The Middle East molded case circuit breakers (MCCB) market size is projected to value at USD 652.4 million by 2022, according to a new report published by Million Insights. The rising demand for reliable power and electricity delivery along with insufficient electric power infrastructure is likely to augment demand. The growth of smart grids in power distribution and transmission systems is expected to boost the market growth.
Widespread demand for power infrastructure to offer efficient operation of distribution and transmission has grown dynamically in recent years. The increasing need for better power infrastructure, as old transmission cannot load the bulk power presently needed, is anticipated to fuel the demand in the next seven years.
The growing power transmission and distribution system and the emergence of heavy industries like oil & gas, steel, petrochemicals, and other metals is anticipated to have a positive impact on the market. Introduction and completion of major projects such as economic cities and commercial centers integrated with the replacement of inefficient and old instruments is projected to surge regional demand.
The key players in the Middle East MCCB market include ABB, Mitsubishi, Hitachi, Havells, Eaton, Siemens, and General Electric. Companies are focusing at manufacturing advanced circuit protection solution to fulfill consumers’ demand. For instance, ABB, in August 2015, won order valued at USD 150 million by the Saudi Electric Company (SEC) in order to expand five substations, thereby, ensuring the onset of the region’s transmission system for around 50 percent widening of power generation capacity to hold an emerging economy.
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Further key findings from the report suggest:
• The thermal magnetic strip-based MCCBs held a share of above 60% of the total revenue in 2014. Their feature of inverse time tripping during overload situation is preferred for different applications from heavy industrial to residential loads. Moreover, they have application for various general-purpose activities since they are automatically follow safe equipment and cable loadings.
• Microprocessor segment is expected to observe spurring demand by 2022. It is an important part of electronic trip unit (ETU) and facilitates various protection functions like long-term delay trip function, instantaneous trip function, ground fall, and short. This technology is predicted to replace traditional systems registering a CAGR of above 8.0% over the forecast period.
• Saudi Arabia held the leading regional market in 2014 and is likely to register a CAGR of above 7.0% over the projected period. The growing government initiatives for higher power generation capacity are anticipated to positively impact the regional market. For example, the Saudi government is anticipated to spend around USD 65 billion by 2017 for higher power generation by 18,00 MW. Further, it is expected to install 234 transfer platforms coupled with 20,000 km of transmission channels.
Million Insights has segmented the Middle East MCCB market on the basis of product and region:
Middle East MCCB Product Outlook (Revenue, USD Million, 2012 - 2022)
• Thermal Magnetic
Middle East MCCB Regional Outlook (Revenue, USD Million, 2012 - 2022)
• Saudi Arabia