Press release
Recloser Market Size to Reach US$ 2.3 Billion by 2028 | Industry CAGR of 5.50%
Recloser Market Research and Forecast Report 2023-2028
Report Highlights:
How big is the recloser market?
The global recloser market size reached US$ 1.61 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.50% during 2023-2028.
What is recloser?
A recloser, also known as an auto recloser or automatic circuit recloser (ACR), is an electrical device utilized in electric distribution networks to prevent prolonged outages. It establishes an electrical circuit remotely, manually, or automatically and functions as a high-voltage automatic electric switch that identifies and interrupts power in the event of a fault. In addition, it restores power if the issue is resolved within the reclaim time by completing its auto recloser cycle and closing the circuit breaker. It also enhances the reliability of the system by isolating faulty parts, possesses the capability to automatically restore power to the line after a trip, and serves as a power equipment that interrupts circuits upon detecting faults or abnormalities, effectively averting short circuits, saving costs and minimizes inconveniences caused by frequent power outages. Consequently, reclosers find extensive applications in various industries, shopping malls, and offices to ensure safety and prevent accidents.
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What are the growth prospects and trends in the recloser industry?
The market is primarily driven by the escalating demand for dependable power distribution devices. In addition, rapid urbanization, the rising population, and the growing application of renewable sources of energy are contributing to the market growth. In line with this, the continuous power consumption led to the widespread adoption of recloser systems for safety purposes, thus influencing the market growth. Moreover, several technological advancements in grid enhancement projects and the introduction of smart grids and distribution automation systems represent another major growth-inducing factor. Besides this, the integration of renewable energy sources such as wind and solar power into the power grid is accelerating the market growth. Along with this, favorable government initiatives, subsidies, incentives for grid modernization initiatives, stringent energy efficiency policies, and the increasing focus on grid resilience and reliability due to increasing natural disasters and extreme weather events are propelling the market growth. Apart from this, the recloser market is growing at different rates in numerous regions, with Asia Pacific being the largest market due to the growing demand for reliable power distribution, the widespread adoption of several renewable energy sources, and extensive investment in grid modernization by public and private sectors across the region. Moreover, the industry is expected to face competition in the upcoming years as numerous key players are implementing competitive strategies to sustain their presence in the market. For instance, in July 2021, CPS Energy introduced a 4-year Accelerated Recloser Deployment Program aimed to install 144 recloser devices across San Antonio, Texas, to sectionalize circuits, allowing better control and focus, and test faults in grids, ultimately enhancing the reliability and resilience of the power system.
What is included in market segmentation?
The report has segmented the market into the following categories:
Type Insights:
Single Phase Recloser
Three Phase Recloser
Triple Single Recloser
Control Insights:
Electronic
Hydraulic
Micro-Processor
Insulation Insights:
Oil-Insulated Recloser
Gas-Insulated Recloser
Epoxy-Insulated Recloser
Voltage Rating Insights:
Upto 15 Kv
16-27 Kv
28-38 Kv
Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
ABB Ltd.
Eaton Corporation plc
ENTEC Electric & Electronic CO. LTD.
G&W Electric Company
Hubbell Incorporated
Hughes Power System
ILJIN ELECTRIC
Noja Power Switchgear Pty Ltd.
S&C Electric Company
Schneider Electric SE
Siemens AG
Tavrida Electric, etc.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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Reclosers refer to circuit breakers, which are mounted on long distribution feeders. The capability of circuit breakers to isolate or cut-off a part of the entire line in case of failures and overloads is likely propel global recloser market over the tenure of assessment. Reclosers come with the ability to restore power automatically and quickly in situations of faults or power disruptions.
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