The Middle East MCCB market is expected to reach USD 652.4 million by 2022, according to a new study by Grand View Research, Inc. Increasing demand for electricity and reliable power delivery coupled with inadequate electric power infrastructure is expected to fuel demand. Emergence of smart grids in power transmission and distribution systems is projected to drive the MCCB industry.
Large-scale demand for power infrastructure to provide efficient operation of transmission and distribution has increased dynamically over the past few years. Rising need to enhance the power infrastructure as aging transmission cannot support the bulk power currently required is expected to drive demand over the next seven years.
Rapid expansion of power distribution & transmission system and rapid growth of heavy industries such as petrochemicals, oil & gas, steel and other metals is expected to positively impact the MCCB market. Completion and introduction of mega construction projects including commercial centers and economic cities combined with replacement of aging and inefficient instruments is expected to spur demand across the region.
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Further key findings from the study suggest:
- Thermal magnetic strip-based MCCBs accounted for over 60% of the overall revenue in 2014. They are the most common over-current protection devices. Their characteristic inverse time tripping under overload condition is suited for varied applications from residential to heavy industrial loads. Further, they are suited for several general-purpose applications as they are temperature-sensitive and automatically follow safe cable and equipment loadings, thus leading to higher demand across the region.
- Microprocessor segment is estimated to witness robust demand by 2022. It forms an integral part of electronic trip unit (ETU) and perform several protection functions such as the short, long-term delay trip function, ground fall, and instantaneous trip function. This technology is expected to heavy replace conventional systems with a CAGR of over 8.0% from 2015 to 2022.
- Saudi Arabia dominated the Middle East MCCB market in 2014, and is expected to grow at a CAGR of over 7.0% from 2015 to 2022. Increasing government initiatives for increasing power generation capacity are expected to favor the regional market. For instance, the Saudi government is expected to spend over USD 65 billion from 2014 to 2017 to increase power generation by 18,000 MW and to install 234 transfer stations along with 20,000 km of transmission lines.
- Middle East MCCB market share is occupied by companies such as General Electric, Siemens, ABB, Hitachi, Eaton, Havells, and Mitsubishi. Manufacturers aim at developing innovative circuit protection solutions to meet the customers’ demand. In August 2015, ABB won orders worth USD 150 million from the Saudi Electric Company (SEC) for expanding five existing substations, thus helping to ready the region’s transmission system for a 50 percent expansion of power generation capacity to accommodate a growing economy.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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