Forums » News and Announcements
Recloser Control Industry to grow at 6.49% CAGR To 2027
-
Market Scope
The extensive study by Market Research Future (MRFR) on the global recloser control market 2020 reveals that it can touch a valuation of USD 1.75 Billion by the end of 2025. The exhaustive research also confirms that the recloser control market size can progress at a rate of 6.49% between 2019 and 2025 (which is the evaluation period).
Primary Drivers and Main Challenges
The energy demand all over the world is escalating at a considerable pace, backed by the surge in urbanization along with technological advancements, leading to more industrialization as well as commercialization. The industrial sector is advancing rapidly in line with the economic growth, which involves to higher spending capacity of consumers, and the rising number of new projects. Prominent vendors like Siemens, GE, ABB, and others are actively adopting marketing hacks including product launch and contracts & agreements so as to offer the more advanced recloser control devices to customers.
The heightened demand for power is prompting utilities to boost the number of distribution and transmission networks, which results in higher deployment of reclosers within the power sector. Heavy investments in development of distribution automation as well as grid modernizing projects have also done wonders for the recloser control industry growth. Therefore, with the surge in technological innovations to enhance the power quality along with the efficiency of the grid have compelled more and more players to invest significantly in research and development.
The rapidly expanding distribution and transmission network, rising deployment of automated distribution methods, and the increasing use of power protection equipment to bring down service outages can lead to better growth prospects for the recloser market in the approaching years. The demand for renewable energy sources for power generation has also ballooned up in recent years, substantially boosting the market growth for recloser control market.
Market Segmentation
The primary segments on the basis of which the recloser control market has been studied in the report are type, phase as well as voltage rating.
The various types of recloser control are electric control as well as hydraulic control. The larger recloser control market share is expected to be held by the electric recloser segment, on account of its increasing applications owing to higher flexibility coupled with the automation functionality.
Phase-wise market segments included in the report are single, three, and triple-single phase. Single-phase recloser control can attain the leading spot in the market, in conjunction with its rising applications in the industrial sector across the world.
The voltage ratings studied by MRFR experts are 16-27 kv, 28-38 kv and up to 15 kv. The up to 15 kv voltage rating segment is all set to procure the highest expansion rate during the analysis period, since this voltage rating finds extensive deployment in the residence segment of the distribution network.
Regional Outlook
The Middle East & Africa or MEA, Asia Pacific or APAC, Europe, South America and North America, are the top recloser control market trends.
APAC’ prospects of obtaining the top position in the global recloser control market forecast are quite high, thanks to the improving infrastructure and the surge in investments. The increasing rate of industrialization, the blossoming distribution and transmission network, and the rising use of renewable energy sources for power generation are some of the notable growth boosters in the regional market for recloser control. The growing need to ameliorate the existing inefficient distribution infrastructure and the increasing installation of better distribution lines also drive the industry expansion in the region. Smart grid technologies that comprise distribution automation have gained vast traction in the region, which can be another cause for the market growth in the following years.
In North America, the United States (U.S) can be the highest gaining market for recloser control because of the rise in automatic restoration of power and the increasing power distribution networks. The recloser control market in North America is quite competitive with a huge number of well-known companies that offer niche technologies. The giants currently dominating the U.S market are Cooper Industries, ABB Ltd., G&W Electric, to name a few. Agreements, product launches, collaborations, joint ventures partnerships, are some of the top policies followed by these players to solidify their presence in the region.
Leading Players
Some of the top contenders in the global recloser control market are Schneider (France), General Electric (US), SEL (US), Tavrida (China), Eaton (Ireland), Entec (US), G&W Electric (US), Noja Power (Australia), ABB (Switzerland), Hubbell (US), Beckwith Electric (US), to list a few.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/recloser-control-market-8352