Molded Case Circuit Breakers Market Estimate 2021, Growth Rate Forecast to 2025 and End-User/Application
Molded Case Circuit Breaker (MCCB) is an essential component in an electrical circuit as it prevents electricity overloading, damage to electrical wiring and devices, and electrical fire outbreak. MCCB commonly works based on two elements, namely thermal element for overcurrent and a magnetic element for short circuit release. The MCCB market is primarily driven by the rising electricity consumption and continued reform in electricity infrastructure.
Global demand for electricity is increasing at an alarming rate. According to the International Energy Agency (IEA), worldwide electricity consumption is expected to hit 30,000 terawatt hours (TWh) by 2030. This would produce considerable opportunities for the associated markets, such as electrical equipment and protection devices. Consequently, with the continuous rise in electricity production and consumption, the demand for MCCBs would continue to rise in the following years. Additionally, high growth in the construction sector across the globe is fuelling the growth of the market. However, factors such as fluctuating working characteristics of the breaker depending on the ambient temperature may restrict the demand for molded case circuit breaker devices.
Geographically, the Asia Pacific region is the dominating as well as the fastest growing region for the MCCB market. The Middle East & Africa region is expected to contribute significantly in the global market during the forecast period. The Middle East countries are expanding their cross-border electricity trade and integrating wind and other renewable energies, increasing the load flow on aging networks. For instance, GE signed a contract with the government of Egypt to deliver 2,683 GW of electricity. Additionally, higher focus on efficient and reliable power transmission, along with the installation of new energy infrastructure in emerging economies, is expected to boost the Middle East MCCB market.
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Source: MRFR Analysis
Market Research Analysis
For the purpose of this study, the global MCCB market has been divided into two segments, namely rated current and end-user. On the basis of end-user, the market has been segmented into transmission & distribution, manufacturing & process industry, residential & commercial, power generation, and others. In 2017, transmission & distribution industry dominates the end-user segment of the market mainly due to the renovation of aging infrastructure in countries such as the U.S. and the U.K. Furthermore, increasing construction activities in emerging regions as well as increasing number of smart cities projects across the globe is expected to boost the growth of the global molded case circuit breakers market during the forecast period.
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 2016, 76A–250A dominated the rated current segment of the MCCB market.
Scope of the Report
This study provides an overview of the global molded case circuit breakers (MCCB) market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC), and Rest of the World (ROW). The report also provides a forecast, focusing on the...
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