USD 3.10 billion
Report ID:
SQMIG10A2038 |
Region:
Global |
Published Date: March, 2024
Pages:
154
|Tables:
90
|Figures:
76
Global Molded Case Circuit Breakers Market size was valued at USD 3.10 billion in 2022 and is poised to grow from USD 3.4 billion in 2023 to USD 7.13 billion by 2031, growing at a CAGR of 9.7% in the forecast period (2024-2031).
Increased investment in rail transport, expansion and distribution networks, increasing capital expenditure in clean energy technologies and smart grid solutions is expected to drive the demand for molded case circuit breakers. European US. continues to boast of FMCG - GDP growth in China, India, Philippines and Vietnam remains high despite possible China-China trade dispute concerns.
As a result, countries continue to emphasize on energy security by investing in conventional and renewable energy sources, which will fuel the growth of the molded case circuit breakers market in APAC Middle East countries such as UAE, Saudi Arabia, Qatar and Bahrain are expanding investment in research activities Molded case circuit breaker market is growing.
Smart grid growth due to income, demographic stability and increasing consumer demand for monitoring and control devices to better manage their electricity consumption. It is expected that developed countries the U.S. and European countries including will see a significant growth in smart meter adoption is seeing a dramatic increase, in detail the demand for intelligent electronic devices to monitor the entire grid system is increasing. Furthermore, the demand for smart grid infrastructure with smart monitoring and control devices is set to rise further in developing countries due to increasing power consumption coupled with frequent power outages because of the public confrontation.
Global Market Size
USD 3.10 billion
Largest Segment
250-800A
Fastest Growth
Growth Rate
9.7% CAGR
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The global molded case circuit breakers market forecast is segmented on the basis of product type, power range, end-use, and region. On the basis of product type, the market is divided into miniature and molded cases. Based on power range, it is divided into below 0-75A. 75-250A, 250-800A, and above 800A. On the basis of end use, it is divided into consumer power utilities, Industrial, Residential, Commercial, and others. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Analysis by Power Range
The 75-250A segment accounted for 38.2% of the molded case circuit breaker market share by 2021 and is expected to maintain its dominance over the forecast period. 75-250A power range molded case circuit breakers are widely used in small production applications. The worldwide industrialization of various pharmaceutical and electronic components has led to the demand for screwdrivers fabricated in molded case circuit breakers
Circuit breakers with current ratings of 250-800A segment have been developed for many masses industrial and commercial applications. They can handle the high current rates associated with large machinery, equipment and mechanical processes. These circuit breakers are critical for protecting critical infrastructure, including manufacturing facilities, power distribution, and other large-scale infrastructure.
Analysis by Product
The mold case segment accounted for 65% of the molded case circuit breaker market share by 2021 and is expected to maintain its dominance over the forecast period with faulty voltage under-voltage, over-current and short-circuit conditions in various commercial and lighting industrial applications -The development of molded-case circuit breakers market to protect conditions is expected to boost the molded-case circuit breakers market during the forecast period.
The role of miniature segment in the global molded case circuit breakers market. Miniature circuit breakers (MCBs) are known for their compact design, making them suitable for use where space is limited. Small circuit breakers are often used in residential and commercial buildings for excessive short circuit protection.
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The Asia-Pacific region dominated the market by 2022. India and China are the major players in this region mainly due to their population and energy requirements. Asia Pacific is the fastest growing region in terms of revenue of the global molded case circuit breakers market. China, Japan, India, South Korea and Australia are major contributors to the sector’s growth. The rapidly growing population and economy in the Asia-Pacific region fuels the growth of construction, healthcare, electricity, and other sectors in the region, which in turn drives the demand for circuit breakers and other equipment protect themselves in these activities.
The North America region is estimated to grow at the largest CAGR throughout the forecast period. The growing market in this segment is driven by rising electricity consumption in the US. and Canada as a whole in particular. Also, the strong need for occupational safety of individuals in various industries is driving the growth of the molded case circuit breakers market in this segment. In addition, conventional resource resources such as coal, petroleum and natural gas are rapidly declining, leading to increased demand for electricity from renewable sources.
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Drivers
Advances in the Use of Molded Case Circuit Breakers in Various End-use Industries
Increasing Power Demand
Restraints
Lack of Robust Policies in Some Countries may Hinder Market Growth
Effects of Economic Uncertainty
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The competitive environment of the global Molded Case Circuit Breakers market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. The global market competitive landscape provides detailed information from competitors. Detailed information includes company overview, company financials, earnings, market potential, investment in research and development, new market strategy, global presence, manufacturing regions and locations of production, manufacturing capacity, company strengths and weaknesses, product launches, product expansion and expansion, application authority.
Top Player’s Company Profiles
Recent Developments
Rising Expansion of Transmission and Distribution Networks
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Widespread growth in innovative infrastructure, increase in power consumption and increasing focus on power distribution is expected to fuel the demand for molded case circuit breaker market growth during the projected period. The demand for mold case circuit breakers from commercial and residential sectors is increasing. This is to speed up the safe and reliable operation of various electrical circuits and is expected to fuel the growth of the global molded case circuit breakers market. Increased investments by key players to bring about development and improvement in incorporated powder mixtures to meet the growing needs of consumers is a major key factor driving the market growth. With the increase in power consumption along with the expansion of power distribution, electrical faults such as short circuits or overheating are likely to increase the demand for molded case circuit breakers.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 3.10 billion |
Market size value in 2031 | USD 7.13 billion |
Growth Rate | 9.7% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Molded Case Circuit Breakers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Molded Case Circuit Breakers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Molded Case Circuit Breakers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Molded Case Circuit Breakers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Report ID: SQMIG10A2038