Global MCB and MCCB Market Overview
MCBs and MCCBs are the electromagnetic devices that automatically switch off the electrical circuit in order to save the home appliance in case of short circuit in the event of an abnormal condition, such as an overload of current and a fault in electrical component. It is used in low voltage electrical network. The global MCB and MCCB market is estimated to expand at 7.02% CAGR during the forecast period.
Global demand for electricity is increasing on a large-scale owing to factors such as increasing industrialization and population growth. MCB (Miniature Circuit Breaker) and MCCB (Molded Case Circuit Breaker) are the two type of electrical circuit breaker used for electric protection of different devices and electrical loads.
MCB is general used in home electrical applications to withstand rated current as high as 100 amperes. MCCB is a heavier duty circuit breaker that can withstand up to 2,500 amperes and is also used for overload detection and fault protection.
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According to the International Energy Agency (IEA), the electricity consumption worldwide is projected to hit 30,000 terawatt hours (TWh) by 2030. This would create opportunities for the adjacent markets such as electrical equipment and protection devices. Additionally, with the constant rise in electricity production and consumption, the demand for MCCBs and MCBs would continue to rise during the forecast period. One of the major restraints for the global MCB and MCCB market is the inconsistencies of these two devices such as vulnerability to heat and slow tripping.
Leading Players
The key players of the global MCB and MCCB market are ABB (Switzerland), General Electric (US), Rockwell (US), Siemens (Germany), WEG (Brazil), Schneider Electric (France), Legrand (France), Fuji Electric (Japan), Eaton (Ireland), Huayi Electric (China), Hitachi (Japan), Havells (India), and Chint Group (China), among others.
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Industry Segmentation
The MCB and MCCB market has been segmented based on rated current type into 0-20A, 21-75A, 76-250A, 251-800A, Above 800A).
Among these types, 76-250A is the fastest growing segment in the MCB and MCCB market as the MCB and MCCB
A segment is estimated to dominate the market during the forecast period due to its wide area of application in end-use industries, such as transmission and distribution (T&D) industries, residential and commercial buildings, manufacturing and process industries, and automotive industries.
On the basis of end-use, the market is segmented as power generation, transmission and distribution, residential and commercial, manufacturing and process industries, transportation, and others (agriculture and defense). Residential & commercial segment is expected to dominate the market during the forecast period due to easy handling and quick tripping characteristics of MCB and MCCB in residential and commercial buildings.
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