The global recloser market accounted for a value of USD 1.7 billion in 2019 and is projected to register growth at a CAGR of 4.3% during forecast period.
COVID-19 has impacted the recloser market. The oil & gas industry is adversely impacted due to this ongoing pandemic. The manufacturing industries have to halt its production activities due to lockdown. The supply chain is disrupted due to travel restriction. The ongoing projects are halted which has impacted recloser market significantly. This market will recover after all the projects start post COVID-19.
For more details, visit: Global Recloser Market By Phase (Single Phase, Three Phase and Triple Single Phase), By Control Type (Electronic and Hydraulic), By Voltage (up to 15 KV, 16-27 KV and 28 -38 KV), By Region, Forecast & Opportunities to 2026
The requirement for an efficient power distribution network and for no manual intervention for restoring power is increasing around the world. Many companies are adopting recloser device for cost reduction at the time of an outage. This increases demand for recloser device and drives growth for this market during forecast period.
On the basis of phase, the recloser market is segmented into single phase, three phase and triple single phase. The triple single phase segment is estimated to dominate the market during forecast period. The existing three-phase reclosers are getting replaced by triple single phase. Triple single phase is widely used in various regions such as North America etc. Triple single phase have improved system average interruption frequency index, which is a system index of the average frequency of interruptions in power supply and system average interruption duration index, which is the average duration of interruption per consumers during the year. Large amount is spending in this market over few years. This drives growth in triple single phase segment during forecast period.
On the basis of voltage, the recloser market is segmented into up to 15 KV, 16-27 KV and 28 -38 KV. The up to 15 KV segment is estimated to hold largest market share during forecast period. The up to 15 KV segment is largely used in rural distribution lines and residential applications. The industrialization and urbanization is increasing around the world. The application of this segment in commercial, industrial and residential is rapidly increasing and the investment is increasing in smart grid projects. Various countries such as India, China, South Korea and Australia are rapidly adopting this segment. This drives growth in up to 15 KV segment during forecast period.
On the basis of voltage, the recloser market is segmented into electronic and hydraulic. The electronic segment is estimated to dominate the market during forecast period. The features such as operational, easy customization and flexibility are likely to increase the demand of electronic recloser. The conventional hydraulic recloser is getting replaced by electronic recloser system around the world. This drives growth in electronics recloser market during forecast period.
Asia-Pacific region is estimated to dominate the market during forecast period. The demand and adoption for recloser system is increasing as the demand for electrical energy is increasing in this region. The population is increasing rapidly and urbanization is increasing consumes high electricity. The industrialization is also increasing rapidly in this region. The need for power reliability is rising and investment in smart grid infrastructure projects is increasing. This results in high demand for recloser market and drives growth in Asia-Pacific region during forecast period.
The key market players in recloser market are ABB, Eaton, Schneider Electric, Siemens, Hubbell, S&C Electric Company, Tavrida Electric, Entec Electric & Electronic, G&W Electric, Noja Power, Elektrolites, Ghorit Electricals, Hughes Power System, Brush Group, Ningbo Tianan Group and Arteche Group.
- What are the expected industry trends over the next three to five years?
- Which of the recloser phase is likely to lead by 2025?
- Which of the control type segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?