Global Recloser Market Size, Share and Industry Analysis Overview
The global recloser market is expected to reach USD 1.3 billion by 2027 from an estimated USD 1.0 billion in 2022, at a CAGR of 5.4% from 2022 to 2027.
The need for additional power plants to cater to the growing energy demands has become imperative due to the increasing global population. The ever-increasing power demand has resulted in the establishment of new power generation and transmission facilities. Hence, utilities need to improve power reliability, increasing the quality of power supplied to the customers. Developing regions such as Asia Pacific, South America, and the Middle East & Africa are some of the largest markets for power generation. Along with power generation, the demand for distribution automation facilities is also increasing similarly. A wide variety of distribution equipment is used to protect electrical distribution networks. These devices include reclosers, fuses, and overcurrent relays. Recloser has helped minimize the duration of a fault in the distribution system. They also help minimize the number of consumers affected by a fault in the system.
Key Market Players
There are several voltage ratings with respect to different end users. A few major players have a wide regional presence and dominate the recloser market. The leading players in the recloser market include ABB (Switzerland), NOJA Power (Australia), Siemens (Germany), Schneider Electric (France), and Eaton (Ireland).
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Recloser Industry Manufacturers
Recloser manufacturers play an important role in modern electrical grid infrastructure, assuring power distribution dependability and efficiency. Reclosers are clever, automatic circuit breakers that protect distribution lines by promptly interrupting electrical failures and then automatically returning power to unaffected areas, thereby decreasing downtime and service disruption. These devices have superior monitoring and communication capabilities, allowing utilities to remotely control and diagnose defects in real time, which improves grid management. The recloser sector is constantly evolving, owing to developments in automation, connectivity, and smart grid technologies.
Based on voltage, the Up to 15 kV segment is expected to be the largest market from 2020 to 2027. The increased demand for substation equipment safety is driving the development of enhanced protection devices such as automatic circuit reclosers. The up to 15 kV segment is predicted to develop the fastest as residential power distribution capacity expands to meet rising demand for electricity in residential regions.
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Asia Pacific held the biggest worldwide recloser market share over the projection period, owing to increased investment in transmission and distribution line expansion projects. In addition, developing industrial and commercial sectors, as well as increased investments in smart grid infrastructure in China, India, South Korea, and Australia, are likely to boost market growth. Furthermore, the growing demand for continuous and reliable power supply, combined with the replacement of an outdated distribution network, is expected to push the market further in the Asia Pacific region.