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Global Low Voltage Circuit Breaker Market Size, Forecast: By Type: Miniature Circuit Breaker (MCB), Moulded Case Circuit Breaker (MCCB), Air Circuit Breaker; By Application: Energy Allocation, Shut-off Circuit, Others; By End User: Residential, Commercial, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Low Voltage Circuit Breaker Market Outlook
The global low voltage circuit breaker market size attained a value of 2.0 billion in 2023. The market is expected to grow at a CAGR of 3.2% between 2024 and 2032, reaching almost 2.66 billion by 2032.
The Miniature Circuit Breaker (MCB) Segment Based on Type Holds a Significant Share in the Global Low Voltage Circuit Breaker Industry
The miniature circuit breaker (MCB) segment based on type accounts for a significant share in the market owing to the electrical safety offered by MCBs. An MCB, in an overload or faulty condition, automatically switches off electric current, thereby preventing any harm.
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The electrical and electronics industry has witnessed a transition from fuse to miniature circuit breakers (MCB) as the product is more reliable and efficient. Furthermore, MCB can easily identify the faulty zone of an electric circuit, possesses high electrical sensitivity, and has a less maintenance and replacement cost. Hence, the MCB segment is likely to attain a steady growth in the forecast period.
The Asia Pacific Accounts for the Largest Share in the Market
The low voltage circuit breaker industry in the Asia Pacific is driven by the expanding consumer base and the heavy presence of manufacturers in the region. In addition to this, China and India come under the list of top renewable energy producing countries. Furthermore, the growing efforts and rising investments in research and development (R&D) activities by the manufacturers are likely to provide lucrative opportunities for the market expansion. Hence, the market in the region is likely to witness a significant growth in the forecast period.
Low Voltage Circuit Breaker: Market Segmentation
A low voltage circuit breaker, an electrical switch, is designed to protect an electrical circuit from excess current and the subsequent damages caused by an overload or short circuit. It achieves so by interrupting current flow after a fault is detected. It is used in low-voltage power grid distribution equipment. A low voltage circuit breaker is suited for circuits rated at 600 volts or lower. These circuit breakers are commonly used in domestic, commercial, and industrial applications and are generally installed in draw-out enclosures to facilitate the removal and interchange without dismantling the switchgear. They provide benefits such as improved safety of personnel and property and are also made for direct-current (DC) applications like the DC required for subway lines.
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Based on type, the market can be segmented into:
- Miniature Circuit Breaker (MCB)
- Moulded Case Circuit Breaker (MCCB)
- Air Circuit Breaker
The major applications of low voltage circuit breakers include:
- Energy Allocation
- Shut-off Circuit
- Others
The significant end users of the product include:
- Residential
- Commercial
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Rising Demand for Electricity from Various End Use Sectors to Boost the Growth of Low Voltage Circuit Breaker Industry
The global low voltage circuit breaker industry is driven by the rising demand for electricity from various end use industries, including oil and gas, agriculture, automotive, semiconductor, and construction, among others. In these industries, it is important to prevent abnormal conditions such as faulty operations, short circuits, cases of faults in motor-powered devices, and others. Hence, the demand for low voltage circuit breakers is anticipated to witness a surge in the forecast period. In addition to this, the growing residential construction in emerging economies, owing to the rising population and increasing disposable incomes, is likely to provide impetus to the market in the coming years.
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Key Industry Players in the Global Low Voltage Circuit Breaker Market
The report gives a detailed analysis of the following key players in the global low voltage circuit breaker market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- ABB Ltd.
- Schneider Electric Company
- Siemens AG
- Eaton Corporation
- Panasonic Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Low Voltage Circuit Breaker Market Analysis
8.1 Key Industry Highlights
8.2 Global Low Voltage Circuit Breaker Historical Market (2018-2023)
8.3 Global Low Voltage Circuit Breaker Market Forecast (2024-2032)
8.4 Global Low Voltage Circuit Breaker Market by Type
8.4.1 Miniature Circuit Breaker (MCB)
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Moulded Case Circuit Breaker (MCCB)
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Air Circuit Breaker
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Low Voltage Circuit Breaker Market by Application
8.5.1 Energy Allocation
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Shut-off Circuit
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Low Voltage Circuit Breaker Market by End User
8.6.1 Residential
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Commercial
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Low Voltage Circuit Breaker Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Low Voltage Circuit Breaker Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Low Voltage Circuit Breaker Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Low Voltage Circuit Breaker Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Low Voltage Circuit Breaker Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Low Voltage Circuit Breaker Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 ABB Ltd.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Schneider Electric Company
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Siemens AG
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Eaton Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Panasonic Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Low Voltage Circuit Breaker Market: Key Industry Highlights, 2018 and 2032
2. Global Low Voltage Circuit Breaker Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Low Voltage Circuit Breaker Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Low Voltage Circuit Breaker Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Low Voltage Circuit Breaker Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Low Voltage Circuit Breaker Historical Market: Breakup by End-User (USD Billion), 2018-2023
7. Global Low Voltage Circuit Breaker Market Forecast: Breakup by End-User (USD Billion), 2024-2032
8. Global Low Voltage Circuit Breaker Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Low Voltage Circuit Breaker Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Low Voltage Circuit Breaker Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Low Voltage Circuit Breaker Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Low Voltage Circuit Breaker Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Low Voltage Circuit Breaker Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Low Voltage Circuit Breaker Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Low Voltage Circuit Breaker Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Low Voltage Circuit Breaker Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Low Voltage Circuit Breaker Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Low Voltage Circuit Breaker Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Low Voltage Circuit Breaker Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Low Voltage Circuit Breaker Market Structure
Key Questions Answered in the Report
In 2023, the global low voltage circuit breaker market attained a value of nearly USD 2.0 billion.
The market is estimated to grow at a CAGR of 3.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 2.66 billion by 2032.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, among which, the Asia Pacific accounts for the largest share in the market.
The major drivers of the industry, such as the rising utilisation of low voltage circuit breakers in the residential and commercial sectors, rising demand for electricity, and increasing focus to prevent short circuits in critical environments to provide improved safety, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the growing residential construction, thereby propelling the demand for low voltage circuit breakers.
Miniature circuit breaker (MCB), moulded case circuit breaker (MCCB), and air circuit breaker, are the major types of low voltage circuit breakers in the market.
Energy allocation, and shut-off circuit, among others are the different applications of the product.
Residential, and commercial, among others, are the major end users of low voltage circuit breakers.
The major players in the industry are ABB Ltd., Schneider Electric Company, Siemens AG, Eaton Corporation, and Panasonic Corporation, among others.
Analyst Review
The global low voltage circuit breaker market attained a value of USD 2.0 billion in 2023, driven by the growing consumer base of the product. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 3.2%. The market is projected to reach USD 2.66 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market is divided into miniature circuit breaker (MCB), moulded case circuit breaker (MCCB), and air circuit breaker. On the basis of application, the market is divided into energy allocation, and shut-off circuit, among others. The major end users of the product include residential, and commercial, among others. The major regional markets for low voltage circuit breaker are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, among which, the Asia Pacific accounts for the largest share in the market. The key players in the above market include ABB Ltd., Schneider Electric Company, Siemens AG, Eaton Corporation, and Panasonic Corporation, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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