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North America Low Voltage Circuit Breaker Market Analysis

Report ID: GMI8681
Published Date: Mar 2024
Report Format: PDF

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North America Low Voltage Circuit Breaker Market Analysis

North America Low Voltage Circuit Breaker Market Size, By Product, 2022 - 2032 (USD Billion)

Based on product type, molded case circuit breaker (MCCB) market across North America is anticipated to reach USD 1.3 billion by 2032, which can be attributed to their versatility, high interrupting rating, and ability to provide both overload and short-circuit protection. These circuit breakers offer reliable protection against overloads, short circuits, and ground faults, making them suitable for various electrical distribution systems. Additionally, compact size, ease of installation, and advanced features, such as adjustable trip settings and remote-control capabilities, make them an attractive choice for power distribution.

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The commercial sector will witness more than 7.5% CAGR through 2032. This surge is attributed to increasing construction activities, particularly in the commercial real estate segment, including office buildings, retail spaces, and hospitality establishments. With rising demand for reliable electrical distribution systems to support these structures, there's a heightened need for low voltage circuit breakers. Additionally, renovations and upgrades in existing commercial facilities contribute to market expansion as businesses prioritize safety, efficiency, and compliance with building codes and regulations.

U.S. Low Voltage Circuit Breaker Market Size, 2022 – 2032 (USD Billion)

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U.S. low voltage circuit breaker market valuation cross USD 3.5 billion by 2032, owing to a well-established electrical infrastructure, a thriving construction sector, and stringent safety regulations. As the US electrical grid continues to expand and modernize, the demand for reliable circuit protection solutions has increased. Strict safety standards enforced by organizations such as the National Electrical Code (NEC) and the Occupational Safety and Health Administration (OSHA) have also contributed to the market's growth. Additionally, the growth of residential, commercial, and industrial construction projects has further stimulated the need for low voltage circuit breakers.

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of North America low voltage circuit breaker was reached USD 2.2 billion in 2023 and is set to expand at 8.2% CAGR from 2024 to 2032, driven by the rising demand for dependable and efficient circuit protection across residential, commercial, and industrial sectors.

The molded case circuit breaker (MCCB) segment is poised to generate more than USD 1.3 billion by 2032, driven by their versatility, high interrupting rating, and ability to provide both overload and short-circuit protection.

U.S. low voltage circuit breaker industry size is projected to surpass USD 3.5 billion by 2032, owing to presence of a well-established electrical infrastructure, a thriving construction sector, and stringent safety regulations.

Some of the key companies operating in the North America low voltage circuit breaker market include ABB, C&S Electric, Carling Technologies, Inc., CHINT Group, Danfoss, Eaton, GE, Hager Group, Hubbell Incorporated, Legrand, LS Electric, Mitsubishi Electric Corporation, Panasonic Corporation, Rockwell Automation, Schneider Electric, Siemens, and WEG.