Molded Case Circuit Breakers Market to Gain Significant Value by 2025
The global molded case circuit breakers market is forecasted to be extensively advantaged by rising applications in key projects such as the largest floating photovoltaic power plant test-bed in the world. This 1 MW floating photovoltaic power plant test-bed in Singapore measuring 1 ha will feature ABB technologies, including low-voltage molded case and miniature circuit breakers to guard electrical circuits on water.
An electrical circuit system recognizes circuit breakers as one of the most vital components for its proper function. Circuit breakers find a crucial and an essential application during electric current overloads and short circuits–protecting electronic loads and devices. In a molded insulating material, a molded case circuit breaker could embody the complete enclosure as an electrical protection device. A miniature circuit breaker revealingly differs from a molded case circuit breaker by the current rating supported. While a miniature circuit breaker can operate in electrical circuits possessing up to a 100 A current rating, a molded case circuit breaker can do well even in an over 1,000 A (normally 2,500 A) current rating.
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Leading providers such as Eaton typically manufacture molded case circuit breakers that could be installed in a variety of end uses such as bus duct plug-in units, individual enclosures, combination starters, control panels, and motor control centers. Such products are expected to be engaged for various applications such as military, mining, industrial, commercial, and alternative energy. Until 2016, top players had taken to new product development that constituted a larger percentage of all developments as a go-to business strategy.
Molded Case Circuit Breakers Market: Overview
The molded case circuit breakers market is on the path of rapid growth, powered by ongoing industrialization and urbanization. Their growing application in a wide range of industries has significantly benefited the market and companies have been increasingly recognizing the immense potential this market holds.
The market can be bifurcated into molded case circuit breaker (MCCB) and miniature circuit breaker (MCB) on the basis of type. By way of rated current, the market can be categorized into 0A (ampere) to 20A, 21A to 75A, 76A to 250A, 251A to 800A, and above 800A. The key end users of molded case circuit breakers include transmission and distribution, infrastructure, transportation, manufacturing, and power generation.
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The report offers in-depth and sharp insights on the molded case circuit breakers market across the globe. The major factors boosting their adoption and those restricting their uptake have been clearly identified and assessed in the report and insightful recommendations on making the most of the latest market trends have been provided. The competitive landscape has been thoroughly scrutinized and the leading companies contributing to the overall revenue and demand in the molded case circuit breakers market have been profiled. Their growth strategies, financial performance over the years, recent developments in the field, and product portfolio have been discussed at length.
Molded Case Circuit Breakers Market: Trends and Opportunities
The global market for molded case circuit breakers is primarily fueled by fast-paced economic growth across sectors such as power, water, petrochemicals, and plastics, thereby driving the demand for these breakers across various application segments, such as manufacturing and process, transmission and distribution, commercial and residential infrastructure, transportation, and power generation. The demand for molded case circuit breakers is also rather high in the electronics industry. Growing focus on the efficient and reliable transfer of power, the development of innovative circuit protection solutions, a rise in urban energy conservation and rural electrification programs in several emerging economies, and the revival of the construction sector in many developed countries have also contributed significantly toward the expansion of the molded case circuit breakers market. In addition to this, the rising trend of decentralized power distribution is likely to offer immense scope for growth.
Contrary to this, the growth of the molded case circuit breakers market is limited owing to the high cost of raw materials. Moreover, slow tripping, vulnerability to heat, and other inconsistencies are proving to be a barrier for players.
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Molded Case Circuit Breakers Market: Regional Outlook
Geographically, the worldwide molded case circuit breakers market is divided into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Asia Pacific accounts for a considerable share in the international market thanks to the growing usage of molded case circuit breakers in the infrastructure and manufacturing sectors. The growth in this regional market is slated to be rapid owing to the thriving manufacturing and construction industries, especially in Southeast Asia. Another factor driving the demand for molded case circuit breakers is the rising demand for and capacity of power generation in countries such as India.
The Middle East is also an emerging market, thanks to the growing demand for electricity. This demand stems from factors such as rapid urbanization and industrialization, technological advancements, and economic growth. Construction and infrastructure projects in countries such as Dubai, Qatar, Kuwait, and Saudi Arabia spells a world of opportunity for those looking to invest in the MEA molded case circuit breakers market.
Companies mentioned in the report
Some of the top players competing in the global market for molded case circuit breakers are Siemens AG (Germany), General Electric (U.S.), Rockwell Automation, Inc. (U.S.), Eaton Corporation Plc. (Ireland), and Schneider Electric (France). In addition to the global market being increasingly competitive, the degree of rivalry in the regional markets for molded case circuit breakers is immensely high as well. Increasing R&D for the development of new technologies, mergers, partnerships, and acquisitions are some of the leading strategies adopted by players to stay ahead in the game.
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