Global Recloser Market: Distribution Automation Solutions for Power Quality and Reliability is expected to Boost the Growth

The global recloser market is expected to reach USD 1.3 billion by 2027 from an estimated USD1.0 billion in 2022, at a CAGR of 5.4% from 2022 to 2027. Automation in the distribution field allows utilities to implement flexible control of distribution systems, which can be used to enhance efficiency, reliability, and quality of electric service. The increasing global demand for electric power and rising investments in smart grids are expected to boost the demand for reclosers during the forecast period. Increasing global investments in transmission and distribution automation systems and smart grid projects are the major drivers for the recloser market. The growing demand for distribution automation in North America and Europe will likely provide potential markets for manufacturers of reclosers. However, the availability of cheap alternatives to reclosers can act as a restraint on the growth of the recloser market.

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For better T&D of power, governments around the world are investing in expanding the current grids and putting in new ones. Recloser installations involve high expenditure, but these parts are necessary for line upgrading and enhancements. Although they could be potential markets for reclosers, emerging nations still do not invest as much in grid modernization as their industrialized counterparts. This factor is acting as a restraint for the recloser market.

Up to 15kV 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 15kV 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 hotelsare 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 shareas 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.

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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.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1-55%, Tier 2-30%, and Tier 3-15%
• By Designation: C-Level-30%, D-Level-20%, and Others-50%
• By Region: Asia Pacific-60%, North America-18%, Middle East & Africa-8%, Europe-10%, and South America-4%

Note: "Others" include sales managers, engineers, and regional managers
The tiers of the companies are defined based on their total revenue as of 2021: Tier 1: >USD 1 billion, Tier 2: USD 500 million-1 billion, and Tier 3: < USD 500 million

Major globally established players dominate the recloser market. The leading players in the recloser market are ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Hubbell (US), Eaton Corporation (Ireland), Tavrida Electric (Estonia), G&W Electric (US), S&C Electric (US), Hughes Power System (Sweden), Entec Electric & Electronic (South Korea), Brush Group (England), Elektrolites (India), NOJA Power (Australia).

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Study Coverage:
The report defines, describes, and forecasts the recloser market by Phase Type (Three, Single, Triple-single), Control Type (Electric, Hydraulic),Voltage Rating (Up to 15 kV, 16-27 kV, 28-38 kV),Insulation medium (Oil, Air, Epoxy), and region (Asia Pacific, North America, Europe, Middle East, and Africa, South America). It also offers a detailed qualitative and quantitative analysis of the recloser market.
The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the recloser market.

Key Benefits of Buying the Report
• The report identifies and addresses the key markets for recloser configuration and services, which would help recloser end users to review the growth in demand.
• The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
• The report will help key players better understand their competitors better and help them in making better strategic decisions.

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This release was published on openPR.