Low-Voltage Circuit Breakers Market to Worth USD 25.24 Billion by 2032 at a CAGR of 9.78 % | Research by SNS Insider

By GlobeNewswire On Dec 20, 2024

A key driver for the Low-Voltage Circuit Breakers Market is the increasing demand for energy-efficient and safe electrical systems across various industries.

Austin, Dec. 20, 2024 (GLOBE NEWSWIRE) — Market Size & Growth Insights:

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:

ABB – (S200, Tmax XT, Emax 2)
Schneider Electric – (Masterpact, Acti9, Easy9)
Mitsubishi Electric Corporation – (NA Series, NF Series)
Siemens AG – (Sentron, 3VA, 5SY)
Eaton Corporation – (Series C, Power Defense)
Shanghai Liangxin Electrical Co., Ltd – (LX Series)
DELIXI – (MCB, MCCB)
Hangshen Electric – (MCCB, MCB)
CHINT Group – (MCCB, MCB)
Hyundai Electric and Energy Systems Co., Ltd – (HB Series)
Fuji Electric FA Component and Systems Co., Ltd – (DS Series, S3D)
Changsu Switchgear Mfg Co., Ltd. – (MCB, MCCB)
Hager Group – (DX3, DXL, P30)
People Electric Appliance Group Co., Ltd – (MCB, MCCB)
Panasonic Corporation – (MCBs, MCCBs)
Danfoss – (Circuit Breakers, Fused Switches)
Rockwell Automation, Inc. – (Bulletin 140M)
Circutor SA – (Circuit Breakers, Power Control)
Lovato Electric S.P.A. – (MCB, MCCB)
WEG Group – (MCB, MCCB, Surge Protection)
Carling Technologies, Inc. – (Circuit Breakers, Thermal Magnetic)
Britec Electric – (MCBs, MCCBs).

Low-Voltage Circuit Breakers Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 10.90 Billion
Market Size by 2032	USD 25.24 Billion
CAGR	CAGR of 9.78% From 2024 to 2032
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segmentation	• By Type (Miniature Circuit Breaker, Molded Case Circuit Breaker, Air Circuit Breaker) • By Application(Energy Allocation, Shut off Circuit, Others)
Key Drivers	• Impact of Urbanization and Infrastructure Expansion on Low-Voltage Circuit Breaker Demand.

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Segments Driving Growth in the Low-Voltage Circuit Breakers Market

By Type

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.

By Application

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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Recent Development

Dec,2024, ABB Launches Genix Copilot with Microsoft, ABB has launched ABB Ability Genix Copilot, a generative AI solution developed in collaboration with Microsoft, to enhance productivity, efficiency, and sustainability in industrial operations. Leveraging real-time data and AI, Genix Copilot offers actionable insights to optimize performance and reduce costs.
March, 2024 , Schneider Electric Launches MasterPacT MTZ Active Low Voltage Air Circuit Breaker, Schneider Electric has unveiled the MasterPacT MTZ Active, a low voltage air circuit breaker designed to enhance efficiency and sustainability in data centers. The new solution offers real-time energy tracking, enabling operators to optimize energy management and reduce costs.
May, 2024, Mitsubishi Electric to Establish Factory for Automation Products Mitsubishi Electric has announced its acquisition of an 80% stake in Fuji Bakelite Vietnam, forming a new joint venture, Mitsubishi Electric FP Automation Vietnam Co., Ltd. The factory, set to begin production in January 2025, will manufacture air and low-voltage circuit breakers, bolstering Mitsubishi’s factory automation business in ASEAN regions like Vietnam, Thailand, and Indonesia.

Table of Contents – Major Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Sales and Production Volumes

5.2 Pricing Trends 2023

5.3 Technology Adoption

5.4 Consumer Preferences, by Region

6. Competitive Landscape

7. Low-Voltage Circuit Breakers Market Segmentation, by Type

8. Low-Voltage Circuit Breakers Market Segmentation, by Application

9. Regional Analysis

10. Company Profiles

11. Use Cases and Best Practices

12. Conclusion

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