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Global Recloser Market Report 2022 to 2027: Increasing Investments in Smart Grids Presents Opportunities
Global Recloser Market
Dublin, Nov. 14, 2022 (GLOBE NEWSWIRE) -- The "Recloser Market 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) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global recloser market is expected to reach USD 1.3 billion by 2027 from an estimated USD 1.0 billion in 2022, at a CAGR of 5.4% from 2022 to 2027.
Up to 15 kV segment, by voltage rating, to be the fastest growing market from 2022 to 2027
The recloser market has been segmented based on voltage rating into three segments, namely, up to 15 kV, 16-27 kV, and 28-38 kV. The up to 15 kV is a subgroup of voltage rating revolution that is mostly used in all segments by the residential applications and in rural distribution lines.
The residential sector has grown overall due to the expansion in the manufacturing sector, which is anticipated to boost the demand for up to 15 kV recloser. The market for reclosers for up to 15 kV voltage rating segment is projected to increase as a result of the rising expansion of the electrical distribution networks and the efforts of distribution utilities to reduce power outages in the residential sector. Investments in renewable energy and the expanding industrial and commercial sector, which includes enormous malls, hospitals, and hotels are likely to drive the market for up to 15 kV reclosers.
Epoxy insulation medium segment, by insulation type, to be the largest market from 2022 to 2027
The insulation medium segment has three types: Oil, Air, and Epoxy. The epoxy insulation medium is expected to grow at the fastest CAGR and occupy the largest market share as they are intended for use in distribution feeders or substations to maximize long-term reliability and minimize routine maintenance needs.
Epoxy insulation medium reclosers have better arc quenching properties and improved reliability and are cost-efficient and environment-friendly, with easily recyclable technology. Epoxy insulation medium reclosers are an essential component in a transmission network and are used within substations to control the flow of large quantities of electric power with an electrical network. As electrification increases in the country, the transmission network will naturally expand, and hence, there will be a surge in demand for epoxy insulation medium recloser in new transmission substations.
Asia Pacific is the largest and fastest-growing region in recloser market
Asia Pacific is expected to dominate the global recloser market and is projected to grow at the highest CAGR between 2022 and 2027. Power transmission utilities, power generation utilities, power distribution utilities, commercial sectors, and railways and metros are some of the region's primary end-users of the recloser. Due to the lower capital and labor costs, the manufacturing sector in the area is projected to have continued market growth. With the growing population in Asian countries such as China and India, electricity generation demand is also rising.
China is focusing on investments in the R&D of intelligent substations and intelligent power distributions. Thus, increasing investments are expected to drive the market for reclosers during the forecast period. China is also witnessing increased investments in the renewables sector, including solar, hydrogen, wind, and natural gas, for power generation. The demand for reclosers to regulate electricity and offer fault protection will significantly increase, raising the market in the Asia Pacific.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Key Players in Recloser Market
4.2 Recloser Market, by Region
4.3 Asia-Pacific: Recloser Market, by Control Type and Country, 2021
4.4 Recloser Market, by Phase Type
4.5 Recloser Market, by Control Type
4.6 Recloser Market, by Voltage Rating
4.7 Recloser Market, by Insulation Medium
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Implementation of Distribution Automation Solutions for Power Quality and Reliability
