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NEW YORK , Aug. 29, 2023 /PRNewswire/ -- The miniature circuit breaker market size in North America is estimated to increase by USD 75.89 million from 2022 to 2027, with a CAGR of 5.22%, according to a recent market study by Technavio. The high demand for miniature circuit breaker from industries is notably driving market growth. The robust industrial presence within North America has led to the widespread adoption of standardized, high-quality miniature circuit breakers in the region. Key sectors like manufacturing and automotive prioritize safety and efficiency, driving the utilization of advanced miniature circuit breakers for effective circuit protection. The prevalence and expanding footprint of industrial domains, including manufacturing, power, oil and gas, and chemicals, contribute significantly to North America's industrial landscape. Notably, prominent vendors like Rockwell Automation and ABB offer miniature circuit breakers tailored for industrial applications. For instance, Rockwell Automation provides thermal-magnetic miniature circuit breakers suitable for various industries such as semiconductors, ensuring circuit protection. This prominent demand for miniature circuit breakers from diverse industries in North America is projected to drive market growth during the forecast period. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report Motor Breaker
The miniature circuit breaker market in North America report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below -
ABB Ltd., CBI Breakers, Eaton Corp. Plc, Legrand SA, LS ELECTRIC Co. Ltd., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Zhejiang CHINT Electrics Co. Ltd. Download Sample
Chart & Data Table on 5-Year Historic (2017-2021) Market Size, Comparative Analysis of Segments, and Y-O-Y Growth of miniature circuit breaker market in North America
The market is segmented by application (Residential, Commercial, and Industrial) and type (Type B, Type C, Type D, and Others)
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Significant Miniature Circuit Breaker Market Trends in North America - Technical advancements in miniature circuit breakers are an emerging market trend.
Major Miniature Circuit Breaker Market Challenge in North America
The volatility in raw material prices of miniature circuit breakers may hinder market growth. The manufacturing of miniature circuit breakers primarily relies on two common raw material combinations: steel and brass, or steel and copper. While aluminum is expected to gradually replace copper in certain applications, copper is projected to retain its dominance in electrical equipment components. The irreplaceable attributes of copper, including its high electrical conductivity, durability, resistance to stress with minimal wear, and exceptional ductility and tensile strength, solidify its role in miniature circuit breaker construction. However, the volatility in raw material prices, particularly copper, exerts a direct influence on the profit margins of miniature circuit breaker manufacturers, posing a challenge to market growth. Notably, copper prices demonstrated a rise in March 2022 , followed by a subsequent 30% decline in Canada . As a result, the fluctuation in raw material costs is anticipated to have a detrimental impact on the growth trajectory of the market under consideration throughout the forecast period.
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About US Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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