A Miniature Circuit Breaker (MCB) is an electrical switch that is operated automatically to protect low voltage electrical circuits from damage caused due to excess current from an overload or short circuit. These are rated current up to 220V for DC supply and 240/415 for AC supply with different short circuit current capacities. They can be thermal or thermal-magnetic in operation. MCBs are available in different pole versions, such as single, double, triple, and four pole structures with different fault current levels. MCBs are employed to perform functions such as local control switches, isolating switches against faults, and overload protection devices for installation, specific equipment, and appliances. The global miniature circuit breaker market is anticipated to grow at a CAGR of 7.5% during the forecast period.
Top Driver: Increasing Infrastructure Activities and Rapid Urbanization
Factors such as increasing infrastructure activities demanding access to electricity in developing countries are anticipated to propel circuit breakers growth. As a result of rapid urbanization and modernization, the MCBs are mandatorily installed in commercial buildings, residential buildings, utility-scale grids, and industries. Additionally, governments initiatives to develop smart cities around the globe for conserving energy and the growing need for efficient protection devices in an electrical circuit are other significant factors driving the global miniature circuit breaker market.
Residential Buildings Segmentto Make Crucial Contribution to Growth of Global Miniature Circuit Breaker Market
On the basis of application, the global miniature market is segmented into Residential Buildings, Non-residential Buildings. The residential buildings segment is expected to be the fastest-growing segment in the market. On the basis of type the market is segmented into Hydraulic-magnetic Miniature Circuit Breakers, Electronic Miniature Circuit Breakers, Thermal-magnetic Miniature Circuit Breakers.
Rising Investments in Safety Measures in Infrastructure To Benefit North America Market
The global market is expected to grow in the forecast period, especially in a region such as the Asia Pacific, North America, and the rest of the world. Furthermore, the Asia Pacific region is anticipated to gain the highest revenue shares in the coming years, owing to the increase in the investment over the safer measures for the electricity supply in the region. North America is anticipated to gain the highest CAGER, due to the growth in the demand for better and compact circuit breakers in the developing infrastructure and is expected to grow further in the next few years.
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Players to Focus on Miniature Circuit Breaker Market
The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Schneider Electric, Rockwell Automation, ABB Group, Eaton, Max Group, Hitachi Industrial Equipment, AGE Technologies, Mitsubishi Electric, Fuji Electric, Altech, SENTAI, Greegoo are among others that could be at the forefront of the competition in the global market.
Schneider Electric: In February 2019, Schneider Electric announced the launch of Masterpact MTZ, the next generation high-power low voltage circuit-breakers assembled in the Indian market. Masterpact MTZ is a first-of-its-kind air circuit- breaker in the market that provides the customer with enhanced performance, reliability, and safety, a press release from the company.
Rockwell Automation: Rockwell Automation had announced that it had agreed to purchase Jacobs Automation, a leader in intelligent track motion control technology. Jacobs Automation provides a motion control solution called the iTRAK System. This technology improves performance across a wide range of packaging, material handling, and other applications for the global machine builder market.
Scope of the Report
By Type
Hydraulic-magnetic Miniature Circuit Breakers
Electronic Miniature Circuit Breakers
Thermal-magnetic Miniature Circuit Breakers
By Application
Residential Buildings
Non-residential Buildings
By Region
North America
Europe
Asia Pacific
Rest Of World
Scope of the Report
It provides a technological development map over time to understand the growth rate of the industry.
The report offers a dynamic method to various factors that drive or restrain the growth of the market.
It renders a definite analysis for changing competitive dynamics.
It builds a seven-year estimate based on how the market is predicted to grow.
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Table of content
Chapter 1 Overview And Scope
1.1 Market Vision
1.1.1 Market Definition
1.1.2 Market Scope
1.2 Market Segmentation
Chapter 2 Our Research Practice
2.1 Our Research Methodology
2.2 Data Triangulation
2.3 Data Sources
2.4 Assumptions for the study
2.5 Approach Adopted
Chapter 3 Executive Summary
3.1 Market Snapshot
3.2 Regional Snapshot
3.3 Segment Summary
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