According to the latest data released by markets and markets, the International Market Research Institute shows that the global circuit breaker market will reach 8.7 billion US dollars by 2022, with a CAGR of 4.8% in the period.
The increasing power supply and construction development activities in developing countries, as well as the increase in the number of renewable energy generation projects, are the main drivers of the growth of the circuit breaker market.
By end-users, the renewable energy market is expected to grow at the highest compound annual growth rate 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. Circuit breakers are used to detect fault current and protect electrical equipment in the grid.
According to the application type, outdoor circuit breaker market occupies the largest market share in the forecast period, and will dominate the market during the forecast period, because they can provide space optimization, low maintenance cost and protection against extreme environmental conditions.
According to the regional scale, Asia Pacific region will occupy the largest market size in the forecast period and increase at the highest compound annual growth rate in the forecast period.
Driven by the growing population, the continued global construction and economic development activities (industrial and commercial activities) have led utilities to plan to upgrade and build new power infrastructure. With the increase of population, the demand for construction and development activities has increased in the Asia Pacific region, emerging economies in the Middle East and Africa.
China China one belt, one road, is the largest building market in the world. The Chinese government's "one belt and 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 $538billion in railway construction. The Asian Development Bank estimates that between 2010 and 2020, it is necessary to invest $8.2 trillion in Asia for national infrastructure investment projects, equivalent to nearly 5 per cent of the region's GDP. Due to the upcoming major planned activities in the Middle East, such as Dubai Expo 2020, the world cup of 2022 World Cup in UAE and Qatar, new restaurants, hotels, shopping centers and other overall buildings are being built to promote the development of urban infrastructure in the region. The growing construction and development activities in emerging Asia Pacific economies and the Middle East and Africa will require more investment in the development of transmission and distribution infrastructure, leading to increased demand for circuit breakers.
However, it is also noted that the strict environmental and safety regulations of SF6 circuit breakers may have some impact on the market. The imperfect connection in the manufacture of SF6 circuit breaker will cause the leakage of SF6 gas, which is a kind of suffocation gas to some extent. 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 EPA has taken steps to find a solution that can detect the leakage of SF6 gas in the circuit breaker box of SF6 circuit breaker, because the leakage will cause damage when the arc is formed.
In addition, the remote monitoring of equipment will increase the risk of network crime in the industry. The installation of modern circuit breaker faces multiple challenges, which poses a threat to the national economy. Smart devices help the best function of the system, but smart devices can bring security threats from anti social factors. Data theft or security violations can be prevented by bypassing security measures on remote access, which can lead to power outages and power outages. These interrupts are the result of the setting in the relay or breaker, which determines the response (or no response) of the device.
According to the 2015 global information security survey, the number of cyber attacks in the power and utility industry increased from 1179 in 2013 to 7391 in 2014. In december2015, the Ukraine grid network attack was the first successful network attack. Hackers have successfully shut down 30 substations in Ukraine and have left 230000 people powerless in 1 to 6 hours. This attack was caused by malware, which was introduced into the utility network by spoofing online a few months ago. Therefore, network attack will cause great damage to the power infrastructure of public utilities.
By market participants, abb, Siemens, Eaton, Mitsubishi, Toshiba, Fuji motor, te connectivity, L & T, Powell and TAVRIDA will become the world's leading circuit breaker manufacturers.