(MENAFN- GlobeNewsWire - Nasdaq) Portland, OR, May 26, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “ ac mcb market , By Type (Type B, Type C, and Type D), Voltage (Low, Medium, and High), and End Use Industry (Residential, Commercial, Industrial, and Utilities): Global Opportunity Analysis and Industry Forecast, 2023–2032”. According to the report, the global AC MCB industry generated $2.2 billion in 2022, and is projected to reach $3.8 billion by 2032, registering a CAGR of 5.5% from 2023 to 2032. Request PDF Brochure:
Prime D eterminants of G rowth
The AC MCB market analysis is anticipated to expand significantly during the forecast period, owing to the surge in demand for electricity and increase in need for reliable power delivery, and growth in infrastructure activities across the globe. Additionally, during the forecast period, the AC MCB market is expected to benefit from an increase in investment on research & developments to meet future requirements of safety. On the other hand, growth in the AC MCB market is expected to be restrained by the frequent operational failures.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2032 |
| Base Year | 2022 |
| Market Size in 2021 | $2.2 billion |
| Market Size in 2031 | $3.8 billion |
| CAGR | 5.5% |
| No. of Pages in Report | 284 |
| Segments covered | Type, Voltage, End Use Industry, and Region. |
| Drivers | Surge in demand for electricity and increase in need for reliable power delivery. Growth in infrastructure activities across the globe. |
| Opportunities | Increase in investment on research & developments to meet future requirements of safety. |
| Restraints | Frequent operational failures. |
Covid-19 Scenario
The pandemic presented both challenges and opportunities for the AC MCB market. While the challenges have had a negative impact on the market, the opportunities have provided a way for AC MCB manufacturers to adapt and grow. The shift towards online sales has also created new opportunities for the AC MCB market. With more people shopping online, AC MCB manufacturers have been able to reach new customers and expand their sales channels.
The type D segment to maintain its leadership status throughout the forecast period
Based on type, the Type D segment held the highest market share in 2022, accounting for nearly half of the global AC MCB market revenue, and is estimated to maintain its leadership status throughout the forecast period, as it is known for its small size & flexibility, and it is widely used in HVACs, and industries, where high current flow is required. However, the Type C segment is projected to manifest the highest CAGR of 6.05% from 2023 to 2032, driven by increase in construction of smart building in residential and commercial end user industry.
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The medium segment to maintain its leadership status throughout the forecast period
Based on voltage, the medium segment held the highest market share in 2022, accounting for nearly two-fifths of the global AC MCB market revenue, and is estimated to maintain its leadership status throughout the forecast period. In addition, the low voltage segment is projected to manifest the highest CAGR of 5.85% from 2023 to 2032. As more renewable energy sources such as solar and wind power are integrated into the electrical grid, there can be a greater need for reliable and efficient protection devices to ensure the safety and stability of the electrical system.
The utilities segment to maintain its leadership status throughout the forecast period.
Based on end-use industry, the utilities segment held the highest market share in 2022, accounting for nearly two-fifths of the global AC MCB market revenue, and is estimated to maintain its leadership status throughout the forecast period. In addition, the residential segment is projected to manifest the highest CAGR of 5.96% from 2023 to 2032, owing to increase in demand for smart and energy-efficient homes, and the need for better electrical safety measures.
Asia-Pacific to maintain its dominance by 2032.
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for around one-third of the global AC MCB market revenue. Europe is likely to dominate the market during the forecast period with CAGR of 6.36%, owing to the increase in infrastructure of utilities and adoption of smart grid technologies.
Leading Market Players: -
ABB Ltd. Altech Corporation
Eaton Corporation Fuji Electric Co Ltd. General Electric Legrand Mitsubishi Electric.
Schneider Electric Siemens Zhejiang Sentai Electrical Apparatus Factory
The report provides a detailed analysis of these key players of the global AC MCB market. These players have adopted different strategies such as product development, acquisition, product upgrade and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key Benefits for Stakeholders
This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets. The overall AC MCB market analysis is determined to understand the profitable trends to gain a stronger foothold. The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis. The current global AC MCB market forecast is quantitatively analyzed from 2021 to 2031 to benchmark financial competency.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the AC MCB market. The report includes the market share of key vendors and global AC MCB market trends.
AC MCB Market Key Segments:
Type
Voltage
End Use Industry
Residential Commercial Industrial
Utilities
By Region
North America (U.S., Canada, Mexico) Europe (UK, Germany, France, Rest of Europe) Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
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