Middle East Molded Case Circuit Breakers Market Size, Share & Trends Analysis Report By Rated Current, By End Use (Power Utilities, Industrial, Residential & Commercial), By Region, And Segment Forecasts, 2024 - 2030

Report Overview

The Middle East molded case circuit breakers market size was valued at USD 649.3 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2030. The key factors driving market growth are the growing demand for electricity, rapid economic growth, increasing urban population, and continuous technological advancement. Furthermore, a growing focus on increasing the functionality of power system apparatus to facilitate system asset management and improved electrical power quality is expected to fuel the Middle East MCCB industry.

The focus on enhancing the efficiency of the electrical system in the region is driving the market further. Modern MCCBs offer essential circuit protection with added advanced functionalities. They are advancing further with features such as digital communication capabilities and enhanced protection systems. This shift towards smart and interconnected electrical systems aligns with the broader trend of smart grid progression in the Middle East. These advanced MCCBs improve system monitoring and control for more efficient power management and enhanced electrical power quality. Ultimately, the growing emphasis on safety protocols and rules is essential for propelling the expansion of the MCCB sector.

Increasing industrialization and demand from utilities and planned construction and infrastructure projects, particularly in Saudi Arabia, Qatar, and Dubai, are projected to impact regional growth positively. Growing demand for intensive R&D has led to the development of sophisticated high-end products that are delivered for ease of use and to provide control for meeting process requirements. This has significantly widened the scope for advanced MCCBs, which is expected to spur demand over the forecast period.

Strict regulations mandating high-quality electrical equipment create a favorable environment for incorporating MCCBs. These circuit breakers provide enhanced protection against electrical faults, safeguarding individuals and equipment from potential danger. Due to the continued emphasis on safety, there is a predicted rise in demand for MCCBs in the construction and industrial fields.

Rated Current Insights

Above 800A rated current dominated the market and accounted for a revenue share of 42.3% in 2023.The Middle East is experiencing a surge in infrastructure development projects and industrial growth, necessitating high-power applications. MCCBs with higher current ratings are ideal for these applications. An increasing focus on enhancing the efficiency and reliability of the electrical grid in a few developing Middle Eastern nations drives the growth of 800A-rated current. Furthermore, Middle Eastern are growing cross-border electricity trade and incorporating wind and other renewable sources, causing increased demand for old networks.

The 250A - 800A rated current is expected to register the fastest CAGR of 7.7% over the forecast period. The 250A-800A rated current is used in heavy industry and other sectors. Increasing industrial operations and major infrastructure undertakings will require safeguarding substantial machinery and distribution networks, leading to increased need. Furthermore, the segment will be driven by high power demands due to commercial and residential construction growth. This section appeals to a broader range of uses than more expensive breakers, appealing to many players in the growing Middle Eastern market.

End Use insights

The power utilities segment accounted for the largest revenue share in 2023. The increasing demand for electricity due to population growth and rapid urbanization necessitates robust circuit protection solutions. Power companies depend on MCCBs for effective power distribution and to avoid outages from overload or short circuits. The region's anticipated growth, rising industrialization, construction, and infrastructure projects, especially in Saudi Arabia, Qatar, and Dubai, will increase demand for power utilities.

The industrial segment is expected to register the fastest CAGR during the forecast periodEconomic diversification drives the growth of industrial segment plans, which heavily focus on expanding current industries such as oil and gas, petrochemicals, and manufacturing in the region. These industries depend on high-powered machinery and processes that demand strong circuit protection. The industrial sector in the Middle East MCCBs market is set for substantial growth due to the adoption of new technologies and industrial automation.

Regional Insights

The Middle East molded case circuit breakers market is experiencing a surge in the region due to the convergenceof infrastructure projects, industrial development, and an emphasis on grid modernization positions. Nations such as Saudi Arabia, UAE, Qatar, and Kuwait are anticipated to play a crucial role as they are experiencing a surge in projects focused on building infrastructure that necessitates substantial electrical capacity. Furthermore, the region's growing oil & gas, petrochemical, and manufacturing sectors depend heavily on powerful equipment, which requires strong MCCBs for safeguarding circuits.

Saudi Arabia Molded Case Circuit Breakers Market Trends

Saudi Arabia molded case circuit breakers market is anticipated to witness significant growth due to the country's ambitious Vision 2030 plan emphasizing infrastructure development and economic diversification. This fuels the demand for robust electrical systems. Additionally, with the growing focus on grid modernization and rising electricity consumption, reliable circuit protection solutions are essential, making MCCBs important for Saudi Arabia's expanding electrical infrastructure.

Key Companies & Market Share Insights

Some key companies in the Middle East molded case circuit breakers market include ABB, Hitachi Ltd., General Electric Company, Siemens, and Mitsubishi Electric Corporation. Manufacturers aim to develop new circuit protection solutions to fulfill customer needs. The key players are intensively investing in research and development and introducing new technology in the market.

• ABB is at the forefront of technology in electrification and automation, leading to a more sustainable and resource-efficient future. The company's solutions connect engineering expertise to enhance the manufacturing, transportation, energy, and operations processes.

• Hitachi Ltd (Hitachi) is a global company that operates in various sectors, such as information technology, electronics, power systems, social infrastructure, industrial systems, and construction machinery. The company produces and markets a wide range of products, including information and telecom systems, power systems, social infrastructure and industrial systems, construction machinery, electronic systems and equipment, automotive systems, and smart life and eco-friendly systems.

Recent Developments

• In May 2024, ABB has announced it has signed an agreement to acquire Siemens' Wiring Accessories business in China. In the agreement, ABB is acquiring wiring accessories, smart home systems, smart door locks, and further peripheral home automation products, which will continue with the Siemens brand under a licensing agreement.

• In May 2023, Siemens acquired Mass-Tech Controls' electric vehicle division to enhance its e-mobility services in India. This acquisition strengthens Siemens' capability to address India's fast-growing demand for electric vehicle charging infrastructure, expand local market presence, and create an export hub.

Middle East Molded Case Circuit Breakers Market Report Scope

Middle East Molded Case Circuit Breakers Market Report Segmentation

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the Middle East molded case circuit breakers market report based on rated current and end use:

• Rated Current Outlook (Revenue, USD Million, 2018 - 2030)

  • 0A - 75A

  • 75A - 250A

  • 250A - 800A

  • Above 800A

• End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Power Utilities

  • Industrial

  • Residential and Commercial

  • Others

• Country Outlook (Revenue, USD Million, 2018 - 2030)

  • South Africa

  • Saudi Arabia

  • UAE