Global Low Voltage Circuit Breaker Market Size Analysis - Market Share, Forecast Trends and Outlook Report (2024-2032)

Global Low Voltage Circuit Breaker Market Overview

Increasing investments in infrastructural development activities are surging the requirement for reliable systems, including low voltage circuit breakers, to safeguard electrical systems against faults such as short circuits, overloads, and electrical fires. With the rising development of smart cities that rely on high-density power distribution systems, the demand for low voltage circuit breakers to help monitor and control electrical systems is growing. In August 2024, the Indian government approved the development of 12 smart cities with an investment of INR 286.02 billion to create jobs and attract investments from large industries.

The low voltage circuit breaker market development can be attributed to the increasing renewable energy generation and the surging installation of renewable energy sources like solar and wind energy. Low voltage circuit breakers tailored for renewable energy installations are gaining traction as more homes and businesses adopt clean energy solutions. In 2023, annual renewable capacity additions surged by nearly 50% to around 510 gigawatts (GW). By 2028, renewable energy sources represented more than 42% of global energy generation, with wind and solar PV share doubling to 25%.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Low Voltage Circuit Breaker Market Trends

Rising Trend of Miniaturisation of Circuit Breakers

The growing trend towards space-saving, efficient, and versatile electrical protection systems, especially in commercial and residential spaces, is driving the low voltage circuit breaker market development. Compact and miniature low voltage circuit breakers can handle higher current capacities, enable multiple breakers to be installed together in a small space, and lower the overall footprint of electrical panels. Manufacturers are increasingly deploying more efficient and newer materials such as ceramics, high-performance plastics, and composite materials to develop high-performance compact circuit breakers with enhanced durability. The integration of advanced safety features such as overload protection, arc fault protection, and short-circuit detection in miniaturised breakers to improve the overall safety of electrical installations is providing lucrative opportunities for the market expansion.

Global Low Voltage Circuit Breaker Market Drivers

Increasing Adoption of Smart and Digital Circuit Breakers

The development of smart circuit breakers that can monitor the voltage, current, and frequency data of electrical systems in real-time is aiding the growth of the low voltage circuit breaker market. Such circuit breakers also enable remote control of electrical circuits through centralised control systems and mobile apps, making it easier for facility operators or building managers to perform operations like adjusting settings, turning circuits on/off, and diagnosing faults from any location. Moreover, digital circuit breakers can continuously collect and analyse data and boast predictive maintenance capabilities, preventing unplanned downtime, and damage to sensitive equipment, and reducing the risk of circuit failures. The increasing popularity of Building Management Systems (BMS) and smart grids is boosting the demand for smart circuit breakers to support demand-response programmes, better manage electricity distribution, optimise energy consumption, and facilitate real-time monitoring of building-wide electrical infrastructure.

Global Low Voltage Circuit Breaker Market Growth

Growing Focus on Sustainability

The increasing focus on sustainability is shaping the low voltage circuit breaker market trends and dynamics. Low voltage circuit breakers, by improving the energy efficiency of electrical systems and preventing faults, short circuits, and overloads, contribute to sustainability, ensuring the efficient use of energy across industrial, residential, and commercial domains. Manufacturers are increasingly adopting eco-friendly materials such as non-toxic chemicals and recyclable plastics in the manufacturing of low voltage circuit breakers. They are also adopting energy-efficient manufacturing processes, including reducing energy consumption during production, improving overall resource efficiency, and implementing renewable energy sources in factories, to conserve natural resources and reduce emissions. The development of low voltage circuit breakers that are easy to disassemble and recycle at the end of their lifecycle to promote a circular economy is propelling the market.

Market News

September 2024

Orient Electric Limited launched the Stella Neo range of miniature circuit breakers (MCBs) in the mass premium segment, expanding its Switchgear portfolio and strengthening its position in India’s fast-growing low-voltage switchgear segment. The MCB offers improved reliability and electrical safety and boasts improved performance, ease of installation, safety, and durability.

March 2024

Halonix Technologies announced the launch of its Switchgear category, the 'SURE MCB Series'. The advanced circuit breakers are engineered with reliability, safety, and assurance and offer reliable protection against short circuits for the commercial, industrial, and residential sectors.

