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The technology has been evolving over the years to match the changing consumer expectations. The companies are profoundly tapping new technologies to serve increasingly sophisticated customers conditioned by other industries to expect a high-tech digital experience. Molded case circuit breaker (MCCB) 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 switching a circuit on and off. The wide range of current ratings available from MCCB’s allows them to be used for a wide variety of applications. Therefore, MCCB is a fundamental component for electrical protection for high-current applications or whenever adjustable trip settings are required. Several entities are focussing on ensuring the safe and reliable operation by adopting various safety devices. Consequently, utility companies, small and medium scale enterprise, and technological development in smart and microgrid solution is expected to underpin the growth of the molded case circuit breaker market.
The segmentation of the molded case circuit breaker is done based on rated current and end-user. Rated Current segment is divided into 0-20A, 21A-75A, 76A-250A, 251A-800, and above 800A. 75-250A segmented is foreseeable rapid growth owing to the wide application in industries for motor protection and lighting duties. Based on end-user, the utility segment is expected to dominate in the MCCB market.
Key Market Driver -
Key Market Driver – Elevated demand for safety equipment and rising consumer expectation
Key Market Restraint -
Key Market Restraint – Expensive and vulnerable to heat
An electric circuit is intact by installing various safety devices to prevent damage due to overload, short circuits, and electrical faults. Rising demand from residential and commercial consumers for ensuring safe and reliable operation of electrical circuits is projected to boost the molded case circuit breaker market. Major investment by giant companies to meet the rising consumer expectation in a bid to protect against overload or short circuits is expected to augment the molded case circuit breaker market.
A molded case circuit breaker is used when there is a requirement of precise operation as it is quite expensive as compared with fuse. Vulnerability to heat and slow tripping features are among the restraints for the molded case circuit breaker market.
Some of the leading companies in the molded case circuit breaker are ABB, Schneider Electric, Fuji Electric Co., Ltd., Legrand, Hitachi Industrial Equipment Systems Co. Ltd., Rockwell Automation, Siemens, GE, Eaton, Toshiba, Mitsubishi Electric Automation, Inc., Galco Industrial Electronics, Maxge Electric, and Shanghai Liangxin Electrical Co., Ltd.
The global molded case circuit breaker market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is foreseeable to grow at a concrete pace owing to transformation in power business and profound change driven by technological and competitive forces. Customer interface technologies may be the most visible aspect of the technological enhancement of the utility business. Electric power industries are extensively investing in more advanced technology for improving operational efficiency to meet industry standards. Simultaneously increasing investment in smart grid, microgrid, and expanding transmission and distribution network is expected to drive the molded case circuit breaker market in North America. European countries are adopting more advanced technology to attain consumer expectations.
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Increasing investment in railway transportation, expansion of transmission and distribution network, rising capital expenditure in clean energy technology, and smart grid solution is projected to augment the demand for molded case circuit breakers in Europe. Asia Pacific continues to boast some of the world’s highest levels of GDP growth, the most optimistic consumers, and solid fast-moving consumer goods (FMCG). Despite the potential concerns of the U.S.- China trade tensions, the GDP growth remains above in China, India, Philippines, and Vietnam. Consequently, countries are consistently stressing on energy security by investing in conventional and renewable energy sources, which would elevate the growth of the molded case circuit breaker market in APAC. Middle East countries such as UAE, Saudi Arabia, Qatar, and Bahrain, among others, are extending their investment in exploration activities that would boost the molded case circuit breaker market.
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