The global circuit breaker market will reach $8.7 billion by 2022

According to the latest data released by Markets and Markets, the global circuit breaker market will reach $8.
7 billion by 2022, with a compound annual growth rate of 4.
8%
during the period.

Increasing power supply and building development activities in developing countries and increasing number of renewable energy generation projects are the major drivers
for the growth of the circuit breaker market.

By end-user, the renewable energy market is expected to grow
at the highest CAGR during the forecast period.
Increasing investments in renewable energy to curb CO2 emissions and growing demand for power supply are the major factors
driving the growth of the renewable energy segment in the circuit breaker market.
Circuit breakers are used to detect fault currents and protect electrical equipment
in the grid.

By application type, the outdoor circuit breaker market holds the largest market share during the forecast period and will dominate the market during the forecast period as they offer space optimization, low maintenance costs, and protection
against extreme environmental conditions.

By regional size, Asia Pacific will account for the largest market size during the forecast period and grow at the highest CAGR during the forecast period
.

By driver, ongoing construction and economic development activities (industrial and commercial activities) across the globe as the population continues to grow, leading utilities to plan to upgrade and build new power infrastructure
.
With the increasing population, the demand for construction and development activities in emerging economies in Asia Pacific, Middle East and Africa has also increased
.

China is the world's largest construction market, and the Chinese government's Belt and Road Initiative offers opportunities
for China's construction and development activities.
According to China's 13th Five-Year Plan (2016-2020), China plans to invest $538 billion
in railway construction.
The Asian Development Bank estimates that between 2010 and 2020, it will be necessary to invest $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 events in the Middle East, such as Expo 2020 Dubai, FIFA World Cup 2022 in the UAE and Qatar, overall buildings such as new restaurants, hotels, shopping malls and more are being built to promote urban infrastructure development
in the region.
Growing construction and development activities in emerging economies in Asia Pacific and the Middle East and Africa will require more investment in transmission and distribution infrastructure development, leading to more demand
for circuit breakers.

However, the report also mentions that the strict environmental and safety regulations of SF6 circuit breakers may have a certain impact
on the market.
Imperfect joints in the manufacture of SF6 circuit breakers can lead to leakage of SF6 gas, which is somewhat of a suffocating gas
.
When the crusher leaks, SF6 gas is heavier than air and therefore settles in the surrounding environment, and this gas precipitation can cause suffocation
for the operator.
The U.
S.
Environmental Protection Agency (EPA) has taken steps to find a solution that can detect SF6 gas leaks in SF6 circuit breaker box because leaks can cause damage
when arcs form.

In addition, remote monitoring of devices increases the risk of
cybercrime in the industry.
The installation of modern circuit breakers faces multiple challenges and poses a threat
to the country's economy.
Smart devices contribute to the optimal functioning of the system, but smart devices can pose security threats
from antisocial elements.
Data theft or security breaches can be prevented by bypassing security measures on remote access, which can lead to power outages and blackouts
.
These interrupts are the result of settings in a relay or circuit breaker that determines the response (or no response)
of the device.

According to the 2015 State of Information Security Survey, cyberattacks in the power and utilities sector increased from 1,179 in 2013 to 7,391 in 2014
.
In December 2015, the Ukrainian power grid cyberattack was the first successful cyberattack
.
Hackers successfully shut down 30 substations in Ukraine and left 230,000 people without electricity
in 1 to 6 hours.
This attack is caused by malware, which was introduced to the utility network
through phishing a few months ago.
As a result, cyberattacks can wreak havoc
on a utility's power infrastructure.

By Market Participants, ABB, Siemens, Eaton, Mitsubishi, Toshiba, Fuji Electric, TE Con?? The likes of nectivity, L&T, Powell and Tavrida will be the world's leading manufacturers
of circuit breakers.