Portland, OR, March 02, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global molded case circuit breakers market generated $9.2 billion in 2021, and is estimated to reach $15.5 billion by 2031, witnessing a CAGR of 5.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $9.2 Billion |
| Market Size in 2031 | $15.5 Billion |
| CAGR | 5.40% |
| No. of Pages in Report | 302 |
| Segments Covered | Product Type, Power Range, End Use and Region |
| Drivers | Increase in railway transportation |
| Expansion of transmission and distribution networks | |
| Rise in capital expenditure in clean energy technology and smart grid solution | |
| Surge in the use of electronic gadgets for comfort in residential and commercial spaces | |
| Rapid rise in the use of molded case circuit breakers in various end uses such as in power utilities, residential, commercial, and industrial | |
| Opportunities | Government spending on R&D programs for transmission and distribution networks, owing to the modernization of aging infrastructure in developed countries such as the U.S. and Europe |
| Restraints | Molded case circuit breakers in extremely difficult conditions lead to false trips or other kinds of failures such as insulation deterioration, failure of components, and others. They face extreme vibrations in various applications, including marinas, wind turbines, generators, and others |
Covid-19 Scenario:
- The COVID-19 pandemic outbreak had a significant impact on the growth of the molded case circuit breakers market, owing to a decline in the demand for power generation across the globe.
- Moreover, the closure of manufacturing facilities and the demand for power from various industries left a significant impact on the market.
- In addition, the pandemic created awareness among the people regarding the advantages of molded case circuit breakers which drove the growth of the global molded case circuit breakers market.
The report offers a detailed segmentation of the global molded case circuit breakers market based on product type, power range, end use, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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In terms of product type, the molded-case segment captured the largest market share of nearly two-thirds of the global molded case circuit breakers market in 2021 and is expected to maintain its leadership during the forecast period. The miniature segment is likely to achieve the fastest CAGR of 5.7% through 2031.
Based on power range, the 75-250A segment held the largest share in 2021, accounting for nearly two-fifths of the global molded case circuit breakers market and would maintain its dominance in terms of revenue through 2031. However, the above 800A segment is estimated to witness the fastest CAGR of 6.2% during the forecast period. The report also discusses the 0-75A and 250-800A segments.
Based on end use, the power utilities segment held the largest share in 2021, accounting for more than one-third of the global molded case circuit breakers market and would maintain its dominance in terms of revenue through 2031. However, the others segment is estimated to witness the fastest CAGR of 6.2% during the forecast period. The report also discusses the industrial, residential, and commercial segments.
Based on region, the market in Asia-Pacific was the largest in 2021, accounting for nearly two-fifths of the global molded case circuit breakers market share and is likely to maintain its leadership status during the forecast period. The same market is expected to manifest the highest CAGR of 5.8% from 2022 to 2031. The other regions analyzed in the study include North America, Europe and LAMEA.
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Leading players of the global molded case circuit breakers market analyzed in the research include Chint Group, Fuji Electric Co Ltd., Rockwell Automation Inc., Eaton Corporation, Havells India Ltd, General Electric, ABB Ltd., Toshiba Corporation, Siemens AG, Schneider Electric, JSL Electric Corporation, and Powell Industries Inc.
The report analyzes these key players of the global molded case circuit breakers market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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