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2023

Molded Case Circuit Breakers Market

Molded Case Circuit Breakers Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type, by Power Range, by End Use : Global Opportunity Analysis and Industry Forecast, 2021-2031

EP : Equipment and Devices

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Author's: Marpu Vinod| Prakhar Jain | Eswara Prasad
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Molded Case Circuit Breakers Market Research, 2031

The global molded case circuit breakers market size was valued at $9.2 billion in 2021, and molded case circuit breaker industry is projected to reach $15.5 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.

REPORT KEY HIGHLIGHTERS

  • The molded case circuit breakers market has been analyzed in value. The value of the molded case circuit breakers market is analyzed in millions.
  • Global molded case circuit breakers market is fragmented in nature with many players such as Havells India Ltd, Rockwell Automation Inc., Eaton Corporation, Siemens AG, Fuji Electric Co Ltd., Schneider Electric, General Electric, ABB Ltd., JSL Electric Corporation, Toshiba Corporation, Chint Group, and Powell Industries Inc. In addition, tracked key strategies such as product launches, acquisitions, mergers, expansion, etc. of various manufacturers of molded case circuit breakers.
  • Conducted primary interviews with raw material suppliers, wholesalers, suppliers, and manufacturers of the molded case circuit breakers market to understand the market trends, growth factors, pricing, and competitive strategies of the key players.
  • Explained the benefits and drawbacks of different regulations governing the growth of the molded case circuit breaker industry.

Molded Case Circuit Breakers Market

Molded case circuit breaker is a type of electrical protection device that can be used for a wide range of voltages and frequencies. It is commonly used when the load current exceeds the capabilities of miniature circuit breakers. MCCB is very useful in protection against overload and electrical faults and in switching a circuit on and off.

The increase in railway transportation, expansion of transmission and distribution networks, rise in capital expenditure in clean energy technology, and smart grid solution is projected to boost the demand for the molded case circuit breaker market. The increased focus on investments in clean energy projects and the development of renewable energy. The extensive development of new renewable projects, rise in electricity usage, and increase in focus on distributed power generation are anticipated to drive the demand for the molded case circuit breakers market growth during the forecast period.

The government is spending money 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. The above trends and growth in demand for smart electronic gadgets will provide ample opportunities to drive the growth of the molded case circuit breakers market during this forecast period.

Focus and investment towards R & D of transmission and distribution networks affect the development of the market. 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. There are various applications in which these circuit breakers face extreme vibrations, including marinas, wind turbines, generators, and others. In addition, circuit breakers are used in different temperature conditions such as extreme hot and cold conditions depending on the application and region where it is used. These extremely hot and cold conditions cause insulation failures, a saturation of dust & moisture, and others on the parts of molded case circuit breakers, thereby, leading to operational failures of the equipment. This in turn is expected to restrain the growth of the molded case circuit breakers market during the forecast period.

Rise in Use of Molded Case Circuit Breakers in Various End Use Industries

There is a rapid rise in the use of molded case circuit breakers in various end uses such as in power utilities, residential, commercial, and industrial. Molded case circuit breakers are used in various power utilities applications, including renewable energy plants, lighting systems, and others to protect them from short circuits, overvoltage, and other abnormal conditions. Furthermore, molded case circuit breakers are used in various industrial applications such as oil & gas, chemical, automotive, and others. They are widely utilized in industrial electrical systems, large manufacturing facilities, machinery circuits, and others to protect them from short circuits, overvoltage, and other abnormal conditions.

In addition, residential applications, including household electrical systems, large apartments, lighting & outlet circuits, and others protect them from short circuits, overvoltage, and other abnormal conditions. Increase in demand for molded case circuit breakers from commercial sites such as shops, complexes, malls, theatres, and other applications drives the growth of the global molded case circuit breakers market during the forecast period. In addition, the increase in urbanization and industrialization in developing economies such as India, China, Brazil, and others further increase the demand for molded case circuit breakers in providing the uninterrupted power supply, which in turn is expected to boost the growth of the molded case circuit breakers market during the forecast period. Fuses were largely used in commercial applications due to their cost-effective nature before.

However, they have been replaced by circuit breakers in recent years, as they offer enhanced flexibility and superior sensitivity toward heavy electric loads. All these factors together are anticipated to contribute to the growth of the demand for molded case circuit breakers in the commercial sector during the forecast period.

