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New York, May 02, 2023 (GLOBE NEWSWIRE) — The Global Recloser Market is expected to reach $2.2 billion by 2030 from $1.4 billion in 2022, registering impressive expansion at a compound annual growth rate (CAGR) of 5.7%. Some of the major players are ABB, Siemens, Schneider Electric, Hubbell, and Eaton Corporation among others.
Global Recloser Market Trends Analysis Report by Phase Type (Three Phase, Single Phase, and Triple-single Phase), Control Type (Electronic and Hydraulic), Voltage Rating (Up to 15 kV, 16-27 kV, and 28-38 kV), Insulation Medium (Oil, Air, and Epoxy), Region, Supply & Demand Side Analysis, and Segment Forecasts, 2023-2030.
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The power demand is quite strong in growing countries like China and India. Additionally, the distribution industry has a high demand for reliable power infrastructure. Standard circuit breakers were unable to handle the load changes and protracted power outages brought on by circuit breaks. Because recloser can manage load imbalances and automatic power resets, this has driven the market for them. Recloser technology has the potential to replace outmoded circuit breakers with automated innovations that can diagnose and fix faults while also assuming the electrical supply.
Key Companies & Market Share Insights
Some of the key players operating in the global recloser market are ABB, Siemens, Schneider Electric, Hubbell, Eaton Corporation, Tavrida Electric, G&W Electric, S&C Electric, Hughes Power System, Entec Electric & Electronic, Brush Group, Elektrolites, NOJA Power, ILJIN Electric, Ghorit Electricals, Ningbo Tianan Group, Arteche Group, Nikum Energy Control, Shinsung Industrial Electric, Huayi Electric, and Ensto Group among others
In 2020, Switchgear expert C&S Electric Company is purchased by Siemens for 296 million dollars. The purchase includes the Indian operations of C&S Electric’s businesses that produce LV & MV power busbars, LV & MV switchgear components, and protection and metering devices. The acquisition includes C&S Electric’s Indian operations for its companies selling LV & MV power busbars, LV & MV switchgear components and panels, and protection and metering devices. The owners will keep the Etacom busbars business as well as other divisions of the company such as medium voltage switchgear and package sub-station, lighting, diesel generating sets, EPC, and so on. In the most recent fiscal year, C&S, an organization with more than 50 years of history in India, generated revenues of Rs. 1241 crore.
Recloser Market Overview
As recloser circuits can reduce the maintenance costs of existing circuits and implement the Internet of Things in the power distribution industry, their market share is predicted to increase. The development of superior recloser types that can handle failures at high voltage levels is being funded by the global power distribution electronic equipment sector. High voltage levels, Medium voltage levels, and Low voltage levels are the three categories under which the recloser market study is categorized. The 38 kV disturbance can be addressed automatically by deploying the high-voltage recloser, eliminating the need for human resources.
Report FeatureDescriptionsGrowth RateCAGR of 5.7% during the forecasting period, 2023-2030Historical Data2019-2021Forecast Years2023-2030Base Year 2022Units ConsideredRevenue in USD billion and CAGR from 2023 to 2030Report SegmentationComponent, Enterprise, End-User, Industry, and Region.Report AttributeMarket Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company ProfilingRegional Level ScopeNorth America, Europe, Asia-Pacific, South America, and Middle East and AfricaCountry Level ScopeU.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)Companies ProfiledABB, Siemens, Schneider Electric, Hubbell, Eaton Corporation, Tavrida Electric, G&W Electric, S&C Electric, Hughes Power System, Entec Electric & Electronic, Brush Group, Elektrolites, NOJA Power, ILJIN Electric, Ghorit Electricals, Ningbo Tianan Group, Arteche Group, Nikum Energy Control, Shinsung Industrial Electric, Huayi Electric, and Ensto GroupAvailable Customization In addition to the market data for Recloser Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirement.
Recloser Market Segmentation Analysis
The electronic segment, by control type, to emerge as the largest segment of the recloser market from 2023-2030.
The electronic category is expected to have the biggest market share over the projection period based on the control type. Electronic control recloser are used in end-use industries including energy (utilities, oil & gas, renewables), substations, and overhead distribution lines. Global demand for grid modernization, including distribution automation, is one of the key drivers propelling the growth of the electronic control recloser market.
By voltage rating, the segment up to 15 kV will develop at the highest CAGR between 2023 and 2030.
