December 20, 2024 08:15 ET | Source: SNS Insider pvt ltd SNS Insider pvt ltd
Austin, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Market Size & Growth Insights: Dc Mcb 100 Amp
According to the SNS Insider, “The Low-Voltage Circuit Breakers Market Size was valued at USD 10.90 billion in 2023 and is expected to reach USD 25.24 billion by 2032 and grow at a CAGR of 9.78% over the forecast period 2024-2032.”
Growth of Low-Voltage Circuit Breakers Market Driven by Safety, Efficiency, and Technological Innovations
The Low-Voltage Circuit Breakers Market is experiencing robust growth, driven by rising electricity consumption across residential, commercial, and industrial sectors. As urban infrastructure expands and renewable energy sources like solar and wind power become more prevalent, the need for efficient protection systems is growing. Low-voltage circuit breakers play a crucial role in safeguarding against electrical faults, overloads, and short circuits while enhancing equipment longevity and user safety. Technological advancements, such as the integration of smart features and IoT for remote monitoring, further boost demand. Additionally, features like short-time delay (ranging from 6 to 30 cycles) and ground fault pickup settings (typically set between 20% to 60% of continuous current rating) contribute to better protection, making these breakers essential for modern, energy-efficient power management solutions.
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Leading Market Players with their Product Listed in this Report are:
Low-Voltage Circuit Breakers Market Report Scope:
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Segments Driving Growth in the Low-Voltage Circuit Breakers Market
In 2023, the Miniature Circuit Breaker segment accounted for approximately 50% of the low-voltage circuit breakers market, driven by its widespread use across residential, commercial, and small-scale industrial sectors. MCBs are preferred for their reliable protection against overloads and short circuits, enhancing both safety and equipment longevity. Their compact design, cost-effectiveness, and ease of installation make them ideal for urbanizing regions with increasing construction demands.
In 2023, the Energy Allocation segment led the low-voltage circuit breakers market, accounting for approximately 57% of total revenue. This growth is driven by the increasing demand for efficient power distribution in both renewable energy systems and traditional grids. Low-voltage circuit breakers play a crucial role in ensuring stable electricity transfer, protecting networks from overloads and short circuits. The rise of renewable energy sources, like solar and wind, further drives demand as these breakers help manage fluctuating power levels and maintain grid stability.
Asia-Pacific and North America Lead the Low-Voltage Circuit Breakers Market Growth
In 2023, Asia-Pacific dominated the low-voltage circuit breakers market, capturing about 38% of global revenue, driven by rapid industrialization, urbanization, and infrastructure growth in China, India, and Southeast Asia. High electricity demand in residential, commercial, and industrial sectors, along with renewable energy investments in China and India’s smart cities initiatives, fueled market growth. The expansion of electric vehicle charging infrastructure further boosted demand.
North America is expected to be the fastest-growing region from 2024 to 2032, driven by renewable energy projects, smart grids, and EV infrastructure. The U.S. and Canada’s focus on modernizing power distribution systems and adopting smart energy management solutions is increasing the demand for advanced circuit breakers.
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Table of Contents - Major Points
5. Statistical Insights and Trends Reporting
7. Low-Voltage Circuit Breakers Market Segmentation, by Type
8. Low-Voltage Circuit Breakers Market Segmentation, by Application
11. Use Cases and Best Practices
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