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 case. On the basis of 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.

Molded Case Circuit Breakers Market by Product Type

On the basis of product type, the molded case segment accounted for 65% of the molded case circuit breakers market share in 2021 and is expected to maintain its dominance during the forecast period. The increase in demand for molded case circuit breakers to protect the circuit from faulty conditions such as under voltage, overcurrent, and short circuit conditions in various commercial and small industrial applications is expected to drive the growth of the molded case circuit breakers market during the forecast period.

Molded Case Circuit Breakers Market by Power Range

On the basis of power range, the 75-250A segment accounted for 38.2% of the molded case circuit breakers market share in 2021 and is expected to maintain its dominance during the forecast period. 75-250A power range molded case circuit breaker is widely utilized in small manufacturing industries. The presence of industrial manufacturing facilities across the globe to produce various chemical and electronic products has led to the demand for molded case circuit breakers.

Molded Case Circuit Breakers Market by End Use

On the basis of end use, it is divided into power utilities, residential, commercial, and industrial. The power utilities segment accounted for the largest revenue share in the global molded case circuit breakers market in 2021. This growth in demand can be attributed to the progression of the investment of private toward the power generation utilities and distribution facilities. In addition, an increase in the investment of the government in developing countries towards rural electrification has boosted the demand for molded case circuit breakers in power utilities.

Molded Case Circuit Breakers Market by Region

On the basis of region, Asia-Pacific accounted for the largest market share in the market and is projected to grow at a CAGR of 5.8% during the forecast period. The growing population and the construction of renewable power plants and the investment towards the aging power generation facilities have generated enormous growth opportunities for the development of the molded case circuit breakers market in this region.

Asia-Pacific region dominated the market in the year 2021. India and China are major players in this region majorly due to their huge populations and due to their demand for energy. Asia-Pacific is the fastest-growing region in terms of revenue in the global molded case circuit breakers market. China, Japan, India, South Korea, and Australia are the major contributors to the growth of this region. The rapidly growing population and rise in the economy of the Asia-Pacific region propel the growth of building & construction, healthcare, power, and other industries in the region, which in turn increases the demand for protection devices such as circuit breakers in these industries.

North America region is projected to grow at a significant CAGR throughout the forecast period. The growth of the market in this region is majorly driven by an increase in electricity consumption across the U.S. and Canada. Moreover, the stringent need for operational safety of individuals in various industries fuels the growth of the molded case circuit breakers market in this region. Furthermore, conventional installations such as coal, petroleum, and natural gas are decreasing rapidly, which results in increased demand for electricity from renewable energy installations.

Furthermore, the increase in the trend for single-use residents and isolated families leads to new residential construction activities, where circuit breakers are installed. If the trend continues, the residential segment is expected to witness significant growth, in terms of market share, during the forecast period. The above factors is anticipated to provide ample opportunities for the development of the molded case circuit breakers market in this region during this forecast period.

Europe accounts for a major share of molded case circuit breakers market with predominance in residential and commercial segments. Countries such as Germany, France, the UK, Spain, and Italy are the major contributors to the revenue of this region. Europe is among one of the biggest producers of automobiles, accounting for 7% of its GDP and hence the manufacturing and processing needs continuous and stable power supply in case of abnormal conditions, which is fulfilled by using molded case circuit breakers for protection. According to the EUROCONSTRUCT, there is a slow growth of the construction industry in Europe, which in turn slows the demand for molded case circuit breakers market in the upcoming years.

Rapid urbanization and industrialization in the LAMEA region drive the growth of the circuit breaker market. An increase in investment in power generation projects to expand power infrastructure is expected to further boost the market growth in this region. Brazil registered the highest market share and growth in the LAMEA molded case circuit breakers market, owing to healthy trade relations and an increase in demand for electricity, which further augmented the need for electric circuit breakers. This factor will provide ample opportunities for the development of the market.

IMPACT OF COVID-19 ON THE GLOBAL MOLDED CASE CIRCUIT BREAKERS MARKET

The COVID-19 pandemic led to a decline in the demand for the molded case circuit breakers market due to a decline in the demand for power generation across the globe. In addition, the shutdown of manufacturing industries and the demand for power from various industries left a significant impact on the market.

Furthermore, the outbreak of the pandemic has created awareness among the people regarding the advantages of molded case circuit breaker which has driven the growth of the global molded case circuit breakers market.

