Molded Case Circuit Breakers Market: Increased need for electricity to boost the market growth

Global Molded Case Circuit Breakers Market size was valued at USD 10.38 Bn in 2022 and is expected to reach USD 16.51 Bn by 2029, at a CAGR of 6.58% over the forecast period (2023-2029).
Molded Case Circuit Breakers Market Overview
Molded Case Circuit Breakers are used in power distribution system design primarily to protect low-voltage electrical equipment and circuits. Safe applications requires an understanding of Molded Case Circuit Breakers performance and ratings. Applications of these devices ensure continuity of power during system disturbances.

Molded Circuit Breakers are used to protect electrical circuits from over currents and short circuits. Molded Circuit Breakers current rating list includes 16A, 20A, 25A, 32A, 40A, 50A, 63A, 80A, 100A. The main components of Molded Circuit Breakers are the Molding case, Terminals, Operating Apparatus, Trip Unit, and Arc Chamber.To know about the Research Methodology :- Request Free Sample Report
Molded Case Circuit Breakers Market Dynamics
Growing demand for electricity to boost the Molded Case Circuit Breakers market growth

The demand for electricity continues to increase globally, due to growing need for reliable and safe power distribution systems. Molded Case Circuit Breakers help protect electrical systems from overloads, short circuits, and ground faults, making them an essential component of power distribution systems and this factor is expected to influence the market growth. The need for modern and efficient infrastructure in developing economies is driving the demand for Molded Case Circuit Breakers Market. The construction of new buildings, industrial facilities, and power plants require the installation of MCCBs to ensure the safety and efficiency of electrical systems. Governments and regulatory bodies across the world are implementing stringent safety regulations for electrical systems Molded Case Circuit Breakers play a critical role in ensuring compliance with these regulations, making them an essential component in the construction and maintenance of electrical systems. Technological advancements have led to the development of more efficient and reliable MCCBs. Smart Molded Case Circuit Breakers with digital sensors and communication capabilities are becoming increasingly popular due to their ability to provide real-time information on the status of electrical systems. Increasing demand from end-use industries, including commercial, industrial, and residential sectors and also urbanization and industrialization, is expected to fuel the market growth.

Molded Case Circuit Breakers Restraints

Molded Case Circuit Breakers are more expensive than traditional circuit breakers, which can deter some customers from investing in them and this reason is expected to restrain the market growth. The production of MCCBs requires various raw materials such as copper, aluminum, and plastics. The limited availability of these materials result in increased production costs, which is expected to limit market growth. MCCBs are essential components of power distribution systems, they face competition from other circuit breaker types, such as miniature circuit breakers and air circuit breakers. Despite their importance in power distribution systems, there is limited awareness among end-users, particularly in developing economies, about the benefits of Molded Case Circuit Breakers over other types of circuit breakers. The installation and maintenance of MCCBs require skilled personnel, which can be a challenge in regions where there is a shortage of qualified electrical engineers and technicians and all these factors is expected to hamper the market growth.
Molded Case Circuit Breakers Market Segment Analysis
Based on Type, the market is segmented into B type, C type, D type, K type, and Z type. B type segment dominated the Molded Case Circuit Breakers industry in 2022 and is expected to continue the dominance over the forecast period. Type B Molded Case Circuit Breakers is mostly found in distribution boards. The circuit breakers trip between 3-5X rated current. These are mostly used for sub-circuit/ resistive load protection such as lighting and heating elements. Type B Molded Case Circuit Breakers are found in residential properties, these breakers trip when the current rating limit thrice. Type B breakers are applicable to most home appliances. All these factors are expected to boost the segment growth in the Molded Case Circuit Breakers Market growth.
Type C beakers handle upto 10X current rating before tripping, and used for industrial and commercial settings. As industries rely on transformers, fans, and motors type C breakers are used to handle the pressure of current.

Based on Current Rating, the market is segmented into 0-75A, 75-250A, 250-800A, and above 800A. 0-75A to 75-250A segment dominated the market in 2022 and is expected to continue the dominance over the forecast period. Molded case circuit breakers are mostly used heavy current circuits. The circuits are used in heavy-duty industrial applications. The presence of manufacturers across the globe to produce chemical and electronic products is expected to fuel the demand for Molded Case Circuit Breakers market share. Manufacturers ensure that the circuits are designed and tested to meet various quality, performance, and reference standards & certifications, which helps to increase the market share.
Molded Case Circuit Breakers Market Regional Insight
The Asia Pacific region dominated the market in 2022 and is expected to continue the dominance over the forecast period. The Asia Pacific Molded Case Circuit Breakers Market is a growing market that includes countries such as China, India, Japan, Australia, and others. The market for Molded Case Circuit Breakers in the Asia Pacific region is driven by various factors such as rapid industrialization, urbanization, and the growing demand for electricity. The increasing need for reliable power distribution systems, safety, and efficiency has led to the adoption of Molded Case Circuit Breakers in various applications, including commercial, residential, and industrial sectors and is expected to boost the Molded Case Circuit Breakers market growth.