Global Low Voltage Circuit Breaker Market Dynamics

The low voltage circuit breaker market is experiencing significant growth due to several key trends. The miniaturisation of circuit breakers is driving the demand for compact, efficient, and versatile electrical protection systems. These breakers, made from advanced materials like ceramics and high-performance plastics, allow for higher current capacities in smaller spaces, enhancing electrical panel efficiency and safety. The rise of smart and digital circuit breakers is another major trend, enabling real-time monitoring, remote control, and predictive maintenance to prevent faults and optimize energy use. The integration of these breakers with Building Management Systems (BMS) and smart grids is boosting the market growth. Additionally, the increasing focus on sustainability is pushing manufacturers to adopt eco-friendly materials, energy-efficient manufacturing processes, and circular economy practices. These innovations contribute to improved energy efficiency, reduced emissions, and a more sustainable approach to electrical protection across commercial, residential, and industrial sectors.

Global Low Voltage Circuit Breaker Market Restraints

Low voltage circuit breakers typically have high initial investment costs, and their installation requires specialised labour, which can deter their adoption among residential customers and small businesses. As these breakers are dependent on materials like plastic, copper, and metal, supply chain disruptions, raw material shortages, fluctuations in raw material prices, and trade barriers may impede the market. The growth of the low voltage circuit breaker industry can also be challenged by the growing popularity of simpler and cost-effective electrical protection devices, including surge protection devices, fuels and overload protectors. The development of electronic circuit protection systems and fuse-less protection solutions can also limit the demand for low voltage circuit breakers, especially in applications requiring lightweight and compact solutions.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Low Voltage Circuit Breaker Industry Segmentation

The EMR's report titled "Global Low Voltage Circuit Breaker Market Report and Forecast 2024-2032" offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Miniature Circuit Breaker (MCB)
• Moulded Case Circuit Breaker (MCCB)
• Air Circuit Breaker

Market Breakup by Application

• Energy Allocation
• Shut-off Circuit
• Others

Market Breakup by End User

• Residential
• Commercial
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Global Low Voltage Circuit Breaker Market Share

By Type Insights

Miniature circuit breakers (MCBs), with current ratings between 1A to 100A, are small-sized and compact breakers that are designed to protect electrical circuits from overloads and short circuits. Due to their ease of installation and low maintenance, MCBs are typically employed in residential and commercial settings. In February 2022, ABB Electrification launched its new range of 3 kA SR200T Miniature Circuit Breakers (MCBs) to provide protection and control against overload and short circuit conditions in the light commercial and residential sectors in South Africa.

Moulded case circuit breakers (MCCBs), with current ratings of 100A to 2500A, are designed to protect larger power circuits in sectors like manufacturing, power, and heavy commercial. Capable of protecting against both short circuits and overloads, MCCBs offer enhanced flexibility and adjustable trip settings.

Meanwhile, the rising demand for air circuit breakers (ACBs) in high-current and heavy-duty applications and critical sectors such as healthcare and data centres is providing lucrative low voltage circuit breaker market opportunities. Key players are developing innovative ACBs that support software-based engineering planning, digital testing and monitoring, and seamless integration in automation and IoT systems. In July 2023, Siemens launched two new versions of its innovative Sentron 3WA Power Circuit Breakers (ACBs) that are designed to improve ease of use, reliability, and digitalisation during integration into existing systems.

By Application Insights

Low voltage circuit breakers are used in energy allocation applications to support the efficient distribution of electrical energy across facilities, buildings, or industrial systems. The increasing popularity of smart meters and grids is boosting the demand for circuit breakers in energy allocation to manage and balance energy distribution in real-time.

Shut-off circuits employ low voltage circuit breakers to protect a system and its components from damage caused by electrical faults, excessive current, and fire hazards. The development of advanced circuit breakers with intelligent shut-off capabilities to provide remote monitoring and control and automatically disconnect circuits during faults is driving the low voltage circuit breaker market expansion.

By End User Insights

In the residential sector, low voltage circuit breakers play an essential role in preventing electrical fires caused by short circuits and overcurrents. The growing trend of smart homes and the rising popularity of automated electronic systems are surging the demand for advanced circuit breakers with features like remote control and monitoring. As of January 2022, nearly 49.2% of German households used over four connected devices.

