Molded Case Circuit Breaker Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.28 Billion |
| Market Size (2029) | USD 1.76 Billion |
| CAGR (2024 - 2029) | 6.54 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Molded Case Circuit Breaker Market Analysis
The Molded Case Circuit Breaker Market size is estimated at USD 1.28 billion in 2024, and is expected to reach USD 1.76 billion by 2029, growing at a CAGR of 6.54% during the forecast period (2024-2029).
- Over the medium term, factors such as the addition of a new transmission and distribution network, along with the growing focus on infrastructure development, are expected to be among the most significant drivers for the molded case circuit breakers market during the forecast period.
- On the other hand, the prices of raw materials are very volatile. Such factors pose a threat to the molded case circuit breaker market’s growth during the forecast period.
- Nevertheless, continued efforts to advance circuit breaker technology are expected to create several opportunities for the market in the future.
- Asia-Pacific is expected to dominate the market and will likely register the highest growth during the forecast period due to the established manufacturing facilities and rising infrastructural development projects across regional countries.
Molded Case Circuit Breaker Market Trends
Industrial Segment Projected to Dominate the Market
- The oil and gas industry is one of the leading industries where maximum instruction and safety standards are issued and followed to reduce fire accidents. Any ignition or spark within the operational area may lead to severe losses to the industry. Further, such losses may include human lives, and the company would need to bear several compensations and penalties in case a fire accident occurs.
- In the oil and gas industry, the major applications of molded-case circuit breakers include refineries, where they ensure the safe and reliable operation of motors, generators, and heavy machinery used in the processing of crude oil and natural gas. MCCBs used to carry out these functions typically have electrical ratings ranging from 50 to 250A, depending upon the type of application.
- The downstream sector of the oil and gas industry is a complex and highly capital-intensive industry that includes electrical equipment such as pumps, compressors, motors, control systems, SCADA systems, and several other critical components used in harsh, high-temperature, and compact environments. Operation of such equipment requires a power supply with safety devices. A number of upcoming new refinery projects and expansion of existing refinery projects are underway, which is expected to increase the demand for MCCBs over the forecast period.
- For instance, according to the Energy Institute Statistical Review Of World Energy, the global refining capacity reached 103,498 thousand barrels per day in 2023, an increase of over 2.1% compared to 2022. In contrast, the annual average growth rate in the past decade was approximately 1%, signifying the growth of the downstream sector in the oil and gas industry.
- Other industries where molded-case circuit breakers are used include food and beverage, wastewater treatment plants, and pharmaceuticals. Several companies are investing in the food and beverage industry globally, which is expected to boost the demand for MCCB in the coming years. For instance, in July 2024, North America had around 66 new projects in the food and beverage industry. Nearly 24 were likely to be new plants, while 16 would be expansion projects.
- The largest project belongs to Nature’s Bakery, which intends to allocate USD 237 million toward the construction of a 339,000-square-foot processing plant in Salt Lake City, Utah, United States. The project is anticipated to conclude by the summer of 2025. Therefore, such investment plans in the food and beverage industry are expected to promote growth in the utilization of industrial molded case circuit breakers globally in the upcoming years.
- Therefore, as per the aforementioned developments, the industrial market segment is expected to witness significant growth during the forecast period.
Asia-Pacific Projected to Dominate Market Growth
- India's rapid urbanization, marked by millions migrating to cities annually, is fueling demand for electricity across residential, commercial, and industrial segments. This demand underscores the necessity of molded case circuit breakers (MCCBs) as pivotal electrical protection devices that safeguard circuits from overcurrents, preventing overloads or short circuits.
- As per JLL's June 2024 report, the Indian market’s residential segment was poised to witness sales of 290,000 to 300,000 units, buoyed by robust demand and quality launches. The mid-price segment led sales, while the premium tier surged by 22% annually. Luxury segment sales skyrocketed by 83%, prompting developers to launch projects aligning with this demand. This upsurge in the luxury real estate segment is a direct response to evolving consumer tastes and technological advancements.
- China, the world's second-largest economy by GDP, saw a 5.2% growth in 2023, with its GDP hitting USD 17.89 trillion. However, this growth has begun tapering off due to an aging population and the economy shifting from manufacturing to services while transitioning from external to internal demand. Notably, the economy is pivoting from an investment-driven model to one led by consumption.
- Given China's robust growth in renewable power generation, commercial infrastructure, and other industries, it is poised to emerge as a leading market for molded case circuit breakers (MCCBs). This trend is set to continue, underlining the pivotal role MCCBs play in these industries.
- In December 2023, China unveiled plans to construct 100 underwater data centers, the first near Hainan Island in the South China Sea. These unique data centers, set underwater, will require specialized, remotely controlled devices to manage their power supply, amplifying the demand for MCCBs.
- Thus, in line with the abovementioned developments, Asia-Pacific is expected to dominate the market during the forecast period.
Molded Case Circuit Breaker Industry Overview
The molded case circuit breakers market is semi-fragmented. Some of the key players in this market (in no particular order) include ABB Ltd, Schneider Electric SE, Hitachi Ltd, Fuji Electric Co. Ltd, and Siemens AG.
Molded Case Circuit Breaker Market Leaders
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Schneider Electric SE
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Hitachi, Ltd.