By voltage rating, the segment with ratings up to 15 kV is the largest and will experience the highest CAGR between 2023 and 2030. Due to the expansion of residential power distribution capabilities to meet the rising demand for energy in residential regions, the category is also anticipated to develop at the greatest CAGR. Additionally, the market for recloser with voltage ratings up to 15 kV is likely to be driven by rising urbanization, rising investment in smart grid projects, and expanding commercial, residential, and industrial sectors.
Recloser Market Regional Insights
Due to its extensive industrial sector, which includes oil refineries, petrochemical facilities, gas processing facilities, etc., North America is regarded as one of the most important markets among all other regions. These facilities require dependable power supply systems that can withstand any situation, including emergencies like blackouts or brownouts.
Europe has also shown enormous potential for a more competitive market with the rise in energy demand in the residential and commercial sectors. A multitude of factors, including the growing desire for modernization, integration, and a largely consumption-based economy, are driving this trend.
Market size for recloser in Brazil and other developing countries is to blame for the increase in demand for automated power distribution systems in Latin America. Due to its reliance on oil imports, Latin America also faces less price volatility than other regions like Europe and the Asia-Pacific.
During the forecast period, Asia Pacific is anticipated to dominate the recloser market. The region’s recloser business is growing as a result of increased funding for infrastructure improvement, automatic distribution systems, and smart grid initiatives. Power production, transmission, and distribution infrastructure have been developed in this area as a result of the region’s growing population, industrial expansion, and rapid urbanization.
Due to increased industrial development brought on by modernization policies adopted by governments in many nations, the Middle East and Africa have seen an increase in power consumption. Rapid industry growth and a shortage of competent labor in these regions contributed to a rise in demand for distribution automation systems.
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Recloser Market Outlook
Driver: increasing generation of renewable energy and the amount invested in it
Thanks to promising energy storage, hydrogen, and renewable energy technology, start-ups in the US and Europe have raised record amounts of money for their projects. Since 2010, 70% of all investments made in the power sector with the help of public financial institutions have been in renewable technology. Despite the government’s critical role in providing strong policy support, more than 60% of investments in renewable energy come from the private sector. Because of the development of renewable energy sources, the current participants in the recloser business have a sizable opportunity.
Restraints: There are affordable alternatives to recloser
Many safety system manufacturers have started making less expensive recloser substitutes. One of the markets for automated recloser that is expanding the fastest is in developing nations like China and India. However, because these are cost-conscious markets, price is a key consideration when making purchases. The expansion of the recloser market in these high-growth regions is threatened by the availability of less expensive alternatives like PVB for recloser.
Opportunities: Increasing financial support for smart grids
The energy sector is witnessing increased investment across the board, but the power sector has grown the most recently, largely due to increased spending on grid infrastructure and renewable energy sources. The transfer of power is tracked and managed by a smart grid from the point of generation to the last consumer. While reducing costs and acting as a crucial enabler of energy security, it maximizes system dependability, stability, and resilience. The financial incentive structure described in these regulations may be one-sided, with distributors liable to punishment for not meeting the standards, or two-sided, with distributors being eligible for a bonus for their extra effort and contribution.
Challenges: Dearth of investments by governments in grid stability
Financing renewable energy still faces several difficulties, many of which are firmly established like the current financial sector. Short loan periods, hefty capital expenses, and a dearth of sufficient government funding are some of these difficulties. However, they are not investing enough to ensure grid stability. Recloser need a large upfront expense to install, but they are essential for line upgrades.
Global Recloser Market Table of Contents
Phase Type Outlook
Control Type Outlook
Voltage Rating Outlook
Up to 15 kV16-27 kV28-38 kV
Insulation Medium Outlook
Europe GermanyU.K.FranceItalySpainSwedenAustriaFinlandBelgiumTurkeyRussiaPolandHungaryCzech RepublicSwitzerlandNetherlandsRest of Europe North America Asia-Pacific JapanChinaIndiaAustraliaSouth KoreaVietnamNew ZealandPhilippinesThailandMalaysiaHong KongTaiwanSingaporeIndonesiaSri LankaRest of Asia-Pacific South America BrazilArgentinaChileColombiaRest of South America Middle East And Africa South AfricaU.A.E.Saudi ArabiaOmanQatarIranEgyptRest of Middle East and Africa
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