The global MCB and MCCB market is estimated to expand at ~7.02% CAGR during the forecast period. MCB (Miniature Circuit Breaker) and MCCB (Molded Case Circuit Breaker) are the two type of electrical circuit breaker used for electric protection of different devices and electrical loads. MCB is generall used in home electrical applications to withstand rated current as high as 100 amperes. MCCB is a heavier duty circuit breaker that can withstand up to 2,500 amperes and is also used for overload detection and fault protection.
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Global demand for electricity is increasing on a large-scale owing to factors such as increasing industrialization and population growth. According to the International Energy Agency (IEA), the electricity consumption worldwide is projected to hit 30,000 terawatt hours (TWh) by 2030. This would create opportunities for the adjacent markets such as electrical equipment and protection devices. Additionally, with the constant rise in electricity production and consumption, the demand for MCCBs and MCBs would continue to rise during the forecast period. One of the major restraints for the global MCB and MCCB market is the inconsistencies of these two devices such as vulnerability to heat and slow tripping.
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Global MCB and MCCB market has been segmented based on type, rated current, end-user, and region. Based on type, the market is classified into miniature circuit breaker and molded case circuit breaker. Molded case circuit breaker is leading the market and has the largest market share, mainly due to its wide application in industrial sector and it can withstand high rated current ranging more than 1000A. The global MCB and MCCB market is further segmented based on end-user, including T&D, manufacturing & process, power generation, infrastructure, and transportation, among others. T&D segment is expected to grow at the fastest rate as it is primarily driven by modernization of ageing infrastructure in countries such as US, Canada, and UK, among others. and growing construction activities in countries such as India and China.
The key players of global MCB and MCCB market are ABB (Switzerland), General Electric (US), Rockwell (US), Siemens (Germany), WEG (Brazil), Schneider Electric (France), Legrand (France), Fuji Electric (Japan), Eaton (Ireland), Huayi Electric (China), Hitachi (Japan), Havells (India), and Chint Group (China), among others.
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