Pune, India, Aug. 04, 2022 (GLOBE NEWSWIRE) -- The global recloser market size was USD 1.89 billion in 2018. The market is projected to grow USD 2.92 in 2026 at a CAGR of 5.7% during the 2021-2026 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Recloser Market Share, 2021-2026.” Factors such as rising emphasis on flexible power generation will augment healthy growth.
The market in Asia Pacific is predicted to remain dominant during the forecast period. The growth witnessed in the region is due to increasing industrialization and urbanization.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2019-2026 |
| Forecast Period 2019 to 2026 CAGR | 5.7% |
| 2026 Value Projection | USD 2.92 billion |
| Base Year | 2018 |
| Market Size in 2018 | USD 1.89 billion |
| Historical Data for | 2015-2017 |
| No. of Pages | 220 |
| Segments covered | By Phase, By Control, By Interruption Type |
| Growth Drivers | High Investment in Grid Modernizing Projects to Enable Speedy Growth |
| Launch of Recloser Products by Eaton to Spur Growth Opportunities |
High Investment in Grid Modernizing Projects to Enable Speedy Growth
The rising investments for the deployment of distribution automation and grid modernizing projects will contribute positively to the growth of the market. According to the International Energy Agency (IEA) report, around USD 8.9 trillion will be invested in the electricity transmission and distribution (T&D) infrastructure by 2040. Furthermore, the increasing R&D investment and emphasis on the improvement of power quality and reliability of the grid will further create sales opportunities for the reclosers market in the forthcoming years.
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Launch of Recloser Products by Eaton to Spur Growth Opportunities
Eaton introduced a series of recloser products that will provide accuracy and system reliability to smart grid applications. This launch will help in the expansion of its product offerings in the competitive market. The introduction of the new recloser products are predicted to stimulate the growth of the market in the forthcoming years. Furthermore, the increasing power consumption has led to the construction of new transmission and distribution networks to cater to the demand for power. This factor will further support the growth of the market in the foreseeable future.
For instance, in December 2017, Sterlite Power received a contract of laying 1,800 km of power transmission project worth USD 800 million in Brazil. Additionally, rising investment in the power transmission and distribution sector will uplift the recloser market share in the forthcoming year. As per the report of European Energy Industry Investments 2017, an investment of USD 295 billion and USD 290 billion in transmission and distribution infrastructure in the year 2021-2030 and 2031- 2040 respectively has been projected.
Rapid Industrialization to Propel Growth in Asia Pacific
Asia Pacific generated a revenue of USD 0.73 billion in 2018 and is predicted to rise tremendously during the forecast period owing to the growing industrialization and commercialization. The surge in power generation capacity from renewable energy to meet the global targets to curb greenhouse emissions will further support the growth in Asia Pacific. According to the International Energy Agency, China had aimed to cater to 20% of its energy demand by low-carbon sources by 2030.
Furthermore, Europe is predicted to grow rapidly during the forecast period. Sustainable industrialization in countries such as the UK, Germany, Norway, Italy, and Russia will contribute positively to the growth in the region.
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Market Segments:
- By Phase the market is segmented into Single-Phase, Three-Phase, Others.
- On the basis of Control, the market categorized into Electric, Hydraulic, Others.
- By Voltage the market is further divided into Low Voltage, Medium Voltage, High Voltage.
- Interruption Type is segmented by Oil, Vacuum
- In terms of geography, the Cloud Security Market Share can be categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Recloser Market Companies mentioned in study:
- 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
Rеаѕоnѕ to Get thіѕ Rероrt:
- A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
- Data on market value for each section and sub-segment
- Indicates the region and market segment that is likely to expand the fastest and dominate the market.
- The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
- The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.
Scope of the Report:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Global Recloser Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Phase
- Single Phase
- Three Phase
- Others
- Market Analysis, Insights and Forecast – By Control
- Electric
- Hydraulic
- Others
- Market Analysis, Insights and Forecast – By Voltage
- Low Voltage
- Medium Voltage
- High Voltage
- Market Analysis, Insights and Forecast – By Interruption Type
- Oil
- Vacuum
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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