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Thursday, May 19, 2022

Global Low Voltage Circuit Breaker Market To Be Driven By The Growing Demand For Miniature Circuit Breaker (MCB) In The Forecast Period Of 2022-2027

The new report by Expert Market Research titled, ‘Global Low Voltage Circuit Breaker Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global low voltage circuit breaker market, assessing the market based on its segments like types, applications, end users, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

  • Historical Market Size (2021): USD 3.4 Billion
  • Forecast CAGR (2022-2027): 5%
  • Forecast Market Size (2027): USD 4.6 Billion

The market has been propelled by the growing demand for miniature circuit breakers (MCB) owing to their electrical safety. This can be attributed to the ability of MCB to automatically switch off electric current, due to which it is increasingly preferred in the electronics and electric industry. As MCBs have high electrical sensitivity and reliability, and require low maintenance and replacement costs, their demand is significantly growing. Geographically, the Asia Pacific accounts for a significant market share due to the increasing production of renewable energy in the region. Furthermore, the rising investments in research and development (R&D) activities by the leading companies are expected to bolster the growth of the market in the forecast period.

Industry Definition and Major Segments

A low voltage circuit breaker is a protective device that ensures the flow of current in a circuit while protecting conductors from overheating. It also enables the isolation of electric distribution for maintenance and operations activities. The device is integral to minimise the risk of short circuits and technical faults in the residential, commercial, and industrial sectors.

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The major types of low voltage circuit breaker are:

  • Miniature Circuit Breaker (MCB)
  • Moulded Case Circuit Breaker (MCCB)
  • Air Circuit Breaker

Based on application, the market is divided into:

  • Energy Allocation
  • Shut-off Circuit
  • Others

The market, by end user, is classified into:

  • Residential
  • Commercial
  • Others

The regional markets of low voltage circuit breaker are:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

The growing demand for electricity from major end-use sectors like oil and gas, automotive, semiconductor, agriculture, and construction, among others, is propelling the market growth. As it is crucial to minimise short circuits, faulty operations, and cases of faults in motor-powered devices, the demand for low voltage circuit breakers is significantly growing. The market growth of low voltage circuit breaker can also be attributed to the growing residential construction due to rapid population growth and urbanisation. Moreover, the growing production of renewable energies in both developing and developed countries is anticipated to provide lucrative growth opportunities to the market for low voltage circuit in the forecast period.

Key Market Players

The major players in the market are ABB Ltd., Schneider Electric Company, Siemens AG, Eaton Corporation, and Panasonic Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company’s expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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