Selbyville, Delaware, May 31, 2023 (GLOBE NEWSWIRE) --
Molded Case Circuit Breaker Market is expected to cross a valuation of USD 7.8 billion by 2032, according to the latest research report by Global Market Insights Inc.
The MCCB industry has witnessed significant growth and evolution in recent years. MCCBs are essential components of electrical distribution systems, providing protection against over currents and short circuits. They find extensive application in industrial, commercial, and residential sectors, ensuring the safety and reliability of electrical installations.
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Increasing emphasis on electrical safety regulations and the need for reliable protection devices has driven the molded case circuit breaker market demand. Additionally, the rapid expansion of industries and infrastructure development projects globally have bolstered business growth. Furthermore, advancements in MCCB technology, such as improved trip units, enhanced braking capacities, and increased operational efficiency, have contributed to the market expansion.
Wide-scale application of below 500 A rating molded case circuit breaker
The demand for < 500 A rated molded case circuit breaker will rise by 2032. MCCBs with a rating below 500 A is a widely used protective device in electrical distribution systems. These MCCBs offer reliable overcurrent & short-circuit protection for a variety of applications in industrial, commercial, and residential settings. The demand for MCCBs with ratings below 500 A is driven by the need to safeguard electrical circuits and equipment from damage caused by excessive current flow. These breakers are designed to interrupt the circuit when an overload or short circuit occurs, preventing potential hazards such as electrical fires and equipment failures.
Rise in the demand for MCCBs in the commercial application
Commercial molded case circuit breakers market will witness significant growth from 2023 to 2032. Molded case circuit breakers (MCCBs) have widespread commercial use in various industries and establishments. They are employed to protect electrical systems, equipment, and personnel from the risks associated with over currents and short circuits. MCCBs are commonly installed in commercial buildings, offices, retail spaces, hotels, hospitals, data centers, and manufacturing facilities. With their reliable performance, adjustable trip settings, and high breaking capacities, MCCBs offer effective protection and are integral components in commercial electrical distribution systems, providing peace of mind and reliability to businesses and their operations.
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Rising investments in renewable energy projects across North America
North America molded case circuit breaker industry size will experience significant growth in 2032. Robust industrial infrastructure, coupled with strict safety regulations, is driving the product demand in various applications. One major element contributing to the market's growth is the ongoing modernization of the aging electrical infrastructure in North America. Upgrades and replacements of outdated systems require reliable protection devices like MCCBs to ensure the safety and efficiency of electrical distribution networks. Additionally, the rising investments in renewable energy projects, such as wind and solar farms, are bolstering the demand for MCCBs in the region.
Competitive landscape of the global molded case circuit breaker market
Some of the leading players in the industry landscape are Fuji Electric FA Components & Systems Co., Schneider Electric, ABB, Eaton, Rockwell Automation, Legrand, Mitsubishi Electric Corporation, Ltd., CNC ELECTRIC GROUP CO., LTD., Hitachi, Ltd., and Siemens.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Molded case circuit breaker industry 360º synopsis, 2019 – 2032
2.2 Business trends
2.3 Rated current trends
2.4 End user trends
2.5 Regional trends
Chapter 3 Molded Case Circuit Breaker Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Vendor Matrix
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Refurbishment & retrofit of existing grid infrastructure
3.2.1.2 Grid stability & security of supply concerns
3.2.1.3 Expansion of smart grid networks
3.2.2 Industry pitfalls & challenges
3.2.2.1 Volatile raw material prices
3.3 Growth potential analysis
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.6 Porter's Analysis
3.7 PESTEL Analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
