New York, US, July 13, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Recloser Control Market Analysis by Type (Electric Control and Hydraulic Control), Phase (Three-phase, Single-phase and Triple-single Phase), Voltage Rating (Up to 15kv, 16-27 kv, 28-38 kv) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2030” valuation is poised to reach USD 1.75 Billion by 2025, registering an 6% CAGR throughout the forecast period (2020–2025).
Recloser Control Market Overview
The increased investments to upgrade mature substations and also feeder line protections will offer robust opportunities for the market over the forecast period.
Recloser Control Market Report Scope:
| Report Metric | Details |
| Market Size in 2025 | USD 1.75 Billion |
| CAGR (2020 to 2025) | 6% |
| Base Year | 2019 |
| Forecast Period | 2020-2025 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Voltage Rating and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | ABB (Switzerland), Eaton (Ireland), Schneider (France), Hubbell (US), G&W Electric (US), General Electric (US), Noja Power (Australia), Tavrida (china), Entec (US), Beckwith Electric (US), and SEL (US) |
| Key Market Opportunities | Increasing Investments to Upgrade Mature Substations & Feeder Line Protections to offer Robust Opportunities |
| Key Market Drivers | Increased Need for Automation of Electric Supply to Boost Recloser Control Market Growth |
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Drivers
Increased Need for Automation of Electric Supply to Boost Market Growth
The increased need across the globe for automation of electric supply for improved reliability & quality of power will boost recloser control market growth over the forecast period.
Increasing Competition from Unorganized Sectors to act as Market Restraint
The increasing competition from unorganized sectors coupled with the high price of electric recloser controls may act as market restraints in the forecast period. Besides, the COVID-19 impact may also impede the market growth.
Availability of Alternatives to act as Market Challenge
The availability of alternatives may act as a market challenge over the forecast period.
Recloser Control Market Segments
The global recloser control market is bifurcated based on voltage rating, phase, and type.
By type, electric control will lead the market over the forecast period.
By phase, the three-phase segment will dominate the market over the forecast period.
By voltage rating, up to 15Kv will spearhead the market over the forecast period.
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Recloser Control Market Regional Analysis
APAC to Rule Recloser Control Market
Due to expanding industrialization and increasing automation for reliability and power distribution quality in nations such as China, India, & South East Asian countries, Asia Pacific is predicted to grow at the fastest rate, driving the demand for recloser control market. In May 2018, Schneider Electric (France) agreed to purchase Larsen and Toubro's electric and automation company (L&T E&A) and merge it with Schneider Electric India's Low voltage & industrial automation product businesses. This would boost the number of recloser control installations in Asia-Pacific. Increasing demand for electrical energy due to urbanization & industrialization, upgrades in distribution network, increasing demand for power reliability & distribution automation, and huge investments in the smart grids are expected to drive the market in the Asia Pacific region during the forecast period. Increased demand for electrical power, owing to increasing industrialization and urbanization, as well as increased investments in smart grid technologies like distribution automation, are expected to boost the Asia Pacific recloser control system market.
In the APAC region, China is the most important country in the recloser control system. It is also the largest power transmission & distribution market in the world, as well as a key user of smart grid technologies. China is scheduled to invest US$ 83 billion in its transmission and distribution network over the forecast period, as per the International Energy Agency's (IEA) World Energy Investment Outlook. In terms of revenue, Asia Pacific is predicted to account for the largest share, and this dominance is likely to continue throughout the forecast period. This supremacy might be ascribed to growing economies like Japan, China, and India investing more in electrical infrastructure upgrades.
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Because of improved infrastructure and increased expenditures, APAC has a good chance of gaining the top spot in the worldwide recloser control market projection. Few of the major growth boosters in the regional market for recloser control include the growing rate of industrialization, blossoming distribution & transmission network, & the increasing usage of renewable energy sources especially for power generation. The growing need to improve current inefficient distribution infrastructure, as well as the expanding construction of better distribution lines, is driving regional industrial growth. Distribution automation technologies, which are part of smart grid technologies, have acquired a lot of traction in this region that could be another reason for market growth in the next years.
North America to Have Significant Growth in Recloser Control Market
Because of the growing concern for upgrading current T&D networks in the United States, Canada, and Mexico, North America will have a significant market growth. According to T&D World, Georgia Power (US) announced intentions to invest over USD 4.1 billion in extending transmission and distribution infrastructure to improve the electric grid's dependability in July 2019. In 2017, First Energy Corporation (US) announced intentions to invest extensively in transmission and distribution system upgrades and modernization in New Jersey, Ohio, New York, & other parts of the United States. This would boost the number of recloser control installations in North America.
Due to increased need for sources of renewable energy in the region, the market in North America is predicted to rise significantly, followed by Europe, over the forecast period. Because of the development in automatic power restoration and the expansion of power distribution networks in the region, the (US) may be the fastest growing market for recloser control. In North America, the market is very competitive, with a large number of well-known players offering specialist technology. ABB Ltd., Cooper Industries, and G&W Electric, to name a few, are the current market leaders in the United States. Agreements, collaborations, product launches, partnerships, and joint ventures are just a few of the strategies used by major companies to cement their presence in the region.
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Recloser Control Market Competitive Analysis
Dominant Key Players on Recloser Control Market Covered are:
- ABB (Switzerland)
- Eaton (Ireland)
- Schneider (France)
- Hubbell (US)
- G&W Electric (US)
- General Electric (US)
- Noja Power (Australia)
- Tavrida (china)
- Entec (US)
- Beckwith Electric (US)
- SEL (US)
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