Molded Case Circuit Breakers Market Size, Share & Trends Analysis Report By Type (Miniature Circuit Breaker (MCB), Molded Case Circuit Breaker (MCCB)), By Rated Current (20A, 21A–75A, 76A–250A, 251A–800A, Above 800A), By End-User (Transmission and distribution, Manufacturing and process industry, Residential , Commercial, Power generation, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Molded Case Circuit Breakers Market Size

The global molded case circuit breaker market size was valued at USD 12 billion in 2023. It is projected to reach from USD 12.8 billion in 2024 to USD 22.6 billion by 2032, registering a CAGR of 7.4% during the forecast period (2024-2032). 

Molded case circuit breakers are essential components in the transmission and distribution of electricity. They safeguard valuable equipment in industrial and commercial settings by automatically disconnecting power when a circuit is at risk of overloading.

The market expansion may be ascribed to several factors, including the rise in manufacturing and infrastructural activities, the growing need for smart cities, and the increasing efforts towards rural electrification. Furthermore, the market is experiencing growth due to the expansion of industrialization and utilities, government initiatives, and increased investment from critical businesses and the government.

Highlights

• Molded Case Circuit Breaker (MCCB) generates the highest revenue share based on type.
• 76A – 250A accounts for the largest market share by rated current.
• Transmission and distribution generate the highest revenue share based on end-users.

Molded Case Circuit Breaker Market Growth Factors

Increasing investments in clean energy and smart grids

The global molded case circuit breaker (MCCB) market is expected to experience substantial growth due to the rising investment in renewable energy initiatives. The proliferation of renewable energy initiatives, such as solar and wind farms, requires dependable circuit protection systems to manage fluctuating loads and avert system malfunctions. Due to the worldwide transition to sustainable energy sources, there is an increasing need for sophisticated electrical infrastructure. This includes MCCBs, critical in safeguarding electrical circuits against overloads and short circuits in renewable energy installations.

By 2023, advancements in technology and a growing focus on sustainability and efficiency significantly changed the power distribution system known as the smart grid. Amidst the challenges posed by climate change and the transition to sustainable energy, smart grid technologies are emerging as a crucial answer. These technologies enable utilities to update grid infrastructure, integrate renewable energy sources, and give customers real-time data and control over their energy usage. Smart grids, which incorporate renewable energy sources and necessitate advanced monitoring and control systems, significantly depend on MCCBs to guarantee stability and efficiency.

Moreover, the need for MCCBs is further enhanced by the escalating investments in smart grid technologies and the expansion of electricity distribution networks. For example, the Chinese government plans to acquire more than 20% of its energy from renewable sources by 2030 to promote the sustainable energy mix project. The projected size of the smart grid industry in China is estimated to exceed USD 40 billion by 2024. Moreover, the supportive regulatory framework for energy sustainability and intelligent distribution networks has been promoting the expansion of the industry. The increasing prevalence of electric vehicles in the area is expected to enhance the smart grid business's growth, bolstering the molded case circuit breaker market.

Restraining Factors

Failures in extreme conditions

Molded case circuit breakers are essential for safeguarding electrical systems from excessive loads and sudden electrical faults. Nevertheless, they may encounter substantial obstacles when functioning under harsh circumstances, impeding their efficiency. Molded case circuit breakers can experience thermal derating under exceptionally high or low temperatures. Elevated temperatures can lead to the breaker's early tripping due to heightened thermal strain on its internal components. In contrast, decreased temperatures can impact the structural soundness of the MCCB, resulting in possible faults or the inability to activate when required. The extreme temperatures can deteriorate the insulating materials and make mechanical parts more fragile, increasing the likelihood of failure.

Additionally, MCCBs are vulnerable to high humidity and corrosive conditions. Excessive moisture can cause the corrosion of metallic components, which can hinder the proper functioning of the breaker; in environments characterized by high levels of corrosive substances, such as those containing a significant amount of salt or industrial pollutants, the degradation of the breaker's components can be expedited, hence affecting its dependability and longevity.

In addition, MCCBs can be negatively impacted by excessive dust and vibration. Dust accumulation can impede the movement of the breaker's components, while continuous vibration might result in mechanical wear and eventual breakdown. This is especially pertinent in industrial or construction environments, where MCCBs are frequently subjected to severe circumstances. Extreme temperatures, humidity, corrosive conditions, dust, and vibration can significantly impede the performance and dependability of MCCBs. These factors might result in early activation, failure to activate, and overall decreased durability of the circuit breakers, compromising the safety and effectiveness of the electrical systems they are intended to safeguard and hindering the market expansion.

