Molded Case Circuit Breakers Market to be Worth USD 14.82 Billion by 2028

Molded Case Circuit Breakers
  • Molded Case Circuit Breakers Market

The Global Market for Molded Case Circuit Breaker (MCCB) market was estimated at USD 9.51 Billion in 2021, and is expected to grow at a Compound Annual Growth Rate (CAGR) 6.8% from 2022 to 2028. Circuit breakers are among the most important components of an electrical circuit system. The Molded Case Circuit Breaker is an electronic device that combines a sensitive current device with a temperature sensitive device to protect the electrical circuit from damage caused by excessive power, circuit, and overheating. Disrupting the current flow after a fault detection is a major function of the circuit breaker of the molded case. MCCBs are widely used in industry, power generation, and transmission and distribution applications that require heavy protection capacity.

Factors such as the continuous transformation of electrical infrastructure and the ever-increasing production and use of electricity drive market growth for Molded Case Circuit Breakers built around the world. Nowadays, governments are investing in the development of electricity infrastructure to provide the most efficient, reliable, and competitive public service. Increasing the tendency to use reliable electrical protection devices is one of the key factors contributing to the growing demand for molded circuit breakers. The adoption of inexpensive, reliable, and technologically advanced electrical protection equipment is growing rapidly. Continuous growth across the electronics industry, construction and infrastructure projects, as well as the development of advanced aerospace equipment and convertible vehicles are some of the major factors supporting the growth of the circuit breakers market. In addition, government efforts to save electricity, electrification in rural areas, coupled with a growing construction sector are factors that drive targeted market growth. The increase in the number of smart cities in developed and developing countries is also expected to boost the market for circuit breaker breakers worldwide in the near future.

Features such as different breaker operating modes depending on ambient temperature can limit the need for circuit breaker devices, thereby reducing market growth for circuit breakers. The high cost of mold circuit breakers rather than fuse is another factor that could hamper the market growth of Molded Case Circuit Breakers worldwide. Thermal circuit breakers that are exposed to heat are another factor that can affect global market growth. However, the use of automation technology can create high potential for players' revenue in the target market.

The Global Molded Case Circuit Breaker Market consists mainly of North America, Europe, Asia Pacific, Latin America, Middle East & Africa. Asia Pacific is one of the fastest growing regions in the world due to population growth, urbanization and industrialization. As a result, the need for a guaranteed power supply is high. To meet these needs, many countries are investing in renewable energy and transmission and distribution infrastructure. Both China and India have a large share of the global industrial sector, especially the energy-intensive manufacturing sector. In addition, India is investing heavily in the renewable energy sector. Most of these investments are aimed at the development of wind farms and solar panels, which are expected to help expand the distributed electricity generation market as well as the mold case circuit breaker market. This, too, is likely to further the need for district breakers formed in the region during the forecast period.

Some of the important market players in the Molded Case Circuit Breaker market are Schneider Electric (France), ABB Ltd. (Switzerland), Legrand (France), Fuji Electric Co., Ltd. (Japan), Rockwell Automation, Inc. (U.S.), and Hitachi, Ltd. (Japan), WEG (Brazil), and Chint Group (China).