According to the research report, the global recloser market was valued at USD 1,019.33 million in 2022 and is expected to reach USD 1,755.22 million by 2032, to grow at a CAGR of 5.6% during the forecast period.
The global recloser market size, historical trends, industry advancements, segmentation analysis, new opportunities, factors controlling the market, and developments. The report analysts have provided a detailed Recloser Market segmentation assessment of the market based on type, application, and geography. Client needs with an understanding of market capacities are ensured in this analytical study.
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Deployment of smart grid technology, growing adoption of renewable energy sources, and increasing investments in the renewable energy sector. The market is expected to benefit from the rising demand for reliable and efficient power supply systems and government initiatives to improve electricity access in underdeveloped regions. The need for advanced recloser technology is also rising due to the increasing adoption of renewable energy sources, particularly solar and wind power. These trends are expected to fuel the growth of the recloser market.
List of Top Key Players:
- ABB Ltd.
- Eaton
- Siemens
- G&W Electric
- General Electric
- Schnieder Electric
- NOJA Power
- Stelmec
- Arteche
- Entec Electric & Electric
- Hubbell
- Brush Group
- Tavrida Electric
- Elektrolites
In addition to the growing demand for power supply automation, the renewable energy sub-sector has also been receiving significant investments, expected to drive market growth in recent years. The use of smart grid monitors is becoming increasingly important in managing electricity transmission from source to end-users, as it helps reduce costs while improving energy security, stability, resilience, and reliability of the power system. This trend is expected to further boost the market for smart grid monitors and related technologies in the coming years.
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In February 2022, Eaton Corporation announced the launch of its new Cooper Power series NOVA NX-T recloser, which features improved reliability, enhanced communication capabilities, and a compact design aiming at improving the efficiency and reliability of power distribution networks. Earlier this spring, Eaton and LG announced the launch of a ground-breaking project, “Residential Virtual Power Plant.”
Recloser Market Report Highlights
- Three Phase segment accounted for over significant share of the global market share in 2022 due to the high ability to handle high currents, smaller conductor size, and lower installation costs.
- The 0-15 kV is expected to hold the largest share in the recloser market due to increasing demand for safe substation equipment, particularly automatic circuit reclosers.
- Vacuum-type reclosers dominate the market owing to superior arc quenching, reliability, cost-efficiency, eco-friendliness, and recyclability. This leads to high demand for its durability, low mechanical stress, reduced cost, and safe operation.
- The electronic segment is projected to grow fastest during the study period, driven by its features, including smart grids, distribution automation systems, and the need for protection from voltage.
- Asia Pacific is poised to grow at a significant rate, owing to rising demand for reliable power supply and increasing investment in grid infrastructure to meet the growing electricity needs of its growing population.
Polaris Market Research has segmented the recloser market report based on phase type, control type, voltage rating, insulation medium, end-use, and region:
Recloser Market, Phase Outlook (Revenue – USD Million, 2019 – 2032)
- Single-Phase
- Three-Phase
- Triple Single Phase
Recloser Market, Control Outlook (Revenue – USD Million, 2019 – 2032)
- Hydraulic
- Programmable Resettable
- Electric
- Resettable Electronic
Recloser Market, Voltage Type Outlook (Revenue – USD Million, 2019 – 2032)
- High Voltage
- Medium Voltage
- Low Voltage
Recloser Market, Voltage Rating Outlook (Revenue – USD Million, 2019 – 2032)
- Up to 15 kV
- 16-27 kV
- 27-38 kV
Recloser Market, End-Use Outlook (Revenue – USD Million, 2019 – 2032)
- Oil
- Air
- Epoxy
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