LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global molded case circuit breakers market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global molded case circuit breakers market will grow at a CAGR of over 6% during the forecast period. The increased electrification rate globally is a major factor driving the market’s growth.
With the growth in urban areas and increase in demand for power in industries owing to rising penetration of digitization and automation, power demand has been on the rise. While power generation sources are witnessing a change, as distributed energy sources and clean energy fuels are gradually increasing their part in power generation mix, much importance has not been paid on transmission and distribution side of the power network. In regions such as Asia and Africa, developing economies and low-income nations are one of the most disrupted nations having a poor distribution network, thus susceptible to frequent power outages and losses. To solve this issue, many nations, either on a standalone basis or in partnership with organizations, are working on power distribution projects.
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In this report, Technavio highlights the emergence of high-performance polyamides as one of the key emerging trends in the global molded case circuit breakers market:
Emergence of high-performance polyamides
As end-users are demanding MCCBs with more endurance power, better aesthetics, and smaller cases, electrical systems are now becoming smaller. Majority of MCCBs are made of thermoset bulk-molding compounds, which undergo a permanent change when subjected to molding. To manufacture MCCBs, this has led to a switch from thermoset bulk-molding compounds to engineering thermoplastic-based solutions. Engineering thermoplastics aid in improving process economics by reducing costs, particularly for low-rated systems. They also provide new designs with reduced wall thickness. As engineering thermoplastics are reversible and can be reset, any rework material can be reverted to the process.
“Players in the market can achieve improvements in manufacturing MCCBs in terms of temperature endurance power and size reduction due to new developments in polyamides. For example, Solvay Engineering Plastics offers Technyl, an advanced polymer resin designed for electrical applications. This polyamide offers halogen-free fire performance, has no corrosion drawback, and absorbs 40% less moisture than other polyamides,” says a senior analyst at Technavio for research on automation.
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Global molded case circuit breakers market segmentation
This market research report segments the global molded case circuit breakers market into the following products (MCB and MCCB), end-users (power utilities, manufacturing and process industry, residential and commercial sector, transportation industry, and data centers), and key regions (the Americas, APAC, and EMEA).
The power utilities segment held the largest market share in 2017, accounting for nearly 40% of the market. The market share for this end-user is expected to increase by 2022. The fastest growing end-user is data centers, which will account for nearly 9% of the total market share by 2022.
APAC was the leading region for the global molded case circuit breakers market in 2017, accounting for a market share of nearly 44%. By 2022, APAC is expected to continue dominating the market and register the highest growth rate.
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