The Global AC MCB Market size is expected to reach $3.2 billion by 2030, rising at a market growth of 5.3% CAGR during the forecast period.
AC MCB has a promising future since it is essential for power management and safety in industrial environments, hence, the industrial sector registered $536.3 million revenue in 2022. According to the International Monetary Fund, in 2022, worldwide industrial manufacturing expansion reached 4.4 percent. The United Nations Industrial Development Organization (UNIDO) reported that in May 2022, world industrial production resumed its upward trend and expanded at a rate of 3.2% yearly. Countries invest in developing transmission & distribution (T&D) infrastructure to meet the rising energy demand, mostly produced by the industrial sector.
Moreover, the International Energy Agency forecasted an 8% increase in energy investment to USD 2.4 trillion in 2022. Space constraints, arc quenching technology, and cheaper operating, as well as maintenance costs are just a few benefits of gas-insulated switchgear at high voltages. Some of the factors impacting the market are growing development of smart homes, more electrification initiatives globally, and occurrence of frequent operational failures in MCBs.
The smart home is a sophisticated environment that enables a variety of domestic activities. In the early days of smart homes, ideas like ubiquitous computing, home intelligence, ambient intelligence, as well as home automation were well-known. Hence, the growing adoption of smart homes propels the market's growth. The governments of emerging countries are implementing several measures to enhance the facilities for power distribution as well as electrification rates to meet the rising demand for power in rural and urban areas. As a result, increased electricity demand has accelerated the government's efforts to electrify numerous countries. This will lead to a rise in demand for products like AC MCB, which in turn is accelerating market growth.
However, Miniature circuit breakers' three primary failure modes are failures during operation, failures during misoperation, and failures during refuse operation. MCBs are designed to trip and interrupt the circuit when an abnormal condition, such as an overload or short circuit, occurs. Therefore, all these elements may hamper the expansion of the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Eaton Corporation PLC, ABB Group, Siemens AG, Schneider Electric SE, General Electric Company, Mitsubishi Electric Corporation, Legrand Group, Fuji Electric Co., Ltd., ALTECH Co., Ltd., and Zhejiang Sentai Electric Co., Ltd.
AC MCB has a promising future since it is essential for power management and safety in industrial environments, hence, the industrial sector registered $536.3 million revenue in 2022. According to the International Monetary Fund, in 2022, worldwide industrial manufacturing expansion reached 4.4 percent. The United Nations Industrial Development Organization (UNIDO) reported that in May 2022, world industrial production resumed its upward trend and expanded at a rate of 3.2% yearly. Countries invest in developing transmission & distribution (T&D) infrastructure to meet the rising energy demand, mostly produced by the industrial sector.
Moreover, the International Energy Agency forecasted an 8% increase in energy investment to USD 2.4 trillion in 2022. Space constraints, arc quenching technology, and cheaper operating, as well as maintenance costs are just a few benefits of gas-insulated switchgear at high voltages. Some of the factors impacting the market are growing development of smart homes, more electrification initiatives globally, and occurrence of frequent operational failures in MCBs.
The smart home is a sophisticated environment that enables a variety of domestic activities. In the early days of smart homes, ideas like ubiquitous computing, home intelligence, ambient intelligence, as well as home automation were well-known. Hence, the growing adoption of smart homes propels the market's growth. The governments of emerging countries are implementing several measures to enhance the facilities for power distribution as well as electrification rates to meet the rising demand for power in rural and urban areas. As a result, increased electricity demand has accelerated the government's efforts to electrify numerous countries. This will lead to a rise in demand for products like AC MCB, which in turn is accelerating market growth.
However, Miniature circuit breakers' three primary failure modes are failures during operation, failures during misoperation, and failures during refuse operation. MCBs are designed to trip and interrupt the circuit when an abnormal condition, such as an overload or short circuit, occurs. Therefore, all these elements may hamper the expansion of the market.
Type Outlook
Based on type, the market is characterized into Type B, Type C, and Type D. The Type B segment procured a considerable growth rate in the market in 2022. Type B makes trips 3 to 5 times the current at full load. Most Type B devices are employed in residential or light business settings where connected loads are predominantly lighting fixtures and home appliances with resistive elements. Additionally utilized for electrical devices like computers and PLC wiring with very low inrush loads. In such circumstances, the surge of current values is minimal.
