Selbyville, Delaware,, Sept. 24, 2024 (GLOBE NEWSWIRE) --
The electronic recloser market is anticipated to cross USD 2.28 billion by 2032, as reported in a research study by Global Market Insights Inc. Minimizing downtime and enhancing grid reliability are critical drivers for the electronic recloser industry. For instance, according to the U.S. Department of Energy, power outages cost the U.S. economy up to $150 billion annually. By reducing outage durations, electronic reclosers improve grid performance and customer satisfaction. By automatically detecting and isolating faults, electronic reclosers facilitate quicker restoration of power, which is essential for maintaining a stable and continuous electricity supply. This capability reduces outage durations and improves grid performance and customer satisfaction.
The ability to promptly address faults without manual intervention supports operational efficiency and reliability, making electronic reclosers a vital component in modernizing and securing the electrical grid. This focus on minimizing service interruptions is pivotal for driving the adoption of advanced grid protection technologies.
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The electronic recloser market from the single-phase segment will show a remarkable growth rate from 2024 to 2032, bolstered by the increasing need for reliable and efficient power distribution in residential and small commercial applications. As single-phase systems become more common, the demand for advanced protection solutions that ensure minimal service interruptions and quick fault isolation grows. Electronic reclosers offer precise control and automated fault management, which is crucial for maintaining the stability and reliability of single-phase power networks. Their ability to enhance operational efficiency and reduce downtime is particularly valued in these settings.
The electronic recloser market from the 27 kV voltage rating segment will seize a notable market share by 2032, due to the need for enhanced grid protection and stability in medium-voltage networks. As utilities expand and modernize their infrastructure to support growing energy demands, the 27 kV reclosers offer advanced protection features that improve system resilience, reduce maintenance costs, and ensure uninterrupted power supply. Their ability to handle medium-voltage faults effectively makes them essential for maintaining the integrity of the electrical grid.
Europe electronic recloser market will exhibit impressive expansion during 2024-2032, due to the ambitious energy transition goals and the push towards smart grid technologies. European countries are investing in grid modernization to accommodate renewable energy sources and enhance overall efficiency. Electronic reclosers play a crucial role in these initiatives by offering advanced fault detection and automated restoration capabilities, which support the integration of diverse energy sources and improve grid reliability. The focus on sustainability and resilience in Europe's energy infrastructure drives the increased adoption of these advanced protection solutions.
Major electronic recloser market vendors include Shinsung Industrial Electric, ARTECHE, Eaton, ENSTO, ENTEC Electric & Electronic, Schneider Electric, G&W Electric, Hubbell, Hughes Power System, NOJA Power Switchgear Pty Ltd, Rockwill, ABB, Siemens, and Tavrida Electric. These companies are enhancing their market presence through strategic partnerships and technological advancements. By investing in R&D and expanding their product portfolios, they address evolving grid needs. Their focus on innovation, efficiency, and integrating smart technologies positions them as leaders in the competitive landscape.
In March 2024, ABB Ltd. unveiled its upgraded mechanical technology center in Coppery Slopes, Michigan. This facility will support ABB Robotics' global operations by advancing and manufacturing cutting-edge automation solutions for the US and the Americas.
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Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market definitions
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
Chapter 2 Executive Summary
2.1 Electronic recloser industry 3600 synopsis, 2019 – 2032
2.1.1 Business trends
2.1.2 Phase trends
2.1.3 Interruption trends
2.1.4 Voltage rating trends
2.1.5 Regional trends
Chapter 3 Electronic Recloser Market Insights
3.1 Industry ecosystem analysis
3.2 Regulatory landscape
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.5 Porter's analysis
3.6 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
