WASHINGTON, Feb. 03, 2022 (GLOBE NEWSWIRE) -- The Global Molded Case Circuit Breakers Market size is expected to reach over USD 14.82 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period.
Market Synopsis
Rising infrastructural and manufacturing activities in Southeast Asia, rising rural electrification, increasing energy conservation programs in urban areas, rising demand from utilities and industrialization, renewal in construction activities in the emerging nations like China and India led by numerous government initiatives will stimulate the growth for Molded Case Circuit Breakers Market, states Vantage Market Research, in a report, titled “Molded Case Circuit Breakers Market by Rated Current (0A-20A, 21A-75A, 76A-250A, 251A-800A), by Type (MCB, MCCB), by End-User (Transmission & Distribution, Infrastructure (Residential and Commercial), Power Generation, Manufacturing and Process Industries), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List of Prominent Players in the Molded Case Circuit Breakers Market:
- Schneider Electric (France)
- ABB Ltd. (Switzerland)
- Legrand (France)
- Fuji Electric Co., Ltd. (Japan)
- Rockwell Automation, Inc. (U.S.)
- Hitachi, Ltd. (Japan)
- WEG (Brazil)
- Chint Group (China)
Market Dynamics:
Driver: Consistent Modification in Electricity Infrastructure
Factors like, consistent modification in infrastructure of electricity coupled with ever-rising production and consumption of electricity are driving the global Molded Case Circuit Breakers Market growth. These days, nations are investing in the growth of electricity infrastructure to provide more reliable, competitive, and efficient public service. Global electricity demand is growing rapidly due to factors like, rising industrialization and population growth. Increasing bent toward using reliable electricity protection devices more is one of the key factors responsible for the rising Molded Case Circuit Breakers demand. Adoption of reliable, technologically advanced, and cost-effective electricity protection devices is rising rapidly. Consistent development across the electrical equipment sector, infrastructure and construction projects, and manufacturing of aerospace equipment which are technologically-advanced and automation vehicles are also some of the key factors facilitating the Molded Case Circuit Breakers Market growth.
Restraint: High Raw Material Cost and Varying Operating Properties
There are some challenges and restraints faced which can hamper the market growth for Molded Case Circuit Breakers. Varying operating properties of the breaker which depends on the ambient temperature is expected to act as a restraint for market growth. Furthermore, the Molded Case Circuit Breakers Market growth is limited due to the huge raw materials cost. Moreover, vulnerability to heat, slow tripping, and other discrepancies are proving to be a restraint for market players.
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Regional Trends
Asia Pacific accounted for significant share in the market globally owing to the rising usage of these circuit breakers in the manufacturing and infrastructure industries. The development in this regional market is also due to the thriving construction and manufacturing industries, particularly, in Southeast Asia. Demand for Molded Case Circuit Breakers is the facilitating the capacity and demand of power generation in nations such as India and this is also serving as a driving factor.
Middle East is also expected to grow at a considerable CAGR owing to the increasing demand for electricity. This demand from MEA stems from factors like, industrialization, rapid urbanization, economic growth, and technological advancements. Infrastructure and construction projects in nations such as Qatar, Kuwait, Dubai, and Saudi Arabia provide opportunity for investors looking to invest in the region.
Recent Developments
- Feb, 2019: SIEMENS debuts new 3VA Molded Case Circuit Breakers set standards in versatility and help to reduce costs and time throughout the project.
- May, 2018: Schneider Electric has entered into definitive agreement to buy L&T electrical & automation business for 1.4 billion.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Molded Case Circuit Breakers Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on Molded Case Circuit Breakers Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Browse market data Tables and Figures spread through 155 Pages and in-depth TOC on "Molded Case Circuit Breakers Market by Rated Current (0A-20A, 21A-75A, 76A-250A, 251A-800A), by Type (MCB, MCCB), by End-User (Transmission & Distribution, Infrastructure (Residential and Commercial), Power Generation, Manufacturing and Process Industries), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/molded-case-circuit-breakers-market-350524
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Molded Case Circuit Breakers Market?
- How will the Molded Case Circuit Breakers Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Molded Case Circuit Breakers Market?
- What is the Molded Case Circuit Breakers market drivers and restrictions?
- What will be the CAGR and size of the Molded Case Circuit Breakers Market throughout the forecast period?
This market titled “Molded Case Circuit Breakers Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 9.51 Billion |
| Projected Market Size in 2028 | USD 14.82 Billion |
| CAGR Growth Rate | CAGR of 6.8% from 2022–2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Rated Current: - 0A-20A, 21A-75A, 76A-250A, 251A-800A, Above 800A Type: - MCB, MCCB End-User: - Transmission & Distribution, Infrastructure (Residential and Commercial), Power Generation, Manufacturing and Process Industries, Transportation (Railways), Others |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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