The Global Recloser Market Size is valued at 1.10 billion in 2022 and is predicted to reach 1.73 billion by the year 2031 at a 5.3% CAGR during the forecast period for 2023-2031.
Reclosers are electrical devices used in an electric distribution network to prevent long-term outages by reducing transient faults prior to operation or fuses. It is a high-voltage automatic electric switch that shuts down when there is a power loss. It works by sensing a problem and then turning off the power; if the issue is fixed, the recloser returns, but if not, the permanent shutdown happens. It is intended to detect transient faults and interruptions in electricity distribution networks in order to save money and reduce the inconvenience caused by frequent power outages.
Growing urbanization and technical advancement, which allow for more industrialization and commercialization in the country, are significant drivers driving energy consumption. Industry development is critical to economic growth, including the competition scenario, consumer spending capabilities, mergers and acquisitions, partnership and collaboration, investments, and expansion of new projects. Increasing power demand allows utilities to develop additional transmission and distribution networks, resulting in the need for more reclosers in the power industry.
However, COVID-19 negatively influenced the worldwide recloser industry since employees were requested to work from home, and production sectors were temporarily shut down. As a result, several companies have reduced their manufacturing and supply activities, eliminating the need for a recloser.
Competitive Landscape:
Some of the Recloser Market players are:
- ABB
- Eaton Corporation
- Schneider Electric
- Siemens
- Noja Power
- Hubbell
- S&C Electric Company
- Tavrida Electric
- Entec Electric & Electronic
- G&W Electric
- Brush Group
- Electrolytes
- Ghorit Electricals
- Iljin Electric
- Hughes Power System
- Ningbo Tianan Group.
Market Segmentation:
The Recloser Market is segmented on the basis of phase type, control type, voltage grade, and insulation medium. Based on phase type, the market is segmented into three phases, single phase and triple-single phase. The control type segment includes electronic and hydraulic. By Voltage Grade, the market is segmented into up to 15KV, 16-27 KV, and 28-38 KV. The medium insulation segment includes oil, air, and epoxy.
Based On Control Type, The Electronic Segment Is Accounted As A Major Contributor In The Recloser Market
The electronic category is expected to hold a major share of the global Recloser Market in 2022. The increased demand for the electric section is due to its operational characteristics, such as higher feasibility, dependability, and accuracy in operation. It is easily customizable and includes comprehensive security, metering, and automation features. Microprocessor-based and electronic control reclosers are also included in this sector. It has extensive operational features such as analytic tools, which include fault location, event recording, and oscillography functions.
The Oil Segment Witnessed Growth At A Rapid Rate
The Oil segment is projected to grow at a rapid rate in the global Recloser Market owing to its favorable features. Some of the benefits include improved arc quenching properties, increased reliability, cost-effectiveness, environmental friendliness, and easily recyclable technology. Oil-interrupting reclosers are used in power stations and feeders that must be serviced on a regular basis. Reduced customization capabilities, oil properties that alter with temperature, and non-programmable features may restrict demand for the oil recloser market throughout the projection period.
In The Region, Asia Pacific Recloser Market Holds A Significant Revenue Share
Asia Pacific Recloser Market is expected to register an increased market share in terms of revenue soon. The rising pace of industrialization, transmission and distribution network growth, and renewable power generation are the primary factors projected to drive Asia Pacific recloser market trends. According to the Renewables 2018 report, global investment in renewable energy was USD 279.8 billion, representing a 2% increase over 2016.
The significant potential for producing power and replacing aging power infrastructure for grid-strengthening projects in North America may increase the region's market. European countries have made significant contributions to industrialization, which has contributed to the region's economic prosperity. The primary countries involved in expanding sustainable industrialization in Europe are the United Kingdom, Germany, Norway, Italy, and Russia.
Recloser Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 1.1 Bn |
|
Revenue forecast in 2031 |
USD 1.7 Bn |
|
Growth rate CAGR |
CAGR of 5.3 % from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, Volume (Unit) and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Phase Type, Control Type, Voltage Grade, And Insulation Medium |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
ABB, Eaton Corporation, Schneider Electric, Siemens, Noja Power, Hubbell, S&C Electric Company, Tavrida Electric, Entec Electric & Electronic, G&W Electric, Brush Group, Elektrolites, Ghorit Electricals, Iljin Electric, Hughes Power System, and Ningbo Tianan Group. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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