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Recloser Market Trends

Report ID: GMI3388
Published Date: May 2023
Report Format: PDF

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Recloser Market Trends

The growing global population, urbanization, and industrialization have led to an increased demand for electricity. This drives the need for reliable power distribution systems and subsequently boosts the recloser market growth. In addition, increasing smart grid integration is the other major factor which is projected to sway the industry dynamics.

Power utilities and grid operators are increasingly investing in reclosers to enhance grid reliability and minimize downtime. Reclosers help in isolating faults and restoring power automatically, reducing the duration and scope of outages. This improves the overall reliability of the power distribution network. Moreover, growing emphasis on remote monitoring and control capabilities have become essential features in recloser systems, thereby augmenting the market growth. Grid operators can remotely monitor reclosers' performance, receive real-time fault alerts, and make informed decisions for maintenance and repair. This trend enables proactive fault management and reduces response time during outages.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of recloser crossed USD 2.1 billion in 2023 and is set to grow at 6.1% CAGR during 2024 to 2032 attributed to the high electricity demand and the ongoing refurbishment of the prevailing electrical setup.

The 15 kV reclosers segment is projected to amass significant revenue by 2032 owing to the ongoing expansion of residential areas, along with rapid urbanization.

The APAC industry is set to witness steady growth between 2023 and 2032 driven by the increasing demand for electricity, coupled with growing points of connection.

The prominent recloser business firms such as ABB, Eaton, Schneider Electric, Siemens, NOJA Power Switchgear Pty Ltd, Tavrida Electric, Hubbell, Hughes Power System, S&C Electric Company, G&W Electric, ENTEC Electric & Electronic, ARTECHE, Shinsung Industrial Electric, ENSTO, and Rockwell.