Global MCB and MCCB Market Overview
As per MRFR’s latest report on MCB and MCCB market, it is estimated to witness sizeable growth during the forecast period. This can be primarily owed to the rising scope of application in several end-user industries. The report has mentioned that the global MCB and MCCB market are estimated to upscale at 7.28% CAGR between 2018-2023. The market is also anticipated to reach a revenue valuation of USD 11,513.9 million in 2023, from USD 7,595.9 million at the beginning of the forecast period. Moreover, increasing investments in the power sector from countries all over the world are fostering market growth.
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MCB refers to an electromagnetic device which automatically switches the electrical circuit off to save the home appliances when a short circuit takes place. Such short circuit may take place due to an abnormal event, such as overload of current, fault in the electrical component, etc.
MCB and MCCB Market Segmentation
The global MCB and MCCB market has been analyzed under a segmental microscope to arrive at a detailed and insightful analysis.
Such segmentation has been carried out on the basis of type, rated current, end-user, and region. Based on type, the MCB market is bifurcated into MCB and MCCB. Among these, the MCCB segment is estimated to hold the dominant share of the market owing to the higher suitability towards providing better overload protection for high-rated power equipment with a current rating of up to 1000 amperes.
An MCCB is a combination of a temperature-sensitive device and a current-sensitive electromagnetic device which is designed to protect electric equipment against various types of damage caused due to abnormal events. This may include thermal overload, short circuits, and ground faults. MCCBs are also self-adjustable to rated current settings and can also provide the same security to low power ratings of 10 A in residential applications to up to 2,500 A in industrial applications.
By rated current, the global MCB and MCCB market is segmented into up to 20 A, 21-75 A, 76-250 A, 251-800 A, and above 800 A.
By end-user, the market is segmented into transmission and distribution, residential and commercial, power generation, manufacturing and process industries, and transportation.
The global MCB and MCCB market is geographically segmented into North America, South America, the Middle East & Africa, Asia Pacific, and Europe.
Asia Pacific is anticipated to hold the foremost share of the market through the forecast period, accounting for 34.06% of the market share. Within Asia Pacific, China held the largest country-specific share in the regional MCB and MCCB market at the beginning of the forecast period and was valued at USD 820.6 million. Growth noted by the APAC market can be accredited to the key growth pockets residing in the region viz. China, Japan, and India. These countries are projected to witness upscaling investments in the transmission and distribution sector, which is in turn, estimated to set the market on an impressive growth trajectory.
Some prominent MCB and MCCB market players profiled in the report include Siemens (Germany), ABB (Switzerland), Mitsubishi Electric Corporation (Japan), Fuji Electric Co. Ltd (Japan), Hitachi Industrial Equipment Systems Co. Ltd (Japan), Rockwell Automation, Inc. (US), Havells India Ltd (India), Schneider Electric (France), Legrand (France), Eaton (Ireland), CHINT Group (China), and NOARK Electric (US).
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