The global MCB and MCCB market is projected to touch a size of USD 11,513.9 million by 2023. It can experience 7.28% CAGR from 2018 to 2023 (forecast period) due to protective measures required in electrical grids for preventing short circuits.
MCB and MCCB Market Scenario
The global MCB and MCCB market report by Market Research Future covers an analysis of the latest trends, factors, and drivers affecting the market.
Miniature circuit breakers (MCB) and molded case circuit breakers (MCCB) are electromagnetic devices which switch off electric devices in case of power outages. MCBs are used in low voltage electrical networks and available in different versions, namely single, double, triple, and four pole structures with various current levels. MCCBs are used in industrial or commercial applications which can be tripped using a remote control to prevent short circuits.
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Investments in Asia Pacific moves for electrification in rural regions, and transition towards decentralized distribution and transmission of power are factors which can drive market growth.
In addition, influx of wherewithal in the renewable energy sector, development of new power generation projects, replacement of legacy infrastructure, and constant demand of electricity are other factors which can command the demand of MCBs and MCCBs. Moreover, demand for such electrical devices in renewable energy plants in China, India, and Southeast Asian countries can augur well for the global MCB and MCCB market.
But weakness towards slow tripping and heat can restrain market growth.
The MCB and MCCB market is segmented by type, rated current, and end-use.
By type, it is segmented into MCB and MCCB. The latter is expected to be the best-performing segment due to its capacity to prevent circuit shortage of equipment with power rating of 1000A. They have self-adjustable settings for protecting electrical equipment against faults, short circuits, and thermal overloads.
By rated current, it is segmented into up to 20A, 21-75A, 76-250A, 251-800A, and above 800A. The 76-250A segment is expected to dominate in the market due to its application in transmission & distribution, automotive, manufacturing aid process, and residential and commercial buildings.
By end-use, it is segmented into transportation, manufacturing, residential & commercial, and power generation. The residential & commercial segment is predicted to be the best performing end-use due to easy handling of circuit breakers in these applications.
Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), North America and South America are major regions in the global MCB and MCCB market.
The APAC region accounted for 34.06% share in 2017, with the valuation of China pegged at USD 820.6 million in the same year. The growth can be attributed to heavy investments in the renewable energy sector coupled with construction of transmission & distribution plants. Formulation of policies and subsidy schemes to achieve renewable energy targets can bode well for the market. This is exemplified by the construction of solar power projects of China and India capable of generating close to 130 GW and 175 GW respectively.
Europe is expected to be the second-largest region due to renewable energy targets agreed by various countries part of the European Union (EU). Supportive policies for retrofitting or replacement of legacy electric infrastructure are expected to drive the regional market growth substantially.
Siemens (Germany), CHINT Group (China), Legrand (France), Fuji Electric Co. Ltd (Japan), ABB (Switzerland), Hitachi Industrial Equipment Systems Co. Ltd (Japan), Rockwell Automation, Inc. (US), Mitsubishi Electric Corporation (Japan), NOARK Electric (US), Schneider Electric (France), Eaton (Ireland), Havells India Ltd (India), and others are main players in the MCB and MCCB market.
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