Low Voltage Circuit Breaker Market - By Product (ACB, MCB, MCCB), By End Use (Residential, Commercial, Industrial), By Region & Global Forecast, 2023 – 2032

Low Voltage Circuit Breaker Market Size

Low Voltage Circuit Breaker Market size reached USD 9.5 billion in 2022 and is set to register over 10.2% CAGR from 2023 to 2032.
 

The integration of digital technologies, such as IoT (Internet of Things) and advanced analytics will complement the business growth. This integration enables real-time monitoring, remote control, and predictive maintenance of circuit breakers, leading to improved reliability and reduced downtime. With growing awareness and regulations focused on energy efficiency, there has been a rising demand for low voltage circuit breakers that help optimize energy consumption. Manufacturers have been developing circuit breakers with improved energy monitoring capabilities and features like power management to meet these requirements.

COVID- 19 Impact

The pandemic led to disruptions in global supply chains, including the production and distribution of components and materials required for manufacturing low voltage circuit breakers. Lockdown measures, restrictions on movement, and temporary shutdowns of factories resulted in delays, shortages, and increased lead times for manufacturers. However, many companies and facilities postponed non-essential maintenance and upgrade projects during the pandemic to minimize costs and prioritize essential operations. This delay in maintenance and upgrades directly impacted the demand for low voltage circuit breakers, as replacements or new installations were put on hold.
 

Low Voltage Circuit Breaker Market Trends

Advancing product specifications coupled with the demand for safe and reliable circuit breaker systems across residential, commercial, and industrial establishments will favour the product deployment. In addition, allied government initiatives and updates favoured by standard product configurations for installers and consumers have integrated a favourable business landscape. Furthermore, regional inclination toward the incorporation of sustainable electricity networks and electrification across stand-alone grid infrastructure infuse a commendable growth scenario.
 

The governments of various countries are collaborating with private and public players operating in the power industry to deploy efficient T&D infrastructure along with redevelopment of the existing networks to cater to the energy demand across the globe. This has further augmented the demand for a large variety of electrical equipment which are installed across these networks to offer reliable power supply including low voltage circuit breakers. Moreover, the ongoing urbanization has further accelerated the commercialization across the globe on account of the increasing disposable incomes and growing consumer preference for commercial establishments such as restaurants, institutions, educational facilities, and retail stores, amongst others.
 

Low Voltage Circuit Breaker Market Analysis

The ACB segment of low voltage circuit breaker market has witnessed an annual installation of over 100,000 units in 2022. The rapid adoption of renewable energy sources, such as solar and wind power, requires reliable and efficient electrical infrastructure. Low voltage ACBs play a crucial role in protecting and controlling electrical circuits in renewable energy systems, ensuring safe and efficient operation. Low voltage ACBs with advanced features, such as intelligent energy management systems, power monitoring, and load shedding capabilities, help optimize energy usage and reduce wastage, making them attractive for energy-efficient applications. The shift towards renewable energy installations drives the demand for ACBs in this sector. The market size for MCCB is likely to cross USD 7.8 billion by 2032.
 

The construction and infrastructure sectors boost the low voltage circuit breaker market expansion. As new buildings, residential complexes, commercial establishments, and infrastructure projects are developed, there is a need for reliable and efficient electrical distribution systems. MCBs serve as essential components for circuit protection in these systems, driving the growth of the MCB market. The demand for electricity continues to grow due to the increasing use of electrical appliances, devices, and technologies. With expanding electrification, there is a greater need for reliable and safe circuit protection. Low voltage MCBs offer quick and precise protection against overcurrents and short circuits, making them a preferred choice for residential and commercial electrical installations.
 

Residential segment across the low voltage circuit breaker market is likely to grow at a 10% CAGR through 2032. Increasing reliance on electrical appliances, devices, and technologies in residential establishments drives the demand for circuit breakers. As homes become more electrified, the electrical loads and potential risks of overcurrents and short circuits also increase. Low voltage circuit breakers provide reliable and efficient protection by automatically interrupting the circuit in case of an electrical fault, minimizing damage and ensuring safety.
 

The demand for commercial spaces is fuelled by factors such as urbanization, economic growth, increasing business activities, and the need for modern, energy-efficient buildings. As the commercial sector continues to expand, the low voltage circuit breaker market demand is expected to rise.
 

Furthermore, commercial buildings are subject to stringent electrical safety regulations and codes. Low voltage circuit breakers need to comply with these standards to ensure the safe operation of electrical systems and to obtain necessary certifications and approvals. As compliance with safety regulations remains a priority for commercial building owners and operators, the demand for reliable and compliant low voltage circuit breakers continues to grow.
 

Asia Pacific low voltage circuit breaker market is predicted to surpass USD 29.0 billion by 2032. The region, with its emerging economies and increasing disposable incomes, witnesses a surge in construction and infrastructure development. Countries like China, India, and Southeast Asian nations are experiencing massive urbanization projects, including the construction of residential and commercial properties, transportation networks, power plants, and other infrastructure projects. This sustained growth in construction and infrastructure activities drives the demand for low voltage circuit breakers across the region.
 

Additionally, the growing investments in renewable energy projects, such as solar and wind power, create ample opportunities for low voltage circuit breaker market in the Asia Pacific region. Circuit breakers are essential components in renewable energy systems for protection and control purposes. As the adoption of renewable energy continues to expand, the demand for low voltage circuit breakers in this sector is forecast to rise.
 

Low Voltage Circuit Breaker Market Share

• ABB
• Schneider Electric
• Siemens
• Eaton
• Legrand
• Mitsubishi Electric
• Rockwell Automation
• Fuji Electric
• LS Electric
• Chint Electric
• C&S Electric
• WEG
• Socomec
•  L&T Electrical & Automation

are some of the major participants operating in the low voltage circuit breaker market.
 

Low Voltage Circuit Breaker Industry News

• In July 2022, Eaton acquired 50% stakes in the circuit breaker business of Jiangsu Huineng Electric Co., Ltd., a manufacturer and provider of LV circuit breakers across China. This move enabled the combination of application-designed products with global distribution channels, allowing both companies to leverage opportunities in the renewable energy, grid modernization, and industrial & commercial building sectors. Through this move, the company strengthened its market presence across the circuit breaker industry.
   

This low voltage circuit breaker market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in Units & USD Million from 2019 to 2032, for the following segments:

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By Product

• ACB
• MCB
• MCCB
• Others

By Ens Use

• Residential
• Commercial
• Industrial

The above information has been provided for the following regions and country:

• North America
  • U.S
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Italy
  • UK
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Oman
  • South Africa
• Latin America
  • Brazil
  • Chile