Global Molded Case Circuit Breakers Market 2020 Global Trends, Share by 2024

Posted by Anvi on March 27th, 2020

Molded Case Circuit Breakers (MCCB) Market Overview

The Global Molded Case Circuit Breakers Market is projected to have a CAGR of 6.28% during the forecast period.

Molded Case Circuit Breaker (MCCB) is an electromagnetic device mainly used for the protection of different electrical devices and loads. This system is an essential component in an electrical circuit as it prevents electricity overloading, thus, avoiding damage to electrical wiring and devices and electrical fire outbreak. Increasing focus towards using more reliable electricity protection devices is the factor supporting the preference for MCCB over conventional fuse wires. However, inconsistencies such as vulnerability to heat and slow tripping are the factors that may hamper the growth of the market.

Competitive Landscape

As the existence of several well-established and small players, the global market for MCCB appears to be highly competitive. Well-known players incorporate acquisition, collaboration, partnership, expansion, and product launch to gain a competitive advantage in the market and to maintain their market position. These key players compete on pricing and services. Vendors, operating in the market, strive to deliver the best quality products and services based on advanced technologies and best practices. These key players make substantial investments on R&D to secure guaranteed resources for customers.

Industry 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–75A, 76A–250A, 251A–800A, and above 800A.

Regional Analysis

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.

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.

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.

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Anvi

About the Author

Anvi
Joined: October 25th, 2019
Articles Posted: 461

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