border interconnections that is leading to the growth of the transmission and distribution (T&D) equipment industry in this region. Second market driver in Europe is the interconnected grid that can transfer electricity between countries like France, Germany, Poland, Sweden, and the U.K. Third important market driving factor is the improvement of grid reliability. Other important market drivers in Europe are combining reserves as well as the reduction in the investments in power-generating capacity, demand to reduce dependence on conventional fossil fuels and the subsequent switch-over by many countries to renewable energy power generation. Another important country-specific market in this region is Spain, followed by the remaining countries of Europe.
The RoW segment primarily covers the countries of the Middle East & Africa (MEA). During the forecast period, the MEA regional market is expected to contribute significantly because many countries of the Middle East not only expanding their cross-border electricity trade but are also integrating wind and other renewable energies. They are also increasing the load flow on aging networks.
Key Players
The key players in the global molded case circuit breakers market include Chint Group (China), Eaton Corporation PLC (Ireland), Fuji Electric Co., Ltd. (Japan), General Electric (USA), Havells India Ltd. (India), Hitachi Industrial Equipment Systems (Japan), Huayi Electric Co. Ltd (China), Legrand SA (France), Maxguard (Malaysia), Mitsubishi Electric Corporation (Japan), Noark Electric (USA) Inc. (USA), Rockwell Automation, Inc. (USA), Schneider Electric (France), Siemens AG (Germany), and Toshiba Corporation (Japan).
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