Recloser Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Recloser Market

The recloser market size was valued at USD 1.89 billion in 2018, and the market is now projected tgrow tUSD 4.16 billion by 2032, exhibiting a CAGR of 5.87% during the forecast period of 2019-2032.

The recloser market was influenced by COVID-19 mainly in terms of disruptions in manufacturing and supply chain and slowing down of infrastructure projects due tlockdown and restrictions. Some of these challenges include; The above challenges resulted inta demand drop for the reclosers for some time. Yet, the market went up when economies started regaining growth as restrictions continue tlessen, with more investments now going tmodernize the grid and allow the integration of new renewable energy sources. This kept the recloser market growth stable.

The higher growth of the market has helped tincrease the share of the recloser with the help of higher investments for the deployment of distribution automation and grid modernizing projects. An overview of the T&D industry in the IEA’s report suggests that, the amount likely tbe spent on T&D infrastructure over the forecast period 2016-2040 is USD 8.9 trillion. This boosted the recloser market share.

An important factor which defines the recloser market is the growing role of smart grid and automation. Contemporary reclosers are increasingly being installed with smart communication interfaces and Internet of Things (IoT) tallow monitoring and control from a distance and precise prognosis of corrections. These smart reclosers increase the grid reliability and minimize the outage time since they self-trip the faulty section and re-circuit the power flow. Also, the increase in the integration of renewable sources of power, especially solar and wind energy has increased the pressure on the need thave intelligent reclosers tmanage varying power loads. This trend correlates with the key trend of the global transition tdigitalized and sustainable energy infrastructure.

Comprehensive Analysis of Recloser Market

The recloser market is responding quite an unprecedented rate of growth because of its market segmentation. This indicators growth in different regions by substituting the major forces of supply and demand which define the shape of local pharmacy benefit management market. Therefore, they are logically divided int4 Segments, by phase analysis, control analysis, by voltage analysis and interruption type analysis. Depending on the phase segment, the recloser market is divided intsingle phase, three phase and others. Normally, three-phase reclosers are widely used in electric power transmission and distribution system in the power system industry. Tpromote the growth of three-phase reclosers market, more investment will be made on the grid transmission and distribution projects. The market, based on the control segment, has been further divided as electric, hydraulic and others. The scale unveiled rising demand because of high feasibility, reliability and accuracy in operation. According tthe voltage segment, the recloser market has been classified intlow voltage segment, medium voltage segment and high voltage segment. Due tbroad use of low voltage reclosers in substations and feeders for overcurrent protection as well as fault isolation, low voltage segment is expected tdominate the global market. Depending on the interruption type, it differentiates the market intoil and vacuum type. This segment has advantages of vacuum type and therefore is dominating the overall market. These are: better arc quenching property, enhanced reliability, cost effective, ecofriendly, and easily reusable technology.

The market size in Asia Pacific had a considerable presence in the global market. This is due tthe increasing structure and funding. As the industrialization is progressing at a faster pace and the network and distribution of transmission channels are alsevolving rapidly, the renewable power generation is alson the rise, these are the factors that will enhance the recloser market trends in Asia Pacific.

ABB [Switzerland], Eaton [Ireland] , Schneider Electric [France], Siemens [Germany], S&C Electric Company [U.S.], G&W Electric Co. [U.S.], NOJA Power [Australia], ENTEC Electric & Electronic [South Korea], Tavrida Electric Global [Switzerland] , Arteche [Spain], BRUSH Group [U.K.], Iljin Electric [South Korea], GE [U.S.], Hughes Power System [Sweden], Solomon Corporation [U.S.] are significant players in the Power market. They are the key player that ensures the industry's success while still having tkeep pace with their innovation in product and services. They offer a competitive zone that incites the growth of technologies and quality assurance. They operate on a global scale and have a wide range of product lines ensuring that the market players compete on a fair playing field bringing in innovations that result in the market's evolution.

In July 2021, CPS Energy begins an ARM, a 4-year Accelerated Recloser Deployment Program, by which the company will deploy 144 recloser devices in San Antonio, Texas. CPS Energy strongly believes that this program will enable it sectionalize circuits for enhanced control and focus, conduct fault tests tgrids, and improve reliability and business resilience.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Historical Period 2015-2017

Unit Value (USD Billion)

Segmentation By Phase

Single-phase

Three-phase

Others

By Control

Electric

Hydraulic

Others

By Voltage

Low Voltage

Medium Voltage

High Voltage

By Interruption Type

Oil

Vacuum

By Region

North America (U.S. and Canada)

Latin America (Brazil, Mexico, and Rest of Latin America)

Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe)

Asia-Pacific (China, India, Japan, Australia, Southeast Asia, and Rest of Asia-Pacific)

Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa)