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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Molded Case Circuit Breakers Market
Request Now !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
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.
Key Market Segments
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Key Market Players
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