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Fuji Electric Co Ltd
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Siemens AG
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Eaton Corporation PLC
*Disclaimer: Major Players sorted in no particular order
Molded Case Circuit Breaker Market News
- May 2024: Yueqing AISO Electric Co. Ltd, a renowned name in the electrical industry, unveiled its latest line of molded case circuit breakers (MCCBs), featuring smart technology and advanced functionalities to meet the evolving needs of modern electrical systems. According to the company, its MCCBs are designed to work perfectly in three-phase electrical circuits, ensuring optimal performance and safety in diverse applications.
- April 2024: Schneider Electric SE launched two new molded-case circuit breaker products: the GoPact Moulded Case Circuit Breaker (MCCB) and the Manual Transfer Switch (MTS). These offerings target the entry-level market and emphasize robustness and reliability without the premium price tag associated with advanced solutions.
Molded Case Circuit Breaker Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD, till 2029
4.3 Recent Trends and Developments
4.4 Market Dynamics
4.4.1 Drivers
4.4.1.1 Growing Focus on Infrastructure Development
4.4.1.2 Addition of New Transmission and Distribution Network
4.4.2 Restraints
4.4.2.1 Raw Material Price Volatility
4.5 Supply Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Consumers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products and Services
4.6.5 Intensity of Competitive Rivalry
4.7 Investment Analysis
5. MARKET SEGMENTATION
5.1 Rated Current
5.1.1 0A - 75A
5.1.2 75A - 250A
5.1.3 250A - 800A
5.1.4 Above 800A
5.2 End User
5.2.1 Power Utilities
5.2.2 Industrial
5.2.3 Residential and Commercial
5.2.4 Other End Users
5.3 Geography [Market Size and Demand Forecast till 2029 (For Regions Only)]
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 France
5.3.2.3 United Kingdom
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 NORDIC
5.3.2.7 Russia
5.3.2.8 Turkey
5.3.2.9 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Australia
5.3.3.4 Japan
5.3.3.5 South Korea
5.3.3.6 Malaysia
5.3.3.7 Thailand
5.3.3.8 Indonesia
5.3.3.9 Vietnam
5.3.3.10 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 Saudi Arabia
5.3.4.2 United Arab Emirates
5.3.4.3 Nigeria
5.3.4.4 Egypt
5.3.4.5 Qatar
5.3.4.6 South Africa
5.3.4.7 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Colombia
5.3.5.4 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted & SWOT Analyses for Leading Players
6.3 Company Profiles
6.3.1 Hitachi Ltd
6.3.2 WEG SA
6.3.3 HD Hyundai Electric Co. Ltd
6.3.4 Legrand SA
6.3.5 Havells India Ltd
6.3.6 ABB Ltd
6.3.7 Eaton Corporation PLC
6.3.8 Siemens AG
6.3.9 Chint Group
6.3.10 Fuji Electric Co. Ltd
6.3.11 Schneider Electric SE
6.3.12 Mitsubishi Electric Corporation
- *List Not Exhaustive
6.4 List of Other Prominent Companies (Company Name, Headquarter, Relevant Products & Services, Contact Details, etc.)
6.5 Market Ranking/Share (%) Analysis
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Technological Advancements
Molded Case Circuit Breaker Industry Segmentation
A molded case circuit breaker (MCCB) is an electrical protection device that safeguards circuits from overloads and short circuits. Encased in insulating material, it handles current ratings of up to 2,500A, making it suitable for various applications. MCCBs offer adjustable trip settings for customized protection in residential, commercial, and industrial environments.
The molded case circuit breakers market is segmented by rated current, end user, and geography. By rated current, the market is segmented into 0A - 75A, 75A - 250A, 250A - 800A, and Above 800A. By end user, the market is segmented into power utilities, industrial, residential and commercial, and other end users. The report also covers the sizes and forecasts for the molded case circuit breakers market across major regions. The market sizing and forecasts have been done for each segment based on value (USD).
| Rated Current | |
| 0A - 75A | |
| 75A - 250A | |
| 250A - 800A | |
| Above 800A |
| End User | |
| Power Utilities | |
| Industrial | |
| Residential and Commercial | |
| Other End Users |
| Geography [Market Size and Demand Forecast till 2029 (For Regions Only)] | ||||||||||||
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Molded Case Circuit Breaker Market Research FAQs
How big is the Molded Case Circuit Breaker Market?
The Molded Case Circuit Breaker Market size is expected to reach USD 1.28 billion in 2024 and grow at a CAGR of 6.54% to reach USD 1.76 billion by 2029.
What is the current Molded Case Circuit Breaker Market size?
In 2024, the Molded Case Circuit Breaker Market size is expected to reach USD 1.28 billion.
Who are the key players in Molded Case Circuit Breaker Market?
Schneider Electric SE, Hitachi, Ltd., Fuji Electric Co Ltd, Siemens AG and Eaton Corporation PLC are the major companies operating in the Molded Case Circuit Breaker Market.
Which is the fastest growing region in Molded Case Circuit Breaker Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Molded Case Circuit Breaker Market?
In 2024, the Asia Pacific accounts for the largest market share in Molded Case Circuit Breaker Market.
What years does this Molded Case Circuit Breaker Market cover, and what was the market size in 2023?
In 2023, the Molded Case Circuit Breaker Market size was estimated at USD 1.20 billion. The report covers the Molded Case Circuit Breaker Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Molded Case Circuit Breaker Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Molded Case Circuit Breaker Industry Report
Statistics for the 2024 Molded Case Circuit Breaker market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Molded Case Circuit Breaker analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
