Molded Case Circuit Breakers Market Forecasts from 2023 to 2028

The global molded case circuit breakers market is estimated to grow at a CAGR of 3.42% during the forecast period.

Molded Case Circuit Breakers are used to safeguard electrical circuits from overcurrent. They are made to be a more effective and compact replacement for conventional circuit breakers. In low-voltage power distribution networks, MCCBs are frequently employed to protect electrical machinery such as transformers, motors, and generators. The contacts, trip mechanism, and thermal, and magnetic elements are all housed inside the molded plastic case of an MCCB. The contacts are made to open and close to stop or permit current flow in the circuit.

MARKET DRIVERS:

Increasing use of below 500 A rating MCB

MCCBs are a common protection device in electrical distribution networks with ratings under 500 A. For a variety of applications in commercial, residential, and industrial environments, these MCCBs provide dependable overcurrent and short-circuit protection. To protect electrical circuits and equipment from harm brought on by excessive current flow, MCCBs with ratings under 500 A are in high demand. These breakers are made to cut off the circuit in the event of an overload or short circuit, eliminating the risk of equipment failure and electrical fires which is increasing the molded case circuit breakers market share.

Rising use of the commercial applications to drive the demand for molded case circuit breakers.

The commercial molded case circuit breakers market will expand significantly. Molded case circuit breakers (MCCBs) are frequently used commercially in a variety of organizations and industries. They are used to safeguard workers, equipment, and electrical systems from the dangers of overcurrent and short circuits. Commercial structures, offices, retail locations, hotels, hospitals, data centers, and manufacturing facilities frequently have MCCBs installed. MCCBs offer consistent performance, customizable trip settings, and large breaking capabilities. They are essential parts of commercial electrical distribution systems and offer effective protection, giving businesses the security and dependability of their operations.

Increasing industrial applications to raise the market demand.

Due to factors like a rising distributed power generation share in total electricity generation, rising clean energy demand, and an increase in the use of large and expensive electrical equipment in the industrial sector, the industrial sector is anticipated to dominate the moulded case circuit breaker market in the forecast period. The energy-intensive manufacturing industries that produce basic chemicals, iron and steel, food, metals that are not ferrous, non-metallic minerals, refinery products, and paper account for the majority of the energy used in the industrial sector. During the projected period, energy-intensive industries are anticipated to account for half of the industrial sector's energy consumption.

Technological advancements to further fuel the market for molded case circuit breakers.

Over time, technology has changed to keep up with shifting consumer expectations. Businesses are heavily utilizing new technology to cater to increasingly affluent customers who have been trained by other sectors to demand a high-tech digital experience. Electrical protection equipment known as molded case circuit breakers (MCCB) can be used with a variety of voltages and frequencies. When the load current exceeds the capacity of small circuit breakers, it is frequently used. MCCBs are highly helpful for switching a circuit on and off as well as protecting against overload and electrical problems. MCCBs can be utilized for a number of applications due to the wide range of current ratings they offer.

MARKET RESTRAINTS:

High cost and electric stability to hinder the market growth.

Increasing the reliability of the electricity supply will decrease the need for circuit breakers, but there are some minor factors that restrain the of molded case circuit breakers market, such as the high cost of delayed tripping and the breaker's operating characteristics being dependent on ambient temperature.

Asia Pacific is expected to be the significant molded circuit breakers marketplace globally.

The Asia Pacific region is anticipated to lead the Molded case circuit breakers market during the projected period. Due to its rapid urbanization, industrialization, and population growth, Asia-Pacific is one of the world's areas with the quickest rates of growth. The need for a reliable power supply is therefore great. Many nations are making investments in the transmission and distribution of renewable energy to meet these demands. Furthermore, China is expected to be the leading single hydropower market throughout 2030, and accounting for 40% of the global capacity growth as forecasted by the International Energy Agency (IEA).Over 259, 000 MW of new coal plants are already under construction in China, which makes up more than one-third of the world's planned coal plant capacity.

Market Developments:

• In January 2021, For the $250 million electrical retail sector, ABB India introduced Formula DIN-Rail, a full line of Miniature Circuit Breakers, Continuous Current Circuit Breakers, and Isolators. According to the company's regulatory filing to exchanges, the ABB Formula DIN-Rail portfolio's design offers electrical circuits the best protection against potential losses brought on by overload, short circuits, and earth leakages in buildings.
• In July 2022, Siemens introduced 3VA UL Large Frame Molded Case Circuit Breakers. The new 3VA UL MCCB will follow IEC and UL standards and be offered in 1, 200A and 1, 600A frame sizes. The frame size designates the breaker's maximum continuous current capacity and identifies its physical size. Both variants of the thermal-magnetic and electrical trip units were available for the new frame sizes. The bimetal thermal device that constitutes the thermal trip unit triggers the release of a circuit breaker when the specified current value is exceeded.
• In November2022, Schneider Electric announced the release of its updated PowerPacT Molded Case Circuit Breaker (MCCB) series. The more capable and dependable variety of molded case circuit breakers that comply with several standards enables its clients to improve operational effectiveness and deliver greater reliability. The revised PowerPacT MCCB has the features like the LED locator in an MCCB that offers a visual light indication when a breaker needs to be inspected, aiding in improving safety and saving customers' time by making it easier for them to discover the issue and jump right into troubleshooting.

Segmentation:

By Type

• Molded Case
• Miniature

By Rated Current

• 0A – 75A
• 75A – 250A
• 250A – 800A
• Above 800A

By End-User

• Power Utilities
• Industrial
• Residential and Commercial
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Indonesia
• Thailand
• Others