Market Opportunities

Increasing push towards rural electrification

The market for molded case circuit breakers on a global scale is set to experience substantial expansion, mainly due to the growing emphasis on electrifying rural areas. Molded case circuit breakers are vital in guaranteeing dependable electrical distribution and safeguarding against overloads and short circuits. As rural regions increasingly acquire access to electricity, MCCBs become essential. Governments and international organizations actively promote rural electrification efforts to enhance quality of life, foster economic development, and increase access to critical services in underserved areas. An example of this is the Saubhagya initiative implemented by the Indian government, which aims to ensure electricity access to every household in rural areas.

Similarly, multiple African countries are working with international partners to strengthen their initiatives to provide electricity to rural areas. These activities require a solid and dependable electrical infrastructure, which MCCBs play a crucial role in. With the expansion of energy access to rural homes and small enterprises, there is a growing demand for reliable electrical protection equipment. Molded case circuit breakers (MCCBs) are used in these environments because of their robustness, simplicity of upkeep, and capacity to manage fluctuating electrical demands. The proliferation of renewable energy sources, such as solar and wind, in projects that provide electricity to rural areas contributes significantly to the increased demand for molded case circuit breakers. Renewable systems frequently necessitate advanced electrical protection measures to guarantee reliable and secure functioning.

Moreover, the enhanced safety features, increased efficiency, and advanced connectivity choices of MCCBs contribute to their growing appeal in contemporary rural electrification initiatives. Incorporating smart grid technologies necessitating sophisticated protection and control systems further bolsters the expanding market for MCCBs. Ultimately, the worldwide effort to provide electricity to rural areas is a significant factor that propels the growth of the molded case circuit breaker industry. The need for MCCBs remains strong in newly electrified areas due to the necessity of reliable electrical protection. Continuous technological breakthroughs and the implementation of renewable energy initiatives further support this demand.

Regional Insights

Asia-pacific: dominant region with 4.6% growth rate (cagr)

Asia-Pacific is the most significant global molded case circuit breaker market shareholder and is estimated to grow at a CAGR of 4.6% over the forecast period. The Asia-Pacific region is experiencing rapid growth due to population growth, urbanization, and industrialization. Consequently, there is a significant demand for a guaranteed power source. Numerous nations are allocating resources to the renewable energy industry to meet these requirements and enhance their transmission and distribution systems. According to the International Energy Agency (IEA), China, the most populous country in the world, is projected to account for 36% of the total global hydroelectricity generation capacity and 40% of the worldwide wind energy installation between 2015 and 2021. Currently, China has a total capacity of over 259,000 MW for new coal plants in different development phases. This accounts for more than one-third of the worldwide coal plant pipeline.

However, it is worth noting that China and India have a significant portion of the global industrial sector, particularly in the energy-intensive manufacturing industry. China currently holds the most essential proportion of global industrial energy consumption, accounting for 29% in 2018. However, India is quickly closing the gap with consistent growth in its industrial sector. In addition, India is making substantial investments in the renewable industry, with a total of USD 11.1 billion invested only in 2018. Most of these investments were allocated to the expansion of wind and solar farms, which are anticipated to drive the growth of the distributed power generation market and, therefore, the molded case circuit breaker market.
Consequently, this is expected to drive the need for molded case circuit breakers in the region throughout the projected timeframe.

North america: fastest growing region with 7.8% growth rate (cagr)

North America is estimated to grow at a CAGR of 7.8% over the forecast period. The molded case circuit breakers market is projected to have North America as its second-largest region. The market in this region is experiencing expansion due to the presence of strict compliance standards regarding electrical safety. Furthermore, a substantial investment in this region's transmission and distribution network offers extensive opportunities to utilize electrical components. The United States is a significant global and North American market.

Europe is a significant geographical area for the molded case circuit breakers market. The proliferation of cross-border interconnections will stimulate the expansion of Europe's Transmission and Distribution (T&D) equipment sector. Europe is constructing an integrated grid capable of transmitting electricity among several countries, including the UK, Poland, Germany, France, and Sweden. Interconnected systems offer enhanced grid resilience, reserve consolidation, and decreased power-generating capacity investments. Furthermore, substantial investment in the renewable energy industry is driving the expansion of the global market. Numerous countries are focusing on creating renewable energy to reduce reliance on traditional fossil fuels.

Molded Case Circuit Breaker Market Segmental Analysis

By type

Based on type, the market is segmented into Miniature Circuit Breaker (MCB) and Molded Case Circuit Breaker (MCCB). The Molded Case Circuit Breaker (MCCB) segment dominated in 2023. Circuit breakers are the pivotal elements of an entire electrical circuit system. These components safeguard electrical equipment and loads against short circuits or overloads. A Molded Case Circuit Breaker (MCCB) is a compact circuit breaker designed to protect an electrical circuit from short circuits and facilitate the safe connection and disconnection of loads from the power supply. MCCB typically operates using two components: a thermal element for detecting overcurrent and a magnetic element for triggering a release during a short circuit.

