(MENAFN- EIN Presswire) EINPresswire/ -- 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.

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Prime Determinants of Growth

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.

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.

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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

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