Rockville , April 26, 2023 (GLOBE NEWSWIRE) -- The global molded case circuit breaker (MCCB) market is forecasted to reach a valuation of US$ 17.1 billion by the end of 2033, according to the recently published research report by Fact.MR, a provider of market research and competitive intelligence. Global demand for molded case circuit breakers is predicted to increase at a CAGR of 5.3% from 2023 to 2033.
In recent years, there has been a noticeable increase in the demand for molded case circuit breakers for numerous applications. Infrastructure, manufacturing and process industries, power generation, transportation, transmission & distribution, and others are some popular application areas of molded case circuit breakers.
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Molded case circuit breakers are used to protect electrical circuits from different types of damage that are caused due to short circuits or overloads. MCCBs are generally installed in a switchboard, panelboard, or similar devices. They are crucial as they protect people as well as the environment from damage while automatically shutting off power if a problem occurs. Once the problem is resolved, these devices can be reset. Rising need to use more reliable electricity protection devices is set to stimulate the demand for MCCBs across regions.
Key Takeaways from Market Study
- The global molded case circuit breaker market is estimated at US$ 10.2 billion in 2023.
- Global demand for molded case circuit breakers is forecasted to increase at a CAGR of 5.3% from 2023 to 2033.
- The global market is predicted to reach a valuation of US$ 17.1 billion by the end of 2033.
- The Asia Pacific market is predicted to evolve at a CAGR of 5.9% from 2023 to 2033.
“Increasing inclination to use more reliable electricity protection devices along with the use of molded case circuit breakers as an economical practice to save heavy appliances from damage is estimated to contribute to market expansion,” says a Fact.MR analyst.
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Increasing Demand for Molded Case Circuit Breakers from Different Industries
Growing expansion of distribution and transmission networks, smart grid solutions, and increasing railway transportation are expected to bolster demand for molded case circuit breakers. Increasing concentration on spending on clean energy projects is also expected to generate growth opportunities. The development of renewable energy in recent years is also contributing to increased demand for MCCBs.
Rising expenditure on the development of novel renewable projects, increasing concentration on distributed power generation, and rising use of electricity are some other pivotal factors, which are contributing to global market revenue.
Asia Pacific Generating Lucrative Opportunities Due to Increased Demand for Electric Vehicles
Demand for molded case circuit breakers is expected to increase at a CAGR of 5.9% in the Asia Pacific region because of the rising demand for industrial machinery and electric vehicles in the region. Moreover, growing manufacturing industries across developing economies, including India and others, is predicted to drive market growth opportunities. Favorable government regulations that aim to promote investments in the energy and power sector are also projected to contribute to market growth in the region.
Winning Strategies
Key industry players are investing in product development to generate new growth opportunities.
For instance,
- ABB, in June 2019, announced the launch of its molded case circuit breaker to be utilized for plants with higher voltage solar power. This newly designed product can deliver a wide variety of protection solutions against utility-scale power plants.
Key Suppliers of Molded Case Circuit Breakers Include:-
- Chint Group
- Rockwell Automation Inc.
- Fuji Electric Co. Ltd.
- Eaton Corporation Plc.
- Siemens AG
- Schneider Electric
- Toshiba Corporation
- JSL Electric Corporation
- Powell Industries Inc.
- General Electric.
MCCB Industry Research Segmentation
- By Product Type :
- Miniature
- Molded Cases
- By Power Range :
- 0 to 75A
- 75 to 250A
- 250 to 800A
- Above 800A
- By End Use :
- Power Utilities
- Industrial
- Residential
- Commercial
- Others
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the molded case circuit breaker (MCCB) market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on product type (miniature, molded cases), power range (0 to 75A, 75 to 250A, 250 to 800A, above 800A), and end use (power utilities, industrial, residential, commercial, and others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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