Global Recloser Market
Global Recloser Market Size Set to Touch USD 2.3 Billion by 2029
Published | 28 February 2023
Global recloser market is flourishing because of increasing power consumption and rising automation across industry verticals in the world.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global recloser market size at USD 1.56 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Global Recloser Market size to grow at a significant CAGR of 5.7% reaching a value of USD 2.28 billion by 2029. Major growth drivers for global recloser market include rising demand for power and automated power distribution as well as increased expenditures in smart grids. Similarly, increasing industrialization and network expansion of transmission and distribution (T&D) networks are fueling the global recloser market. Also, rising urbanization and development across numerous industries, as well as stable economic growth, are increasing demand for power, leading in greater deployment of reclosers. Technology developments in microprocessor systems, as well as the expansion of transmission and distribution networks, are also propelling the worldwide recloser market forward. Also, the expanding privatization of the power sector, increased regulatory attention on uninterrupted power supply and rising expenditures in distribution automation and grid modernization, as well as technological advancements and improvements in power quality and reliability, are projected to drive the worldwide recloser market in the coming years. However, poor infrastructural facilities and cheap substitutes are anticipated to restrain the growth of global recloser market during the period in analysis.
Global Recloser Market – Overview
Reclosers are electrical devices that are employed in an electric distribution network to prevent long-term outages by minimizing transitory faults before operation or fuses. It is referred to as an extreme voltage automatic electric switch that shuts down when there is a power outage. It operates by sensing a problem and then shutting off electricity; if the fault is remedied, the recloser returns, but if not, the permanent shutdown occurs. It is designed to detect temporary problems and interruptions in electricity distribution networks, saving money and avoiding the inconvenience that frequent power outages would create. The recloser may automatically reset the temporary fault as well as the electric power. In the re-occurrence scenario, the recloser cuts off the power to prevent an accident three times or more. It can identify faults and resets in real time to unlock the line. Reclosers are classified into three varieties based on their phase: triple single reclosers, single-phase reclosers, and three-phase reclosers. Reclosers work on a hydraulic mechanism and have a separate coil series with the line. The current signal is collected by the control mechanism, which is located outside the reclosers.
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Impact of COVID-19 on Global Recloser Market
COVID-19 had a detrimental impact on global recloser market as employees are being asked to work from home and production sectors are temporarily closed. Hence, numerous companies have limited their manufacturing and supply activities, putting a stop to the need for recloser. However, power demand increase, development of transmission and distribution (T&D) networks and rising investments in the renewable energy sector and smart grid projects are a few of the factors driving market growth throughout the projection period. Also, rising technological developments and other strategic alliances among industry major players would generate a lucrative demand for this market.
Global Recloser Market – By Voltage Rating
Based on voltage rating, global recloser market is divided into 15 kV, 27kV, and 38Kv segments. The 15 kV segment is expected to hold the highest market share during the period in analysis. The 15 kV is a voltage rating revolution subclass that is typically utilized in home applications and rural distribution lines. The residential sector has expanded overall as a result of the manufacturing sector's rise, which is expected to increase demand for 15 kV recloser. The market for reclosers with voltage ratings of 15 kV is expected to grow as a result of the increasing expansion of electrical distribution networks and distribution utilities' efforts to prevent power outages in the residential sector. Renewable energy investments, as well as the rising industrial and commercial sector, which includes massive malls, hospitals, and hotels, are expected to fuel the demand for 15 kV reclosers.
Major players operating in global recloser market include ABB, Eaton, Siemens, G&W, GENERAL ELECTRIC, Schneider Electric, NOJA Power Switchgear Pty Ltd, Stelmec, ARTECHE, ELECTRIC&ELECTRONIC CO. LTD., Brush Group, Elektrolites, Ghorit Electricals, and Iljin Electric. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Recloser Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Recloser Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Recloser Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Phase (Single Phase, Three Phase); By Control (Electronic, Hydraulic); By Interruption (Oil, Vacuum); By Voltage Rating (15 kV, 27 kV, 38 kV); By Region (North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA))
Publish Date: February 2023
Rising power consumption and increasing automation are projected to propel the expansion of global recloser market during the forecast period between 2023 and 2029.
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