The Miniature Circuit Breakers (MCBs) segment is the fastest growing. Miniature Circuit Breakers (MCBs) are essential for expanding the molded case circuit breaker (MCCB) business. MCBs, or Miniature Circuit Breakers, are crucial elements in electrical systems. They safeguard against overload and short circuits in various settings, including residential, commercial, and industrial environments. Due to their small size, cost efficiency, and rapid interruption of electrical currents, they are often used for circuit protection. The growing focus on safety and adherence to regulations fuels the need for Molded Case Circuit Breakers (MCCBs), with Miniature Circuit Breakers (MCBs) playing a crucial role. Furthermore, improvements in MCB technology, such as increased sensitivity and the capacity to monitor from a distance, contribute to the expansion of the market by boosting the overall dependability and safety of the system.

By rated current

Based on rated current, the market is segmented into up to 20A, 21A–75A, 76A–250A, 251A–800A, and above 800A. The 76A to 250A segment dominated the market in 2023. Most of these MCCBs are primarily utilized in the infrastructure sector, particularly in residential and commercial applications. The demand for the 76A-250A sub-segment is anticipated to be propelled by the expanding infrastructure sector in emerging economies.

The 251A–800A segment is the fastest growing. Molded case circuit breakers rated between 251A and 800A are essential for the market's expansion because of their adaptability and suitability in several industries. Molded case circuit breakers are critical for safeguarding electrical circuits from excessive loads and short circuits in medium to large-scale installations. Due to their extensive range, they are well-suited for various applications, ranging from industrial plants to commercial structures. Furthermore, as industries progress and the need for more excellent electrical capabilities grow, MCCBs in this rating range become even more essential, stimulating ongoing innovation and growth in the molded case circuit breaker market.

By end users

Based on end-users, the market is divided into transmission and distribution, manufacturing and process industry, residential, commercial, power generation, and others. The transmission and distribution segment dominated the market in 2023. The transmission and distribution sector plays a critical role in the growth of the molded case circuit breaker market. As electricity demand increases, utilities and end-users require reliable and efficient protection solutions for their electrical infrastructure. MCCBs are essential for preventing overloads and short circuits and ensuring the safety and stability of power distribution networks. The ongoing expansion and modernization of transmission and distribution grids, driven by integrating renewable energy sources and the need for smart grid technologies, further bolsters MCCB demand, contributing significantly to market growth.

The commercial segment is the fastest growing. Commercial end users are crucial in driving the growth of the molded case circuit breaker market. The market's growth is propelled by their need for dependable electrical infrastructure to facilitate commercial operations. The need for molded case circuit breakers is increasing as organizations develop and modernize, requiring more efficient and safe circuit protection. Moreover, commercial end users frequently look for solutions that provide advanced features like remote monitoring and diagnostics, which, in turn, contribute to the market's growth. Their impact on the market boosts sales and fosters innovation and product advancement to address changing commercial needs.

The residential segment is the second largest. Residential end users are essential for expanding the molded case circuit breaker market. The introduction of MCCBs is driven by the demand of homeowners and tenants for electrical systems that are both safe and efficient. The growing recognition of safety norms and laws has led residential consumers to demand dependable circuit protection solutions, driving the market's rise. Furthermore, with the increasing expansion of the residential sector globally, particularly in developing nations, there is a heightened demand for MCCBs to protect electrical systems. Residential end users play a crucial role in driving the continuous expansion of the MCCB market by seeking improved safety and performance in their electrical systems.

Recent Developments

• April 2024- Schneider Electric, a corporation specializing in energy management and automation, introduced two new products for the entry-level market: the GoPact Moulded Case Circuit Breaker (MCCB) and the Manual Transfer Switch (MTS). The products have been specifically intended to cater to the basic entry level of the market, prioritizing durability and dependability while avoiding the higher price associated with circuit breaking and automatic transfer switch solutions.
• May 2024- ABB Electrification Smart Power's production hub in Frosinone, Italy, showcased ABB's integration of sustainability throughout its entire value chain. Additionally, ABB's solutions enable sites to decrease Scope 1 and 2 emissions and energy expenses consistently. Using the insights provided by ABB AbilityTM Energy Manager, ABB has enhanced the energy efficiency of every circuit breaker manufactured at Frosinone by 25 percent. Additionally, ABB has decreased the average Scope 1 and 2 CO2 emissions per product by 33 percent compared to a baseline set in 2019.