- Circuit breakers refer to electrical switches that shield electrical circuits from short circuits or overloads. Molded case circuit breakers (MCCBs) are embedded with temperature sensitive instruments linked with current sensitive electromagnetic devices. They have applications ranging from construction activities to consumer electronics.
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Inadequate electric power infrastructure is a key driver of the Middle East molded case circuit breakers market. Completion of construction projects in smart cities and substitution of old equipment will favor the market.
The market had a size above USD 370 million in 2014. It is projected to attain USD 652.4 million by 2022. Demand for reliable power and electricity would create further demand. Need for power stations to provide electricity in the region would also propel market sales from 2015 to 2022 (forecast phase). Expansion in power distribution & transmission systems and petrochemicals, oil & gas, and steel industries is predicted to assist the market over the next seven years.
Thermal magnetic and microprocessor MCCBs are the products of the Middle East molded case circuit breakers market. The former had 60% share in the overall revenues in 2014. They allow users to manually open the circuit board during overloads. The latter has a CAGR of more than 8% in the forecast phase. They are a critical electric trip unit component. They even execute safety operations like short and lasting delay trip, instant trip, and ground fall.
Kuwait, Qatar, United Arab Emirates (UAE), and Saudi Arabia are the regional nations, having contributed market revenues. Saudi Arabia dominated the market, with over 40% of the overall demand in 2014. It would experience a CAGR above 7% in the future. Economic growth from power, plastic, water, and petrochemicals industries is expected to spur demand in the nation.
For instance, the Saudi government will invest USD 65 billion from 2014 to 2017 in power station installations along 20, 000 kilometers of transmission lines. Prominent companies in the Middle East molded case circuit breakers market comprise Siemens, ABB, Hitachi, General Electric, and Havells. In August 2015, ABB won a contract worth USD 150 million from Saudi Electric Company to expand five sub-stations.
Information Source: Grand View Research
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