The rising demand for circuit breakers that can handle high loads of commercial buildings such as retail spaces, offices, and industrial facilities is boosting the low voltage circuit breaker market revenue. The introduction of stringent building codes and safety regulations is surging the demand for high-quality circuit breakers in commercial spaces.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Low Voltage Circuit Breaker Market Regional Insights

North America Low Voltage Circuit Breaker Market Overview

The low voltage circuit breaker demand growth in North America is being fuelled by the growing popularity of smart grids, smart homes, and smart buildings in the United States and Canada. This is boosting the demand for intelligent circuit breakers that can provide automated fault detection, real-time monitoring, and remote control. In 2022, electrical utilities boasted nearly 119 million smart metering infrastructure, with residential customers representing 72% of overall electric meter installations. With the growing focus on energy management in the region, circuit breakers designed to optimise energy consumption and ensure minimal losses are gaining popularity.

Europe Low Voltage Circuit Breaker Market Dynamics

Europe has one of the most stringent regulations regarding sustainability in the world, which is surging the demand for energy-efficient low voltage circuit breakers that contribute to energy savings. The growing adoption of renewable energy sources such as wind, solar, and biomass is driving the requirement for low voltage circuit breakers that can protect renewable energy systems from electrical faults and ensure their safe integration into the grid. In 2023, renewable energy accounted for nearly 24.1% of the EU’s overall energy usage. In the forecast period, the low voltage circuit breaker market development in Europe is expected to be fuelled by the introduction of stringent standards aimed at preventing accidents and fires caused by electrical faults.

Asia Pacific Low Voltage Circuit Breaker Market Trends

Rapid industrialisation and urbanisation, especially in countries such as China and India, are bolstering the low voltage circuit breaker market expansion. By 2050, the urban population in Asia is projected to grow by 50%, an additional 1.2 billion individuals. Increasing investments in large infrastructure projects in the healthcare, transportation, and commercial sectors are also fuelling the demand for modern electrical safety solutions, including low voltage circuit breakers. For instance, Vietnam allocates 5.7% of its Gross Domestic Product (GDP) for infrastructural development. Besides, the robust growth of the infrastructure, manufacturing, and automotive sectors in the region is driving the demand for robust electrical protection solutions, including low voltage circuit breakers.

Competitive Landscape

Key low voltage circuit breaker market players are developing smart circuit breakers integrated with features like real-time monitoring, IoT, and remote control to provide data for energy management, predictive maintenance, and fault diagnosis while protecting electrical systems from overloads and faults. They are also offering circuit breakers that protect renewable energy systems to ensure reliable power distribution.

Key Industry Players

Siemens AG

Siemens AG, founded in 1847 and headquartered in Munich, Germany, is a leading technology company, with a focus on automation, smart infrastructure, digitisation, and electrification. Its product portfolio includes low voltage circuit breakers, smart infrastructure solutions, industrial robots, automation software, mobility and transportation solutions, and healthcare and medical technology, among others.

ABB Ltd.

ABB Ltd., headquartered in Zurich, Switzerland, is a leader in digitalisation, automation, and electrification. Founded in 1988, the company serves a diverse range of industries, such as transportation, robotics, infrastructure, utilities, manufacturing, and industrial automation, among others. It actively partners with other companies to fuel innovations in digital transformation, automation, and electrification.

Schneider Electric Company

Schneider Electric Company, founded in 1836 and headquartered in France, is a prominent provider of automation and energy management solutions for different sectors, including industrial, residential, commercial, and infrastructure. It offers a comprehensive range of low voltage circuit breakers integrated with features such as fault diagnosis and remote monitoring to protect electrical systems from short circuits and overloads.

Other key players in the low voltage circuit breaker market are Eaton Corporation, and Panasonic Corporation, among others.

Recent Developments

July 2022

Siemens launched a 3VA UL Large Frame MCCBs that support users to implement safe, powerful, and smart systems while simplifying and improving their work processes. Through the launch, the company addresses the complex needs of panel builders and switchgear operators.

October 2021

Schneider Electric announced the launch of a new and improved PowerPacTTM Molded Case Circuit Breaker (MCCB) series, focusing on innovative technologies designed to meet the diverse needs of customers while offering an improved circuit breaker solution. The PowerPacT MCCB is equipped with an LED locator, updated front cover design, Zigbee wireless technology, and semi-transparent breakers to enable customers to boost their operational efficiency and deliver reliability to power.