"Need for Protection from Current Leakage to Ensure Rapid Growth for Residual Current Circuit Breaker (RCCB) Market"

Globally, the RCCB market is projected to grow with a CAGR of 7.3% during the forecast period. RCCB is power input of circuit breaker devices, which senses current and disconnects the circuit if there is any low voltage or unbalanced current whenever any fault occurs. These devices protect the human’s life from shocks by disconnecting the main circuit within seconds during a short circuit. The RCCB work on the Kirchhoff’s Current Law that is the value of the inward current must be equivalent to the outbound current; if the condition does not meet, the circuit will trip and breaks the current flow.

There are various benefits of using RCCB as it offers protection from earth fault in addition to any leakage current, secondly, it automatically detaches the circuit when there is high rate sensitivity, which leads to protecting the circuit from further damage and reduces the chances of fire. It also offers the possibility of double termination both for busbar and cables connections. These features drive the adoption of RCCB for various end-use applications. Additionally, the increasing investments by various companies, organizations, and government in power and energy sector for renewable energy production also boost in the growth of the market.

"RCCB in Type A in its Product Type Segment Continue Dominating the Market"

In 2020, the overall RCCB market was led by Type A segment contributing to more than 1/4th of the market revenue globally. Type A is one of the largest segment which is highly popular in the RCCB market due to their ability to offer additional protection to Type AC since Type AC is very sensitive type which can get easily damaged.

"North America Dominates the Market by Region"

RCCB market was led by North America as various key players based on US and Canada such as Honeywell International Inc., Rockwell Automation, Inc., and others, which are investing highly in research and development for introducing new products. North America holds more than 29.0% of the market in 2020. Additionally, the presence of high economic countries such as the US and Canada in the region drives the market. However, Asia-Pacific region is expected to be the fastest-growing market due to increasing infrastructure development in the region.

Some of the prominent players operating in the RCCB market include ABB Ltd., Siemens AG, Honeywell International Inc., Schneider Electric SE, Eaton Corporation Inc, Hager Group, Havells India Ltd., HPL Electric & Power Limited, Gewiss S.p.A., Rockwell Automation, Inc., Legrand SA, L&T Limited among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of RCCB market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the RCCB market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of RCCB market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the RCCB market?
• Which is the largest regional market for RCCB market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving RCCB market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the RCCB market worldwide?