May 23, 2023 07:33 ET | Source: MAXIMIZE MARKET RESEARCH PRIVATE LIMITED MAXIMIZE MARKET RESEARCH PRIVATE LIMITED
Pune, May 23, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, an international business & consultancy firm has recently published a research report on the “Molded Case Circuit Breakers Market”. The total global market size for the “Molded Case Circuit Breakers Market” was valued at USD 10.38 Bn in 2022 and is expected to grow at a CAGR of 6.58 percent over the forecast period to reach USD 16.51 Bn by 2029. Knife switch
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Molded Case Circuit Breakers Market Report Scope and Research Methodology
The report covers the global Molded Case Circuit Breakers Market dynamics such as market key drivers, opportunities, challenges and Restraining factors. The report gives an in-depth analysis of the market's ongoing mergers, acquisitions, strategic development, and partnerships, as well as the regional growth factors, financial, and strategic drivers behind them. The analysis of data was collected through primary and secondary research methods. PESTLE, Porter’s five forces and SWOT analysis were used for the industry analysis. The bottom-up approach was used to estimate the market size. Also, the report included a comprehensive competitive analysis of the leading players in the Molded Case Circuit Breakers Market, such as company profiles, recent developments, and insights about their products, business strategies and important MCCB market tactics.
Molded Case Circuit Breakers Market Overview
Molded Case Circuit Breakers (MCCB) is a protective device, which protects the switching system, transformer and other electrical devices from excess current overloads. MCCB rating list includes 16A, 20A, 25A, 32A, 40A, 50A, 63A, 80A, 100A and it is widely used in the manufacturing industry. Application of Molded Case Circuit Breakers is used to cool the hot metal or plastic parts and make them more stable during their processing.
Increasing Demand for Electricity across the World to Drive the Market Growth
The Molded Case Circuit Breakers Market growth is driven by the growing demand for electricity from various end-use industries such as the industrial, commercial and residential sectors is a primary key factor. The huge expansion of these industries across the world due to urbanization, technological development and infrastructure development. The Molded Case Circuit Breakers help to protect the electrical system when it short circuits, ground fault and is overloaded. The increasing need for such products in developing economies is expected to fuel market growth. The growth of new construction buildings and power plants requiring the installation of MCCBs for electrical systems to keep safe are some other driving factors for the market growth.
The surge in electricity consumption with the expansion of the power distribution network, and the adoption of Molded Case Circuit Breakers across various end-use application sectors are key influencing factors for the demand for MCCBs in the global market. The growing consciousness regarding safe and reliable electric systems is expected to boost the market size. However, the high expensive cost of these breakers is expected to hinder market growth. The reason behind that is it requires raw materials such as copper, plastic aluminum etc. The availability of such material sources is less or limited as well as the maintenance of MCCBs required skilled staff. Such are major restraining factors for the overall Molded Case Circuit Breakers Market growth.
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Asia Pacific Dominated the Global Market Share in 2022
The consumption of electricity in the Asia Pacific is high due to there being a huge population growth factor. The rapid urbanization, infrastructure and construction development activities and increasing need for reliable power distribution systems, and safety are primary driving factors for the market growth. The strict government regulations and safety standard rules are expected to boost the market growth during the forecast period in the region. In 2022, China held the largest Molded Case Circuit Breakers Market share in the Asia Pacific due to its growing economic and infrastructure development activities.
Molded Case Circuit Breakers Market Segmentation
Based on the type, the B-type segment is to dominate the market over the forecast period
The B-modelled case circuit breaker type segment growth is driven by the increasing use of these circuits in distribution boards. In 2022, B type segment held largest market share and is expected to grow at a significant CAGR during the forecast period. It has some residential properties, and trips between 3-5 X rated current and is mostly used for sub-circuit/ resistive load protection purposes such as lighting and heating elements. These key factors are expected to drive the segment growth in the global Molded Case Circuit Breakers Market.
Based on the Current Rating, the 0-75A to 75-250A MCCBs are used for heavy current circuits for heavy-duty industrial applications. The increasing number of chemical and electronic products manufacturers across the world is expected to drive the demand for Molded Case Circuit Breakers in the Molded Case Circuit Breakers Market. The rise in the use of 75A to 75-250A MCCBs in various end-use applications is driving segment growth.
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• B type • C type • D type • K type • Z type
By Current Rating: • 0-75A • 75-250A • 250-800A • Above 800A
By Application • Medical Equipment • Elevators • HAVC Units • Inductive load applications • Pumps • Motors • Welding machinery • Generators • Electric Feeders
By End-User • Residential • Commercial • Industrial
Molded Case Circuit Breakers Key Players include:
• Fuji Electric India • Eaton • ABB • C&S Electric • Maxge Electric Technology Co., Ltd • Tac Automation Pvt. Ltd. • Rockwell Automation • Chint Group • Schneider Electric • WEG • TERASAKI ELECTRIC CO., LTD. • Hitachi Industrial Equipment Systems • Maxguard • Mitsubishi Electric Corporation • Noark Electric • GEYA Electrical Equipment Supply • JJ Enterprises • Nader Circuit Breaker • L & T • Havells • Siemens
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Key questions answered in the Molded Case Circuit Breakers Market are:
Maximize Market Research is a leading research firm that has also published the following reports:
Low voltage Circuit Breakers Market: The total market size was valued at USD 3.61 Bn in 2022 and the total revenue is expected to grow at a CAGR of 4.23 percent from 2023 to 2029, reaching USD 4.83 Bn. The growth of infrastructure projects for safe electric supply is expected to drive market growth.
Flexible Printed Circuit Boards Market: The total market size was valued at USD 20 Bn in 2022 and the total revenue is expected to grow at a CAGR of 10.725 percent from 2023 to 2029, reaching USD 40.81 Bn. The increasing advancement in manufacturing technologies is expected to drive market growth.
Circuit breaker Market: The total market size was valued at USD 6.13 Bn in 2021 and the total revenue is expected to grow at a CAGR of 5.9 percent from 2022 to 2029, reaching USD 9.71 Bn. Increasing demand for high-voltage circuit breakers in residential areas is expected to drive market growth.
Ground Fault Circuit Interrupter (GFCI) Market: The total market size was valued at USD 2.21 Bn in 2021 and the total revenue is expected to grow at a CAGR of 7.01 percent from 2022 to 2029, reaching USD 3.81 Bn. The smart circuit breaker technology is expected to drive market growth.
Circuit Protection Market: The total market size was valued at USD 43.36 Bn in 2021 and the total revenue is expected to grow at a CAGR of 7.1 percent from 2022 to 2029, reaching USD 75.07 Bn. The development in the electronic industry and the increasing IoT market are expected to drive market growth.
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