China is the largest market for Molded Case Circuit Breakers in the Asia Pacific region, due to growing economy, and increasing infrastructure development. India is also a significant market for MCCBs, as the country is investing heavily in its power sector to meet the growing demand for electricity. The Asia Pacific Molded Case Circuit Breakers Market is expected to continue growing due to the increasing demand for electricity and the need for safe and efficient power distribution systems.

The North America Molded Case Circuit Breakers market is a mature market that includes the United States and Canada. MCCBs are electrical protection devices used to protect electrical systems from overloads, short circuits, and ground faults. The market in North America is expected to be driven by factors such as increasing demand for power distribution systems, the need for reliable and safe electrical infrastructure, and the modernization of existing infrastructure. Rise in construction activities in the region, particularly in the commercial and residential sectors, is expected to boost the market growth in the region.

The United States is the largest market North America, due to presence of a well-developed infrastructure. Canada is also a significant market for MCCBs, driven by increasing investments in its power sector and the modernization and its well-developed infrastructure.
Molded Case Circuit Breakers Market Competitive Landscape
Molded Case Circuit Breakers key players are innovating new skills and ideas to acquire the Molded Case Circuit Breakers Market trends over the forecast period. To maintain the competitive edge, the Molded Case Circuit Breakers industry participants are implementing various growth strategies. Innovations, M&A, collaborations, and partnerships are adopted by the key players to thrive in the competitive market and to enhance the Molded Case Circuit Breakers Market penetration to rise the sales of molded case circuit breakers in coming years. Some major key players of the market are Fuji Electric India, Eaton, ABB, C&S Electric, Maxge Electric Technology Co., Ltd, and Tac Automation Pvt. Ltd. Schneider Electric ranges of Molded Case Circuit Breaker devices for industrial applications provide unique and customized solutions depending on the requirement of load. These companies are investing in research and development to improve their product offerings and stay ahead of the competition.

In August 2022, Siemens launches new 3VA UL large frame Molded Case Circuit Breaker. They developed a highly flexible MCCB for high current applications to address the need of switchgear manufacturers and panel builders in an environment increasing digitalization. Circuit breaker data is recorded with an accuracy of +/-1% and is transmitted to higher level systems.
Molded Case Circuit Breakers Market Scope: Inquire before buying



Molded Case Circuit Breakers Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 10.38 Bn.


Forecast Period 2023 to 2029 CAGR:
6.58%
Market Size in 2029:
US $ 16.51 Bn.


 Segments Covered:
by Type
• B type
• C type
• D type
• K type
• Z type


by Current Rating
• 0-75A
• 75-250A
• 250-800A
• Above 800A


by Application
• Medical Equipment
• Elevators
• HAVC Units
• Inductive load applications
• Pumps
• Motors
• Welding machinery
• Generators
• Electric Feeders


by End-User
• Residential
• Commercial
• Industrial



Molded Case Circuit Breakers Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Molded Case Circuit Breakers key players include
• Fuji Electric India
• Eaton
• ABB
• C&S Electric
• Maxge Electric Technology Co., Ltd
• Tac Automation Pvt. Ltd.
• Rockwell Automation
• Chint Group
• Schneider Electric
• WEG
• TERASAKI ELECTRIC CO., LTD.
• Hitachi Industrial Equipment Systems
• Maxguard
• Mitsubishi Electric Corporation
• Noark Electric
• GEYA Electrical Equipment Supply
• JJ Enterprises
• Nader Circuit Breaker
• L & T
• Havells
• Siemens

Frequently Asked Questions:

1] What is the growth rate of the Global Molded Case Circuit Breakers Market?
Ans. The Global Molded Case Circuit Breakers Market is growing at a significant rate of 6.85% over the forecast period.

2] Which region is expected to dominate the Global Molded Case Circuit Breakers Market?
Ans. Asia Pacific region is expected to dominate the Molded Case Circuit Breakers Market over the forecast period.

3] What is the expected Global Molded Case Circuit Breakers Market size by 2029?
Ans. The market size of the Molded Case Circuit Breakers Market is expected to reach USD 16.51 Bn by 2029.

4] Who are the top players in the Global Molded Case Circuit Breakers Industry?
Ans. The major key players in the Global Molded Case Circuit Breakers Market are Fuji Electric India, Eaton, ABB, C&S Electric, and Maxge Electric Technology Co., Ltd.

5] Which factors are expected to drive the Global Molded Case Circuit Breakers Market growth by 2029?
Ans. Growing demand for electricity are is expected to drive the Molded Case Circuit Breakers Market growth over the forecast period (2023-2029).