5.2.1.2 Expanding T&D Networks
5.2.1.3 Growing Renewable Power Generation and Increasing Investments in Renewable Energy
5.2.1.4 Upgrades in Existing Substations and Feeder Line Protection
5.2.2 Restraints
5.2.2.1 Increasing Competition from Unorganized Sector
5.2.2.2 Availability of Cheap Alternatives to Reclosers
5.2.3 Opportunities
5.2.3.1 Increasing Investments in Smart Grids
5.2.3.2 Implementation of Performance-Based Incentive Schemes and Guaranteed Service Programs
5.2.4 Challenges
5.2.4.1 High Cost of Reclosers
5.2.4.2 Lack of Investments by Governments in Grid Stability
5.3 Market Map
5.4 Value Chain Analysis
5.4.1 Raw Material Providers/Suppliers
5.4.2 Component Manufacturers
5.4.3 Recloser Manufacturers/Assemblers
5.4.4 Distributors
5.4.5 End-users
5.4.6 Post-Sales Service Providers
5.5 Technology Analysis
5.5.1 Artificial Intelligence (Ai)-Based Detection of Automatic Circuit Reclosers
5.5.2 Internet of Things (Iot)-Connected Automatic Circuit Reclosers
5.6 Pricing Analysis
5.6.1 Average Selling Price of Reclosers, by Voltage Rating
5.7 Key Conferences and Events, 2022-2024
5.8 Tariffs, Codes, and Regulations
5.8.1 Tariffs Related to Recloser Market
5.9 Trade Analysis
5.10 Patent Analysis
5.11 Porter's Five Forces Analysis
5.12 Key Stakeholders and Buying Criteria
5.13 Buying Criteria
5.14 Case Study Analysis
6 Recloser Market, by Phase Type
6.1 Introduction
6.2 Three Phase
6.2.1 Increasing Demand for Three-Phase Power in Industries to Aid Segment Growth
6.3 Single Phase
6.3.1 Wide Use of Single-Phase Reclosers for Domestic Applications Likely to Propel Segment
6.4 Triple-Single Phase
6.4.1 Better Network Reliability and Overcurrent Protection Expected to Drive Demand
7 Recloser Market, by Control Type
7.1 Introduction
7.2 Electronic
7.2.1 Advanced Features of Electronic Control Reclosers Likely to Fuel Demand
7.3 Hydraulic
7.3.1 Widespread Use of Hydraulic Control Reclosers in Rural Distribution Networks Likely to Drive Segment
8 Recloser Market, by Voltage Rating
8.1 Introduction
8.2 Up to 15 Kv
8.2.1 Wide Usage of Up to 15 Kv Reclosers for Residential Applications Expected to Drive Demand
8.3 16-27 Kv
8.3.1 Use of 16-27 Kv Reclosers for Industrial and Commercial Applications Likely to Boost Market
8.4 28-38 Kv
8.4.1 Increasing Distribution Substation Upgrade to Propel Market for 28-38 Kv Reclosers
9 Recloser Market, by Insulation Medium
9.1 Introduction
9.2 Oil
9.2.1 Oil Insulation Reclosers Used for Power Distribution and Automation Products
9.3 Air
9.3.1 Air Insulation Medium Reclosers Applied for Power Transmission and Distribution
9.4 Epoxy
9.4.1 Epoxy Insulation Medium Reclosers Allow Distribution Substation Upgrades and Increase Reliability
10 Recloser Market, by Region
11 Competitive Landscape
11.1 Overview
11.2 Key Players' Strategies
11.3 Market Share Analysis of Top Five Players
11.4 Revenue Analysis of Top Five Market Players
11.5 Company Evaluation Quadrant
11.5.1 Stars
11.5.2 Pervasive Players
11.5.3 Emerging Leaders
11.5.4 Participants
11.6 Start-Up/Sme Evaluation Quadrant
11.6.1 Progressive Companies
11.6.2 Responsive Companies
11.6.3 Dynamic Companies
11.6.4 Starting Blocks
11.6.5 Competitive Benchmarking
11.7 Recloser Market: Company Footprint
11.8 Competitive Scenario
12 Company Profiles
12.1 Key Players
12.1.1 Abb
12.1.2 Eaton Corporation
12.1.3 Schneider Electric
12.1.4 Siemens
12.1.5 Noja Power
12.1.6 Hubbell
12.1.7 S&C Electric Company
12.1.8 Tavrida Electric
12.1.9 Entec Electric & Electronic
12.1.10 G&W Electric
12.1.11 Brush Group
12.1.12 Elektrolites
12.1.13 Ghorit Electricals
12.1.14 Iljin Electric
12.1.15 Hughes Power System
12.1.16 Ningbo Tianan Group
12.2 Other Players
12.2.1 Arteche Group
12.2.2 Nikum Energy Control
12.2.3 Shinsung Industrial Electric
12.2.4 Huayi Electric
12.2.5 Ensto Group
12.3 List of More Players as Market is Fragmented
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/wszba7
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