According to the latest data released by the international market research institute Markets and Markets, the global circuit breaker market will reach US $8.7 billion by 2022, with a compound annual growth rate of 4.8%.

More and more power supply and construction 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.

According to end users, the renewable energy market is expected to grow at the highest CAGR in 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 renewable energy in the circuit breaker market. The circuit breaker is used to detect the fault current and protect the electrical equipment in the power grid.

According to the application type, the outdoor circuit breaker market occupies the largest market share in the forecast period, and will dominate the market in 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 scale in the forecast period and grow at the highest CAGR in 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) around the world make utilities plan to upgrade and build new power infrastructure. With the increase of population, the demand for construction and development activities of emerging economies in the Asia-Pacific region, the Middle East and Africa has also increased.

China is the largest construction market in the world. The the Belt and Road initiative of the Chinese government provides 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 is 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 activities in the Middle East, such as the 2020 Dubai World Expo, the United Arab Emirates and Qatar FIFA World Cup in 2022, new restaurants, hotels, shopping centers 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, resulting in more demand for circuit breakers.

However, it is also mentioned in the report that the strict environmental and safety regulations of SF6 circuit breakers may have a certain impact on the market. Incomplete joints in the manufacturing of SF6 circuit breakers will lead to leakage of SF6 gas, which is to some extent a suffocating gas. When the crushing tank leaks, SF6 gas is heavier than air, so it will settle in the surrounding environment, which may cause suffocation of operators. The United States Environmental Protection Agency (EPA) has taken measures to find a solution that can detect the leakage of SF6 gas in the SF6 circuit breaker box, because the leakage will cause damage when the arc is formed.

In addition, the remote monitoring of equipment will increase the risk of cybercrime in the industry. The installation of modern circuit breakers faces multiple challenges and poses a threat to the national economy. Smart devices contribute to the best function of the system, but smart devices may bring security threats from anti-social factors. Data theft or security violation can be prevented by bypassing security measures on remote access, which may lead to power failure and power failure. These interrupts are the result of settings in the relay or circuit breaker, which determines the response (or no response) of the equipment.

According to the 2015 Global Information Security Survey, the number of cyber attacks in the power and utility industries increased from 1179 in 2013 to 7391 in 2014. In December 2015, the network attack of Ukraine's power grid was the first successful network attack. The hackers successfully shut down 30 substations in Ukraine and made 230000 people without electricity within 1 to 6 hours. This attack is caused by malicious software, which was introduced into the utility network through online deception a few months ago. Therefore, network attacks will cause huge damage to the power infrastructure of utilities.

According to market participants, ABB, Siemens, Eaton, Mitsubishi, Toshiba, Fuji Electric, TE Connectivity, L&T, Powell and Tavrida will become the world's leading circuit breaker manufacturers.