The Middle East MCCB market size was estimated at over USD 370 million in 2014. Rising demand for electricity owing to factors such as economic growth, technological advancements, and growing urbanization are expected to drive demand over the next seven years. 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 industry is highly competitive with huge demand within application sectors. MCCBs are an integral part of any electrical system; hence, demand is directly proportional to the economic and infrastructure development in the region. Increasing concern for safety across electrical, telecommunication and automotive equipment has significantly increased the need for advanced devices, which is projected to accentuate demand.
Increasing industrialization and demand from utilities along with planned construction and infrastructure projects, particularly in Saudi Arabia, Qatar, and Dubai is projected to positively impact regional growth. 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.
Middle Eastern countries are expanding their cross-border electricity trade and integrating the wind and other renewable increasing the load flow on aging networks. For instance, in March 2015, GE announced the signing of a contract with the government of Egypt to deliver 2,683 GW of electricity. Manufacturing of technologically-advanced aerospace equipment and automation vehicles are expected to help boost the sales of these products. Higher focus on efficient and reliable power transmission coupled with the installation of new energy infrastructure in emerging economies is expected to boost the Middle East MCCB market.
Private agencies and government across the globe have mandated the incorporation of device protection components such as circuit breaker in electronic devices as they are susceptible to system failure and might lead to data loss. Thus, need to satisfy demand for electricity distribution is anticipated to trigger the industry demand. However, the high cost of raw materials can act as a restraint for the Middle East MCCB market growth.
Products analyzed in the study include thermal magnetic and a microprocessor. Thermal magnetic products accounted for over 60% of the overall revenue in 2014. Its primary function is to offer a means of manually opening a circuit and automatically open a circuit under short circuit or overload conditions. It is suited for several general-purpose applications as its temperature sensitive and automatically follows safe cable and equipment loadings.
Microprocessor market is estimated to grow at a CAGR of over 8% from 2015 to 2022. It performs several protection functions such as the short, long-term delay trip function, ground fall, and instantaneous trip function. It also offers various settings including long-time delay adjustable on current and short circuit adjustable on time and current basis.
Countries including Saudi Arabia, UAE, Kuwait and Qatar are estimated to be the key contributors to industry share. Gulf Corporation Council (GCC) countries are spending heavily on their power sector for improving generation capacity. Saudi Arabia was estimated to contribute over 40% of the overall demand in 2014. Rapid economic growth in this region across several sectors including water, power, plastic and petrochemicals is projected to fuel regional demand.
Companies operating in the Middle East MCCB market share include ABB, Hitachi, General Electric, Siemens, Mitsubishi Electric, and Havells. Various competitors prevailing in the industry are challenged to provide innovative solutions which help consumers address changing technologies, business practices, and security needs.
The regional market is highly competitive, which has led to price erosion over the past few years. Manufacturers aim at developing innovative circuit protection solutions in order to meet the customers demand. These manufacturers offer a broad range of circuit protection products for the electronics segment. Industry vendors are investing in R&D for inventing new technologies to improve efficiency. Strategic partnerships, mergers, and acquisitions are being adopted for business expansion.
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