New York, United States , July 09, 2024 (GLOBE NEWSWIRE) -- The Global Recloser Market Size is to Grow from USD 1.24 Billion in 2023 to USD 2.08 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.31% during the projected period.
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Reclosers are specialized circuit breakers primarily used to protect power lines from faults and short circuits in overhead distribution systems. It automatically detects irregularities in the electrical system and isolates the issue by turning off the power. As opposed to traditional circuit breakers, which remain open unless they are manually reset, reclosers attempt to reestablish power following a brief disruption. It will automatically cut its connections many times fast to resume the flow of energy if the issue has been resolved. Reclosers are often equipped with advanced technologies for monitoring and administration, such as remote connectivity, that enable utilities to effectively identify and handle issues. This technology helps to increase the dependability and resilience of electrical distribution networks by reducing downtime and the need for manual intervention. The significant global drive towards grid modernization is driving growth in the recloser industry. The worldwide electrical system's infrastructure is mostly growing older and more deteriorated. Reclosers offer a robust solution to utilities having trouble modernizing their grids. Reclosers automatically identify and isolate power line issues, reducing outage periods for unaffected users during grid-healthy phases.
Browse key industry insights spread across 220 pages with110 Market data tables and figures & charts from the report on the "Global Recloser Market Size, Share, and COVID-19 Impact Analysis, By Machine Type (Single Phase Recloser, Three Phase Recloser, and Triple Single Recloser), By Control (Electronic, Hydraulic, and Micro-Processor), By Insulation (Epoxy-Insulated Recloser, Gas-Insulated Recloser, and Oil-Insulated Recloser), By Voltage (Up to 15 KV, 16-27 KV, and 28-38 KV), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The single phase recloser segment is estimated to dominate the market over the projected timeframe.
On the basis of machine type, the global recloser market is segmented into single phase recloser, three phase recloser, and triple single recloser. Among these, the single phase recloser segment is estimated to dominate the market over the projected timeframe. Single-phase reclosers are preferred by the utilities in charge of these networks since they are specifically designed to perform effectively under these types of circumstances.
The electronic segment is expected to dominate the market over the forecast period.
On the basis of control, the global recloser market is segmented into electronic, hydraulic, and micro-processor. Among these, the electronic segment is expected to dominate the market over the forecast period. The improved monitoring and control capabilities of electronic control reclosers are provided by microprocessor-based controllers, communication modules, and electronic sensors.
The epoxy-insulated recloser segment is expected to dominate the market over the projected timeframe.
On the basis of insulation, the global recloser market is segmented into epoxy-insulated recloser, gas-insulated recloser, and oil-insulated recloser. Among these, the epoxy-insulated recloser segment is expected to dominate the market over the projected timeframe. Epoxy insulation reduces the risk of gas emissions or oil leaks, which in turn reduces the risk of environmental contamination and fire hazards.
The artillery support segment is predicted to grow at the highest pace in the recloser market during the estimated period.
On the basis of voltage, the global recloser market is segmented into up to 15 KV, 16-27 KV, and 28-38 KV. Among these, the 16-27 KV segment is anticipated to dominate the market over the projected timeframe. The voltage range of 16–27 kV offers a performance and price combination that is well-balanced.
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Asia Pacific is expected to hold the largest share of the global recloser market over the forecast period.
Asia Pacific is expected to hold the largest share of the global recloser market over the forecast period. The need for power is increasing due to the fast industrialization and urbanization occurring in the Asia Pacific region. Furthermore, to meet the region's growing energy needs, governments across the Asia Pacific region are investing a significant sum of money in expanding and updating their electrical infrastructure. This includes making investments in the transmission and distribution networks since reclosers are essential for improving grid reliability and minimizing downtime.
North America is predicted to grow at the fastest pace in the global recloser market during the projected timeframe. The fast development of smart grid technology in North America is being driven by three factors: regulatory mandates, energy efficiency targets, and consumer desires for improved services. Electronic reclosers with smart grid functions including communication, automation, and remote monitoring are growing in popularity in the region. Utilities may improve grid performance and customer service by implementing these features.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Recloser Market include Arteche, ABB, Brush, Eaton, Entec Electric & Electronic, G&W Electric, GE, Hubbell, Hughes Power System, ILJIN Group, NOJA Power, Schneider Electric, Siemens, S&C Electric Company, Tavrida Electric, and others.
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Recent Developments
- In February 2023, using a new generation of MV/LV substation equipment, Enedis and Schneider Electric started a project to replace the use of SF6 (sulfur hexafluoride) gas. Due to its strong insulating and dielectric qualities, this gas is utilized in medium and high voltage electrical distribution in MV electrical equipment.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the Global Recloser Market based on the below-mentioned segments:
Global Recloser Market, By Machine Type
- Single Phase Recloser
- Three Phase Recloser
- Triple Single Recloser
Global Recloser Market, By Control
- Electronic
- Hydraulic
- Micro-Processor
Global Recloser Market, By Insulation
- Epoxy-Insulated Recloser
- Gas-Insulated Recloser
- Oil-Insulated Recloser
Global Recloser Market, By Voltage
- Up to 15 KV
- 16-27 KV
- 28-38 KV
Global Recloser Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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