Global Recloser Market Size & Analysis – Forecasts to 2026 By Phase Type (Three Phase, Single Phase, Triple Single), By Control Type (Electronic, Hydraulic, Resettable Electronic, Programmable Resettable), By Voltage Rating (Up to 15 kv, 16-27 kv, 27-38 kv), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), Company Market Share Analysis, End-use landscape; Vendor Landscape and Competitive Landscape
Global Recloser Market Insights:
The global recloser market is expected to generate revenue amounting to USD 1.90 billion in 2020, and is projected to reach to USD 2.51 billion by 2026, growing at a CAGR of 4.78% over the forecast period. Reclosers are used in electronic overhead distribution systems to detect and stop temporary faults. It can protect a power system from a short circuit among others things. A recloser is essentially a switch that can re-establish an electrical circuit automatically or manually and also remotely after a distraction of service. Increasing demand of power, expansion of transmission and distribution (T&D) networks are driving the market growth for reclosers. Increasing investments in renewable energy sector and growing smart grid projects across the globe are also the key factors contributing the growth of recloser market. Rise in funding by various government bodies for renewable energy projects across various regions including North America, Europe, Asia Pacific, and Central & South America is further projected to propel the market growth of recloser. However, availability of alternative products, are likely to hamper the market growth during the forecast period.
Global Recloser Market Segmentation:
The global recloser market is segmented on the basis of phase type into triple phase, single phase, and three single phase. The triple single phase segment is expected to grow at a highest CAGR during the forecast period. Triple single phase reclosers offer different features such as improved SAIFI (System Average Interruption Frequency Index), a system index of the average frequency of interruptions in power supply and SAIDI (System Average Interruption Duration Index) among others. North America region is expected to hold a significant market share in the tripe single phase segment during the forecast period. Growing demand for renewable energy and raising smart grid projects in the region is driving the segment growth.
On the basis of controller type, the global recloser market is segmented into electronic, hydraulic, resettable electronic, and programmable resettable. The programmable resettable segment is expected to grow at a highest CAGR during the forecast period. The growing use of programmable resettable sectionalizers in three phase lateral lines would further boost the market growth.
On the basis of voltage rating, the global reclosers market is segmented into: up to 15 kv, 16-27 kv, and 27-38 kv. Up to 15 KV segment is expected to hold the largest market share during the forecast period. Up to 15 kV reclosers are widely used in residential applications and rural distribution lines. Growing urbanization, increasing investment in smart grid projects, and growing commercial, residential, and industrial sectors are some of the major factors expected to boost the voltage rating up to 15 kV segment during the forecast period. Increasing investments in distribution automation along with smart grid projects is driving the market growth for 15KV voltage segment.
Global Recloser Market: Regional Analysis
On the basis of region, the recloser market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The Asia Pacific region is expected to dominate the global recloser market during the forecast period. Increasing demand for electrical energy due to urbanization and industrialization, distribution network upgrade, and increasing need of power reliability are some of the major factors expected to propel the market growth in the region during the forecast period. Rising investments in smart grid infrastructure projects is also driving the market growth for reclosers in the Asia Pacific region. The North America region is expected to grow at a significant market share during the forecast period. According to the data published by energy.gov, U.S. and Canadian electric distribution capital expenditures will exceed USD 40 billion by end of 2020. The investments include: rebuilding existing systems, installing of new infrastructure to meet expanding residential demand, and deploying automation technologies among others. These are some of the major factors driving the market growth in the region.
Technology Landscape & Use Cases:
A recloser is an electric power or protector distribution network. It includes a circuit breaker which can easily detect an over current or short circuit network. In addition, it has a facility which can automatically switch off when it is not in use. Reclosers are used in electronic overhead distribution systems to detect and stop temporary faults. Reclosers work with a hydraulic mechanism, and it has a separate coil series with the line.
In January 2020, Siemens launched new Compact Modular Recloser (CMR). These reclosers are cost-effective, reduced-maintenance alternative to single-phase, and oil-filled reclosers.
In January 2018, Eaton launched a new series “Cooper Power series NOVA NX-T” reclosers to help utilities support a smarter, more reliable grid.
Recloser Market: By Control Type
Recloser Market: By Phase Type
Recloser Market: By Voltage Rating
Recloser Market: By Region
The global Recloser Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Recloser Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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