Competitive Landscape

Key players in the molded case circuit breakers industry are Havells India Ltd, Rockwell Automation Inc., Eaton Corporation, Siemens AG, Fuji Electric Co Ltd., Schneider Electric, General Electric, ABB Ltd., JSL Electric Corporation, Toshiba Corporation, Chint Group, and Powell Industries Inc. These players have adopted various strategies to gain a higher share or retain leading positions in the market.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the molded case circuit breakers market analysis from 2021 to 2031 to identify the prevailing molded case circuit breakers market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the molded case circuit breakers market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global molded case circuit breakers market trends, key players, market segments, application areas, and market growth strategies.

Molded Case Circuit Breakers Market Report Highlights

Aspects Details
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Market Size By 2031

USD 15.5 billion

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Growth Rate

CAGR of 5.4%

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Forecast period

2021 - 2031

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Report Pages

302

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By Product Type
  • Miniature
  • Molded-Case
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By Power Range
  • 0-75A
  • 75-250A
  • 250-800A
  • Above 800A
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By End Use
  • Power Utilities
  • Industrial
  • Residential
  • Commercial
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, Italy, Spain, France, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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Key Market Players

General Electric, JSL Electric Corporation, Havells India Ltd, ABB Ltd., Rockwell Automation Inc., Toshiba Corporation, Siemens AG, Eaton Corporation, Schneider Electric, Fuji Electric Co Ltd., Powell Industries Inc., Chint Group

Analyst Review

As per CXO perspective, the global molded case circuit breakers market is expected to witness increased demand during the forecast period. The surge in industrialization across the globe has led to the construction of industrial facilities which has a positive impact on market growth.

A molded case circuit breaker (MCCB) is a type of electrical protection device that is used to protect the electrical circuit from excessive current, which can cause overload or short circuits.

The rapid growth in the building & construction in residential sectors is the key factor attributed to the leading position of the Asia-Pacific region in the global molded case circuit breakers market. The Asia-Pacific region is further expected to provide lucrative opportunities for leading the molded case circuit breakers manufacturers, owing to its huge potential to set up manufacturing plants and the surge in demand for circuit breakers from residential and commercial applications.

An increase in demand for reliable & continuous power supply and safety for electrical circuits are the key factors that drive the growth of the global molded case circuit breakers market during the forecast period. However, safety regulation regarding the product quality of circuit breakers and the resulting opportunity for the unorganized sector is the key factor that restrains the growth of the market. On the contrary, an increase in investment toward R&D to meet future requirements of safety in the smart grid infrastructures is expected to create a lucrative opportunity for the key players to maintain the pace in the molded case circuit breakers market in the upcoming years. Among the analyzed geographical regions, Asia-Pacific is expected to account for the highest revenue in the market during the forecast period, followed by North America, Europe, and LAMEA.

The upcoming decade is all about energy management and the establishment of smart and intelligent electric infrastructure. Key industry leaders are planning to develop their product portfolio that will be compatible with smart infrastructure, in line with this vision. This further means that the transition towards smart and intelligent infrastructure in the coming decade is expected to play a vital role in the development of new-age molded case circuit breakers.

Author Name(s) : Marpu Vinod| Prakhar Jain | Eswara Prasad
Frequently Asked Questions?

Increase in demand for electricity and need for reliable power delivery and growth in building and construction and infrastructure activities across the globe are the key factors boosting the Molded case circuit breaker market growth.

Power utilities is projected to increase the demand for Molded case circuit breaker Market.

Havells India Ltd, Rockwell Automation Inc., Eaton Corporation, Siemens AG, Fuji Electric Co Ltd., Schneider Electric, General Electric, ABB Ltd., JSL Electric Corporation, Toshiba Corporation, Chint Group, and Powell Industries Inc.

The market value of Molded case circuit breaker in 2031 is expected to be $15.5 billion.

The global molded case circuit breakers market analysis 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 case. On the basis of 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.

Increase in investment on research and developments to meet future requirements of safety is the Main Driver of Molded case circuit breaker Market.

The outbreak of the pandemic has created awareness among the people regarding the advantages of molded case circuit breaker which has driven the growth of the global molded case circuit breakers market.

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Molded Case Circuit Breakers Market

Global Opportunity Analysis and Industry Forecast, 2021-2031