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2022
Molded Case Circuit Breakers Market

Molded Case Circuit Breakers Market by Product Type (Mini-Block, Fuse Free Switch, and Others), Rating (0A - 75A, 75A - 250A, 250A - 800A, Above 800A, and Others), and End User (Power Utilities, Industrial, Residential, Commercial, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2028

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Jul 2022 | 412 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Circuit breakers are among the most crucial components of an electric circuit system. Molded case circuit breaker (MCB) is an electromagnetic device that combines a current sensitive device with temperature sensitive electromagnetic device to protect an electrical circuit from damage caused by excess current, short circuit, and overload. This circuit breakers are used to connect and disconnect low voltage circuits and protect wiring by automatically isolating the circuits when they are overloaded or if a short circuit occurs. To interrupt the current flow when a fault is detected is the primary function of the molded case circuit breaker. Growing importance to implement rigorous practice to minimize arc flash hazards in high voltage environments and expanding electrical safety compliance requirements in manufacturing and energy sector further fuels the growth of global molded circuit breaker. However high-cost possibilities of delayed tripping since the operating characteristics of the breaker vary depending upon the ambient temperature are the minor factor identified as restraints which may deter the progression of global molded case circuit breaker market.

Covid-19 Impact Analysis 

  • The coronavirus's unfavorable global effects are already evident, and they will have a big impact on the Molded Case Circuit Breakers in 2020.
  • The World Health Organization has declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths across the world. Exports & Imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
  • The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
  • Since the pandemic, the restriction of imports and exports has affected the Molded Case Circuit Breakers market to a great extent as the consumers’ consumption and demand patterns are changing amidst pandemics. Issues such as raw material unavailability, stagnation of the global trade and subsequent delays in installation are estimated to drive the prices of the breakers upwards which will prove to be a significant obstacle that the industry will have to adapt to. Increase in prices will cause project delays which, in turn, would again cause a spike in prices. 

Top Impacting Factors

Rise in electricity consumption coupled with expanding power distribution network is the key factor contributing towards the growth of global molded case circuit breaker market. Continuous adoption to circuit breaker power protection solutions by residential, industrial, and commercial sectors across various regions globally accelerates the growth of global molded case circuit breaker market. Among all regions North America dominates the market due to the reason of stringent compliance requirement on electrical safety. Also owing to rapid industrialization and expanding commercial and residential infrastructure in the countries of Asia-Pacific is also expected to boost the growth of the market.

Market trends

Rising production and consumption of electricity bolstering the growth of the market. 

Factors such as continued modification in electricity infrastructure and ever rising electricity production are driving the growth of global molded case circuit breakers market. Because of these factors’ countries are investing in development of electricity infrastructure in order to provide more efficient, reliable, and competitive public service. Increasing population growth and industrialization in the developing economies like China and India are the major reason owing to the rapid growth of the sector.

Rising consciousness towards a safe and reliable electrical system. 

Growing inclination towards using more reliable electricity protection devices is one of the fundamental factors responsible for the growing demand for the circuit breakers. Also, this is a cost saving practice as it saves the other heavy appliances from getting damage during a faulty condition.

Focus and investment towards research and development (R&D) of transmission and distribution network is indirectly affecting the market. 

Owing to the modernization of aging infrastructure in developed countries such as USA and Europe, the government is spending the money for the research and development programs for the transmission and distribution networks. This in turn has led to the demand for the circuit breakers as well and hence the market is expected to prosper.

Key Benefits of the Report

This study presents the analytical depiction of the Molded Case Circuit Breakers industry along with the current trends and future estimations to determine the imminent investment pockets.

  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Molded Case Circuit Breakers market share.
  • The current market is quantitatively analyzed from 2020 to 2028 to highlight the Molded Case Circuit Breakers market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed Molded Case Circuit Breakers market analysis based on competitive intensity and how the competition will take shape in coming years.

Key Market Segments

Segments Sub-segments
By Product Type
  • Mini-Block
  • Fuse Free Switch
  • Others
By Rating
  • 0A - 75A
  • 75A - 250A
  • 250A - 800A
  • Above 800A
  • Others
By End-User
  • Power Utilities
  • Industrial
  • Residential
  • Commercial
  • Others
By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA


Key Market Players

  • Havells India Ltd
  • Rockwell Automation, Inc.
  • Eaton Corporation PLC
  • Siemens AG
  • Chint Group
  • Fuji Electric Co Ltd
  • Schneider Electric SE
  • Powell Industries, Inc.
 
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