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Recloser Market Size to Reach USD 2.92 billion by 2026; Increasing Industrialization to Create Lucrative Business Opportunities

December 18, 2019 | Energy & Power

The global recloser market size is expected to reach USD 2.92 billion by 2026. The increasing demand for power from the residential and commercial sectors will aid expansion of the market. The  growing transmission and distribution networks will further encourage the growth of the market during the forecast period, says Fortune Business Insights in a report, titled “Recloser Market Size, Share & Industry Analysis, 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), and Regional Forecast, 2019-2026” the market size was valued at  USD 1.89 billion in 2018 and is predicted to register a CAGR of 5.7% between 2019 to 2026.


One of the key drivers enabling the growth of the market is the increasing industrial development, which plays an essential role in aiding economic growth, which, in turn, creates new growth opportunities for the market. Furthermore, growing urbanization, per capita income and advancement in technology will further foster healthy growth of the market in the forthcoming years. In addition, rising mergers & acquisitions between leading companies and increasing investments for the expansion of new projects are factors predicted to boost the market revenue in the foreseeable future.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/recloser-market-100811


Key Segments in the Global Recloser Market



  • Phase: Under the segment, the market is divided into single-phase, three-phase, and others. Three-phase reclosers are expected to account for a maximum share during the forecast period owing to its deployment in the transmission and distribution sector of the power industry. The growing investment in strengthening gird & transmission along with distribution projects will fuel demand for three-phase reclosers in the forthcoming years. The single-phase segment is expected to witness high demand in the foreseeable future due to its deployment in power sub-stations and feeders. The other reclosers are expected to grow prominently owing to the higher feasibility, cost competitiveness, and a full range application of three-phase reclosers.

  • Control: Under the segment, the market is classified into electric, hydraulic, and others. The electric segment held an exponential share of 63.6% in 2018 and is predicted to rise radically during the forecast period. The operational features, such as higher feasibility, reliability, and accuracy in operation, will fuel demand for the electric control reclosers. The hydraulic control reclosers are predicted to account for a considerable share in the forthcoming years owing to its use in single-phase reclosers and three-phase reclosers by sensing the overcurrent through trip coils. Additionally, the advanced featured operating capabilities of the electric control reclosers, such as analytic tools, which include fault location, event recording, and oscillography functions. This factor will further boost the recloser market trends during the forecast period.

  • Voltage: Under the segment, the market is low voltage, medium voltage, and high voltage. The low voltage segment is predicted to hold the lion’s share in the market due to the wide application of low voltage reclosers in substations and feeders for overcurrent protection and fault isolation. Medium voltage and high voltage are also expected to witness significant demand owing to the expansion of transmission and distribution networks. The rising demand for low voltage in the residential and commercial sectors will aid the recloser market growth during the forecast period.

  • Interruption Type: Under the segment, the market is categorized into oil and vacuum. The vacuum type segment is predicted to lead the market in the forthcoming years due to its advantageous features such as improved reliability, cost-efficient, environment-friendly, and easily recyclable technology. Oil interrupting reclosers are expected to witness considerable growth during the forecast period owing to its extensive use in power stations and feeders, which require regular maintenance.

  • Geography: Under the segment, the market is classified into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. The market in Asia Pacific was valued at USD 0.73 billion in 2018 and is likely to remain dominant during the forecast period. The growing investment in the commercial sector and rising industrialization will facilitate growth in the region. The expansion of transmission & distribution network and growing renewable power generation will further support the growth in Asia Pacific. North America is predicted to witness substantial growth in the forthcoming years owing to the focus towards strengthening grid projects in the region.


Rising Emphasis on Technological Advancements by Leading Players to Spur Sales Opportunities


The leading players are focusing on the integration of advanced features in the reclosers such as cyber-security, real-time monitoring and control, interoperability, and functioning of demand response. For instance, ABB provides the RER620 model, which provides enhanced safety, more flexibility, ease of integration, and reduced operating costs. Additionally, growing technological advancement will give the market players a competitive edge, thus boosting the recloser market growth.


Some of the Major Companies Operating in the Global Recloser Market Include:



  • ABB

  • Eaton

  • Schneider Electric

  • Siemens

  • S&C Electric Company

  • G&W Electric Co.

  • NOJA Power

  • ENTEC Electric & Electronic

  • Tavrida Electric Global

  • Arteche

  • BRUSH Group

  • Iljin Electric

  • GE

  • Hughes Power System

  • Solomon Corporation


Industry Development



  • October 2019: Noja Power added IPv6 protocol capability to its range of Automatic Circuit Recloser products. It is well-equipped with handling future networking requirements and includes the Internet of Things (IoT), Intelligent Electronic Devices (IEDs), and NOJA Power RC Series Controls.

  • June 2018:  Noja Power developed a software tool for remote firmware, which is an up-gradation of RC10 and RC15 controllers. It allows upgrading their field devices to the advanced features without visiting the site and providing a cost-efficient solution to the utilities.


The Global Recloser Market is Segmented into:














































 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)



 

Recloser Market
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