The market for RCCB Market is expected to reach USD$ XX in 2027.
Globally, the RCCB market is projected to grow with a CAGR of 7.3% during the forecast period. RCCB is the power input of circuit breaker devices, which sense current and disconnect the circuit if there is any low voltage or unbalanced current whenever any fault occurs. These devices protect humans from shocks by disconnecting the main circuit within seconds during a short circuit. The RCCB works on Kirchhoff's current law, which states that the value of the inward current must be equivalent to the outward current; if the condition is not met, the circuit will trip and break the current flow.
There are various benefits of using an RCCB, as it offers protection from earth faults 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 reducing the chances of fire. It also offers the possibility of double termination for both busbar and cable connections. These features drive the adoption of RCCB for various end-use applications. Additionally, the increasing investments by various companies, organizations, and governments in the power and energy sectors for renewable energy production also boost the market's growth.
In 2018, the overall RCCB market was led by the Type A segment, which contributed to more than 1/4th of the market revenue globally. Type A is one of the largest segments and is highly popular in the RCCB market due to its ability to offer additional protection to Type AC, which is a very sensitive type that can get easily damaged.
The RCCB market was led by North America, as various key players based in the US and Canada, such as Honeywell International Inc., Rockwell Automation Inc., and others, were investing heavily in research and development for introducing new products. North America held more than 29.0% of the market in 2018. Additionally, the presence of high-income countries such as the US and Canada in the region drives the market. However, the 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, and L&T Limited, among others.
This research report presents the analysis of each segment from 2017 to 2027,considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2019 to 2027.
The RCCB market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global RCCB market based on network type, power input, product type, end-user, and geography. Key segments covered in the report are as follows:
The market for RCCB Market is expected to reach USD$ XX in 2027.
The RCCB Market is expected to see significant CAGR growth over the coming years, at 7.3%.
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
Schneider Electric SE, Eaton Corporation Inc., Hager Group, Havells India Ltd., HPL Electric & Power Limited. are some of the major players in the global market.