Molded Case Circuit Breakers Market to Reach Valuation of USD 14.82 Billion by 2028 - Rising Modernization of Aging Infrastructure to Thrive Market

Vantage Market Research

Jan 27, 2022

In terms of revenue, the Global Molded Case Circuit Breakers Market is expected to reach USD 14.82 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.8% from 2022 to 2028. The Global Molded Case Circuit Breakers Market growth is attributed to the factors such as increasing manufacturing and infrastructural activities, increasing demand for smart cities, and increasing rural electrification. Moreover, increasing industrialization and demand from utilities, rising government initiatives, and increasing investment from several key players as well as the government are further propelling the growth of the market.

Key Findings:

  • Under the type segment, the MCCB sub-segment is anticipated to grow at a substantial CAGR. The growth is attributed to increasing demand for molded case circuit breakers owing to their use in industrial, power generation, and transmission & distribution applications.
  • The transmission and distribution sub-segment held a significant market share in 2021. Modernization of aging infrastructure in developed countries as well as increasing construction activities in developing regions is propelling the growth of the segment and further boosting the market growth.
  • Asia Pacific is the largest regional segment. This is due to the increase in power generation capacity in India, as well as a growing number of construction activities is likely to fuel the market growth.

Some of the key players in Molded Case Circuit Breakers Market include, Schneider Electric (France), ABB Ltd. (Switzerland), Legrand (France), Fuji Electric Co., Ltd. (Japan), Rockwell Automation, Inc. (U.S.), and Hitachi, Ltd. (Japan), WEG (Brazil), and Chint Group (China).

In the past decade, urbanization & industrialization across the globe is increasing on their wildest level. Along with this, the power utilities, industrial, residential and commercial sectors is also developing at an unprecedented level. Thus, increasing the demand for molded case circuit breakers and further propelling the Molded Case Circuit Breakers Market growth.

Furthermore, increasing rural electrification is increasing the demand for molded case circuit breakers. The government is taking several initiatives regarding the use of green energy and urban energy conservation programs in order to achieve a sustainable future. Thus, increasing the demand for molded case circuit breakers. Moreover, the demand for smart cities is increasing owing to the rapid pace of industrialization and urbanization. This surging demand from several sectors is offering an opportunity to several key players compelling them to increase spending as well as production. Thus, to grasp the opportunity; the government and key players are investing their money heavily which is likely to boost the Molded Case Circuit Breakers Market growth over the forecast period.

Additionally, molded case circuit breakers have application in various industries, commercial and residential purposes as well as the power utility sector. Thus, expected to witness significant market growth over the forecast period.

Asia Pacific is expected to emerge as a potential market for Molded Case Circuit Breakers Market. The market growth is attributed to the presence of emerging economies, increasing industrialization and urbanization in the region, along an increase in power generation capacity in countries such as India. Consequently, it increases the demand for molded case circuit breakers. Additionally, the growing manufacturing sector, especially in Southeast Asian countries is further increasing the demand for molded case circuit breakers. In turn, driving the growth of Molded Case Circuit Breakers Market.