North America - Industrial Miniature Circuit Breaker Market by Type and Geography - Forecast and Analysis 2023-2027

North America - Industrial Miniature Circuit Breaker (MCB) Market Report 2023-2027:

The North America - industrial miniature circuit breaker (MCB) market size is estimated to grow at a CAGR of 5.42% between 2022 and 2027. The market size is forecast to increase by USD 176.7 million. The growth of the market depends on several factors such as the high demand for MCBs from industries, increasing focus on energy efficiency in the industrial sector and growing demand for MCBs from data centers. A miniature circuit breaker is an electrical safety device designed to protect an electrical circuit from damage caused by an overcurrent or short circuit. Its basic function is to interrupt current flow to protect equipment and to prevent the risk of fire.

This industrial miniature circuit breaker (MCB) market report extensively covers market segmentation by type (UL 489 and UL 1077) and geography (North America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the North America Industrial Miniature Circuit Breaker (MCB) Market During the Forecast Period?

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North America Industrial Miniature Circuit Breaker (MCB) Market Overview

Driver

High demand for MCBs from industries is notably driving the market growth. The industrial sector in North America has a strong presence and this has led to the adoption of high-quality MCBs that are benchmarked. Industries such as automotive, manufacturing, and others in the region give safety and productivity a priority, hence the use of advanced MCBs for circuit protection. This, in turn, protects electric equipment. The industrial sector in North America is increasing and has a high penetration rate in sectors such as power, manufacturing, chemicals, oil and gas, and others.

In addition, a number of vendors such as ABB, offer MCBs for industrial applications. For example, ABB has thermal-magnetic MCBs that are used in various industries such as semiconductors for circuit protection. Consequently, the high demand for ABB from North American industries is expected to drive market growth during the forecast period.

Trends

Growing focus on the replacement and upgrades of electrical systems is an emerging trend shaping the market growth. In North America, the rising emphasis on the replacement and upgrade of electrical systems is one of the growing trends in the industrial MCB market. The need for modernization and improved safety standards prompts businesses to replace outdated electrical components, including MCBs, with more advanced and efficient solutions as industries and infrastructure become old. Technological advancements in the industrial MCB market have introduced smarter and more efficient MCBs. Furthermore, upgrading to these intelligent MCBs allows industries to optimize their electrical systems, identify potential faults or inefficiencies, and lower downtime through predictive maintenance.

Moreover, upgrading MCBs to those with higher breaking capacities and adjustable trip settings allows for more precise and tailored circuit protection to suit the evolving needs of the industry. Therefore, the rising focus on the replacement and upgrades of electrical systems is an emerging trend, which is anticipated to drive the growth of the industrial MCB market in North America during the forecast period.

Restrain

Threat from refurbished and counterfeit products is a significant challenge hindering the market growth. Grey-market products, such as refurbished and counterfeit goods, are often sold by unauthorized and illegal vendors. Refurbished products are previously used MCBs that have not been tested by electrical equipment manufacturers and are marketed as new. Counterfeit products, on the other hand, are copies of genuine components that have been re-engineered to appear and be sold as branded products. The presence of counterfeit components in electrical equipment is a potential threat to market growth and the safety of end-users.

Furthermore, these products are often untested and may not function correctly during overloads or leakage, resulting in damaged circuit components, fire hazards, and harm to workers. Additionally, some of these products are used in regulated markets, and buyers may not be able to distinguish between genuine and counterfeit products, creating a significant risk for the industrial MCB market's growth in North America during the forecast period.

North America Industrial Miniature Circuit Breaker (MCB) Market Segmentation By Type Segment

The market share growth by the UL 489 segment will be significant during the forecast period. UL 489 MCBs are an important component of electrical systems in industrial settings and these circuit breakers adhere to the safety standards set by Underwriters Laboratories (UL), a respected and globally recognized testing and certification organization. 

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The UL 489 segment was the largest and was valued at USD 414.62 million in 2017. Miniature circuit breakers are crucial for ensuring electrical safety in various industrial applications. UL489 MCBs feature two distinct tripping mechanisms such as a delayed thermal tripping mechanism for overload protection and a magnetic tripping mechanism for short-circuit protection. They are UL 489 certified and do not require any additional backup over the current device. Compared to other circuit breakers, UL 489 MCB has higher current ratings, making it an ideal choice for heavy-duty electrical equipment and larger industrial loads. UL 489 MCBs can effectively protect motors, machinery, and power distribution systems found in industrial environments. As a result, the demand for MCBs in industrial settings is increasing, and the UL 489 segment of the industrial MCB market in North America is expected to grow during the forecast period. 

North America Industrial Miniature Circuit Breaker (MCB) Market Customer Landscape

The Industrial Miniature Circuit Breaker (MCB) Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Industrial Miniature Circuit Breaker (MCB) Market Customer Landscape

Who are the Major North America Industrial Miniature Circuit Breaker (MCB) Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ABB Ltd. - The company offers industrial miniature circuit breakers such as ABB S300 P Industrial MCB.

Carlo Gavazzi Holding AG - The company offers industrial miniature circuit breakers such as GMB63, and GSB63.

Eaton Corp. Plc - The company offers industrial miniature circuit breakers such as UL 489 and UL 1077 DIN.

The research report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including:

• ETA Elektrotechnische Apparate GmbH
• LOVATO Electric Spa
• LS ELECTRIC Co. Ltd.
• NOARK Electric
• Reunert Ltd.
• Schneider Electric SE
• Siemens AG

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The industrial miniature circuit breaker (MCB) market report forecasts market growth by revenue and analyses the latest trends and growth opportunities from 2017 to 2027. 

• Type Outlook (USD Million, 2017 - 2027)
  • UL 489
  • UL 1077

• Region Outlook (USD Million, 2017 - 2027)
  • North America
    • The U.S.
    • Canada 

North America Industrial Miniature Circuit Breaker (MCB) Market Scope
Report Coverage	Details
Page number	117
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.42%
Market growth 2023-2027	USD 176.7 million
Market structure	Concentrated
YoY growth 2022-2023(%)	4.3
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	ABB Ltd., Carlo Gavazzi Holding AG, Eaton Corp. Plc, ETA Elektrotechnische Apparate GmbH, LOVATO Electric Spa, LS ELECTRIC Co. Ltd., NOARK Electric, Reunert Ltd., Schneider Electric SE, Siemens AG, and WEG Equipamentos Eletricos S.A.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in the North America Industrial Miniature Circuit Breaker (MCB) Market In Regional Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the market  size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the market industry across North America
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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