Global Molded Case Circuit Breaker Market Report and Forecast 2024-2032

Global Molded Case Circuit Breaker Market Outlook

The global molded case circuit breaker market is expected to grow at a CAGR of 4.30% between 2024 and 2032. Major market drivers are rapid industrialisation, rising inclination towards reliable electricity protection devices, and research and development activities of transmission and distribution networks.

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Key Trends in the Market

A molded case circuit breaker is a type of electrical device that is used to provide protection to electrical circuits from heavy currents which are capable of causing short circuits. They can be used in any environment including industrial, residential, or commercial. They are used to protect electrical circuits from ground faults, short circuits, and thermal overloads with the help of electromagnetic and thermomagnetic mechanisms to break the flow of current.

• There is a rising demand for the molded case circuit breaker from the commercial and residential sectors. This is in order to ensure safety and reliability for swift operation of the electrical circuits and is expected to boost the growth of the molded case circuit breaker market.

• Increasing investments by the major key players to bring improvements and advancements in molded case circuit breakers in order to fulfil the rising demands of the consumers is a major key trend fuelling the market.

• Increasing rate of energy consumption along with expanding power distribution network is subjected to cause electrical faults such as short circuit or thermal overload. This is likely to increase the demand for molded case circuit breakers.

Market Analysis

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Based on rated current, the molded case circuit breaker market can be divided into 0A - 75A, 75A - 250A, 250A - 800A, and above 800A. By end-user, the market is segmented into industrial, residential and commercial, and power utilities, among others. On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global molded case circuit breaker market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• ABB Ltd.

• Hitachi, Ltd.

• Eaton Corporation Plc

• Legrand

• WEG Equipamentos Elétricos S.A.

• Rockwell Automation Inc.

• Eaton Corporation PLC

• Siemens AG

• Others

Market Share by End-User

The industrial sector is expected to account for a larger share in the market because of increasing demand for stable energy, and its sizable share of distributed power consumption. Moreover, growing use of expensive and large electrical equipment in the industrial sector is also increasing the demand for molded case circuit breakers to protect the equipment.

Significant energy consumption and need for molded case circuit breaker can be observed in the manufacturing industries which produce iron and steel, non-ferrous metals, refining, basic chemicals, food, non-metallic minerals, and paper. Rising electricity demand from these sectors and need for stable electricity is helping the molded case circuit breaker market grow rapidly.

Market Share by Region

Rapid industrialisation and strict compliance requirements on electrical safety is expected to help the market for molded case circuit breakers in North America to grow rapidly. The growth is anticipated to further fuel by growing infrastructure of residential and commercial sectors. With increase in usage of electronic devices, there is greater awareness and need for adequate protection against short circuits.

The Asia Pacific market for molded case circuit breakers is also expected to witness significant growth in the coming years, due to the expansion of electricity and power grid networks, particularly in emerging economies. With increasing demands for power and growing frequency of voltage fluctuations, molded case circuit breakers provide protection by automatically turning off the circuit during abnormalities. This is likely to surge the growth of the molded case circuit breaker market in the Asia Pacific region in the forecast period.

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Competitive Landscape

ABB Ltd. is a technology company that deals with automation and electrification. It has its headquarter in Zurich, Switzerland and was founded in 1988.They provide products such as control room solutions, metallurgy products, low voltage products, and motors and generators. They also provide systems such as power electronics and control systems.

Hitachi Ltd. was established in 1910 and is headquartered in Tokyo, Japan. It manufactures and delivers construction machinery, smart life and eco-friendly systems, information and telecommunication systems, social infrastructure and industrial systems, automotive systems, power systems, and electronic system and equipment such as railway systems, IoT solutions, and amorphous core transformers, among other products.

Eaton Corporation Plc was founded in 1911 and is based in Dublin, Ireland. It is a power management company which provides a variety of products along with services including fuel efficient systems, components that guide commercial safely, and power chain management tools. Some of its products are clutches and brakes, ducting solutions, cylinders, actuators and motion control, conduit, and cable and wire management.

Other market players include Legrand, WEG Equipamentos Elétricos S.A., Rockwell Automation Inc., Eaton Corporation PLC, and Siemens AG, among others.

Key Highlights of the Report