Voltage Outlook
On the basis of voltage, the market is classified into low, medium, and high. The medium segment acquired the largest revenue share in the market in 2022. The ideal type of breaker to use is one with medium voltage. In contrast to other forms of breakers, MCBs of medium voltage types can also be operated manually. In addition, they can be controlled manually at levels below 600 volts since they can function at those levels. Medium voltage MCBs are easy to install, reliable, safe, and economical. They also offer ecologically friendly operation, automatic alignment, a simple mechanism, and control.End-use Outlook
By end use, the market is divided into residential, commercial, industrial, and utilities. The residential segment garnered a remarkable growth rate in the market in 2022. MCBs are perfect for utilization in residential applications since they are small, light, and require less power. The residential segment is anticipated to expand significantly over the next years, partly due to increased residential structures throughout many different geographic areas. They can be used to safeguard specific appliances, like dishwashers or washing machines, as well as whole home areas, like the kitchen or bathroom.Regional Outlook
Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured the highest revenue share in the market in 2022. The region's expansion can be attributed to commercial endeavors, industries, and infrastructure developments. Every manufacturing and industrial facility uses a different type of electrical switch because the Asia Pacific region is the world's center for manufacturing. The growth is primarily due to the increase in demand for electrical motor protection devices across a range of industrial applications, which is common in emerging economies like China, India, and Taiwan along with other Southeast Asian countries.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Eaton Corporation PLC, ABB Group, Siemens AG, Schneider Electric SE, General Electric Company, Mitsubishi Electric Corporation, Legrand Group, Fuji Electric Co., Ltd., ALTECH Co., Ltd., and Zhejiang Sentai Electric Co., Ltd.
Strategies Deployed in the Market
- Apr-2023: ABB introduced ABB S300 P Industrial MCB, the latest industrial miniature circuit breaker. The launched product upgrades the very basic component of the modern electrical system, enhancing performance, efficiency, safety installation, and information accessibility.
- Jul-2022: Eaton took over the circuit breaker business of Jiangsu Huineng Electric Co., Ltd. (Huineng), a company that is engaged in manufacturing and commercializing low-voltage circuit breakers across China. This acquisition broadens Eaton's presence to renewable energy, utility, industrial, and commercial building customers in the quickly emerging Chinese market.
- May-2022: Schneider Electric launched SureSeT MV switchgear, the advanced solution in the North American market. The designed solution would address customers' growing demand for operational efficiency and space optimization.
- Feb-2022: ABB announced the launch of 3 kA SR200T Miniature Circuit Breakers (MCBs). The product launch would serve the residential and light commercial markets, both identified by the government as important areas in terms of infrastructure development.
- Dec-2021: Huanyu High-tech, a joint venture of Eaton and Huanyu announced the launch of the HUYU range of low-voltage circuit protection solutions, that are developed to help businesses and households meet the emerging requirement for safe, reliable, and efficient power.
- Feb-2021: Legrand India unveiled Myrius Next Gen, the latest range of wiring devices. The launch aims to create value and solidify Legrand's presence in the premium segment with its state-of-the-art technology. The product range launched is targeted at the commercial and residential segments with also a focus on builders, electricians, architects, retailers, consultants, contractors, developers, and system integrators.
- Jan-2021: ABB India released Formula DIN-Rail, a comprehensive range of Miniature Circuit Breakers (MCBs), Residual Current Circuit Breakers (RCCBs), and Isolators for the electrical retail market. The latest offerings with its modern design offer optimum protection to electrical circuits from potential damages caused by short circuits, earth leakages, and overload.
- Feb-2020: Eaton announced a joint venture with Abunayyan Holding, a company engaged in trading, manufacturing, servicing, and investing in water, oil, gas, and power markets in the Kingdom of Saudi Arabia and the Gulf countries. The Joint Venture - Huanyu High-tech. The Joint Venture aims to produce and service low- and medium-voltage switchgear across the Middle East.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Type D
- Type C
- Type B
By Voltage
- Medium
- High
- Low
By End-use
- Utilities
- Industrial
- Commercial
- Residential
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Eaton Corporation PLC
- ABB Group
- Siemens AG
- Schneider Electric SE
- General Electric Company
- Mitsubishi Electric Corporation
- Legrand Group
- Fuji Electric Co., Ltd.
- ALTECH Co., Ltd.
- Zhejiang Sentai Electric Co., Ltd
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 4. Global AC MCB Market by Type
Chapter 5. Global AC MCB Market by Voltage
Chapter 6. Global AC MCB Market by End Use
Chapter 7. Global AC MCB Market by Region
Chapter 8. Company Profiles
Companies Mentioned
- Eaton Corporation PLC
- ABB Group
- Siemens AG
- Schneider Electric SE
- General Electric Company
- Mitsubishi Electric Corporation
- Legrand Group
- Fuji Electric Co., Ltd.
- ALTECH Co., Ltd.
- Zhejiang Sentai Electric Co., Ltd
Methodology
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