Molded Case Circuit Breaker (MCCB) Market to Expand with a CAGR of 5.4% from 2017 to 2025
According to a new market research report published by Brisk Insights“Molded Case Circuit Breaker (MCCB) Market (Type – Miniature Circuit Breaker (MCB) and Molded Case Circuit Breaker (MCCB); Current Rating – 0-75A, 76A-250A, 251A-1000A and More than 1000A; End-user – Transmission & Distribution, Industrial Manufacturing & Processing, Commercial Construction & Infrastructure, Residential Construction, Power Generation, Transportation) - Growth, Future Prospects and Competitive Analysis, 2017 - 2025”, the global molded case circuit breaker market to expand with a CAGR of 5.4% from 2017 to 2025, to cross the US$ 10 Bn mark by 2025.
Market Insights
Molded case circuit breaker (MCCB) refers to an electromagnetic device used for electrical protection of different devices and electrical loads. These form among the most crucial components in any electrical circuit as they prevent electricity overloading thereby avoiding damage to electrical wiring, devices and electrical fire outbreak. The overall MCCB market is majorly driven by the ever-rising electricity consumption and continued modification in electricity infrastructure. In addition, growing inclination towards using more reliable electricity protection devices is another major factor supporting the penetration of MCCB and MCB over conventional fuse wires.
Global demand for electricity is rising at an alarming rate owing to factors such as increasing industrialization and population growth. According to the International Energy Agency, the electricity consumption worldwide is projected to hit 30,000 terawatt hours (TWh) by 2030. This would create substantial opportunities for the adjacent markets such as electrical equipment and protection devices. Subsequently, with the constant rise in electricity production and consumption, the demand for MCCBs and MCBs would continue to rise in the following years.
Browse the full report at https://www.briskinsights.com/report/molded-case-circuit-breaker-mccb-market
The overall MCCB market is segmented on the basis of type, current rating, end-users and geographic regions. On the basis of type, the market is segmented into molded case circuit breaker (MCCB) and miniature circuit breakers (MCB). As of 2016, the market is led by the MCCB segment contributing to nearly sixty percent of the total market revenue. The most significant difference between MCCB and MCB is the high current rating of MCCBs ranging more than 1,000A, making them suitable for heavy applications. Since industry accounts for nearly forty percent of the total electricity consumption worldwide, the MCCB segment would continue to dominate the market throughout the forecast period.
The market is further categorized on the basis of end-user into transmission & distribution, industrial manufacturing & processing, power generation, residential construction, commercial construction & infrastructure and transportation. On the basis of geographic regions, the market is classified into North America, Europe, Asia Pacific and rest of the world (RoW). Currently, Asia Pacific dominates the overall MCCB market and is projected to continue expanding with the highest growth rate during the forecast period.
The overall market is relatively consolidated in nature with top five players contributing to more than fifty percent of the total market revenue. Some of the major players operating in the market include ABB Ltd., Siemens AG, Alstom SA, Toshiba Corporation, Schneider Electric SE, Mitsubishi Electric Corporation and others.