About Miniature Circuit Breakers
Miniature Circuit Breakers is a circuit protection device which switches off the electrical circuit during an overload condition. Additionally the knob moves to the off position as it is an electromechanically operated circuit board. It is applicable in place of fuses and domestic application. The Miniature circuit board has the safety feature and hence it is replaces the fuse. This increases the demand which in turn propelling the growth of the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.3% |
The companies are exploring the market by adopting expansions, investments, and new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Miniature Circuit Breakers market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB (Switzerland), Siemens (Germany), GE (United States), Eaton (Ireland), Schneider Electric (France), Rockwell Automation (United States), Max Group (United States), Hitachi (Japan), AGE Technologies (South Africa) and Mitsubishi Electric (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Altech (Japan), SENTAI (China), Klockner-Moeller (Ireland) and Fuji Electric (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Miniature Circuit Breakers market by Type (B Type MCBs, C Type MCBs and D Type MCBs) and Region.
On the basis of geography, the market of Miniature Circuit Breakers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End users, the sub-segment i.e. Residential will boost the Miniature Circuit Breakers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Rated Voltage , the sub-segment i.e. <500 V will boost the Miniature Circuit Breakers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Installation, the sub-segment i.e. Indoor will boost the Miniature Circuit Breakers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of Safe Electrical Infrastructure and Rising Renovations in Electric Grid Infrastructure
Market Growth Drivers:
Frequent Power Lags and Network Failures and Increasing Usage of Electric Utilities is Propelling the Market
Challenges:
Presence of Major Players are Leading to High Competition
Restraints:
High Costs Associated with the Miniature Circuit Breakers
Opportunities:
Diversification of Electrical Networks in Urban as Well as Rural Areas and Rapid Development in Infrastructure is Fueling the Growth of the Market
Market Leaders and their expansionary development strategies
In February 2023, Mitsubishi Electric Corporation announced that it entered into a share transfer agreement on February 16 to wholly acquire Scibreak AB, a Swedish-based company that develops direct current circuit breakers (DCCBs). The two firms aim to strengthen the competitiveness of their unified business by working closely on developing DCCB technologies for high-voltage direct current (HVDC) systems to support the increasing global deployment of renewable energy.
In April 2023, ABB has released its new generation of miniature circuit breakers (MCBs) designed to replace the previous S200 P. The improved circuit breaker, the S300 P, finds itself on the market almost 100 years after ABB first launched its MCB technology. ABB has worked to improve its circuit breakers' safety, performance, and sustainability with its latest addition.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.