The scale of global circuit breakers will reach 8.7 billion U.S. dollars by 2022, with a compound annual growth rate of 4.8%

According to data released by the international market research organization Markets and Markets, the global circuit breaker market will reach 8.7 billion US dollars by 2022, with a compound annual growth rate of 4.8% during the period.
Increasing power supply and building development activities in developing countries, as well as the increase in the number of renewable energy power generation projects, are the main driving forces for the growth of the circuit breaker market.

In terms of end users, the renewable energy market is expected to grow at a relatively high compound annual growth rate during the forecast period. Increasing investment in renewable energy to curb CO2 emissions and increasing demand for power supply are the main factors driving the growth of the renewable energy sector in the circuit breaker market. Circuit breakers are used to detect fault currents and protect electrical equipment in the grid.
According to the type of application, the outdoor circuit breaker market has the largest market share during the forecast period and will dominate the market during the forecast period because they can provide space optimization, low maintenance costs and protection against extreme environmental conditions.

According to the regional scale, the Asia-Pacific region will occupy the largest market size during the forecast period and will grow at a relatively high compound annual growth rate during the forecast period.
According to the driving factors, with the continuous growth of the population, the continuous construction and economic development activities (industrial and commercial activities) on a global scale have caused public utility companies to plan to upgrade and establish new power infrastructure. With the increase in population, the demand for construction and development activities in emerging economies in the Asia-Pacific region, the Middle East and Africa has also increased.
China is the world’s largest construction market, and the Chinese government’s “One Belt One Road” initiative provides opportunities for China’s construction and development activities. According to China’s “13th Five-Year Plan” (2016-2020), China plans to invest US$538 billion in railway construction. The Asian Development Bank estimates that between 2010 and 2020, it will be necessary to invest US$8.2 trillion in national infrastructure investment projects in Asia, equivalent to nearly 5% of the region’s GDP. Due to the upcoming major planned activities in the Middle East, such as the 2020 Dubai World Expo, the UAE and Qatar FIFA 2022 World Cup, new restaurants, hotels, shopping malls and other overall buildings are under construction to promote the development of urban infrastructure in the region. The growing construction and development activities in emerging economies in the Asia-Pacific region and the Middle East and Africa will require more investment in the development of transmission and distribution infrastructure, leading to more demand for circuit breakers.

However, the report also mentioned that the strict environmental and safety regulations of SF6 circuit breakers may have a certain impact on the market. The imperfect joints in the manufacture of SF6 circuit breakers will cause the leakage of SF6 gas, which is a kind of suffocating gas to some extent. When the broken tank leaks, SF6 gas is heavier than air, so it will settle in the surrounding environment. This gas deposition may cause suffocation of the operator. The U.S. Environmental Protection Agency (EPA) has taken measures to find a solution that can detect SF6 gas leakage in the SF6 circuit breaker box, because when an arc is formed, the leakage can cause damage.
In addition, remote monitoring of equipment will increase the risk of cybercrime in the industry. The installation of modern circuit breakers faces multiple challenges, posing a threat to the national economy. Smart devices help the system to achieve better functions, but smart devices may bring security threats from anti-social factors. The security measures on remote access can be bypassed to prevent data theft or breach of security, which may cause power outages and outages. These interrupts are the result of the settings in the relay or circuit breaker, which determines the response (or no response) of the device.
According to the 2015 Global Information Security Survey, cyber attacks in the power and utility industries increased from 1,179 in 2013 to 7,391 in 2014. In December 2015, the Ukrainian power grid cyber attack was the first successful cyber attack. The hackers successfully shut down 30 substations in Ukraine and left 230,000 people without electricity within 1 to 6 hours. This attack is caused by malicious software that was introduced into the utility network through phishing a few months ago. Therefore, cyber attacks can cause huge damage to the power infrastructure of public utilities.