According to the new market research report "Recloser Market by Control ((Recloser (Electronic, Hydraulic) and Sectionalizer (Resettable Electronic, Programmable Resettable)), Phase (Recloser (Three, Single, Triple Single) and Sectionalizer (Three, Single), Voltage Region - Global Forecast to 2025", is projected to reach USD 2.4 billion by 2025 from an estimated market size of USD 1.9 billion in 2020, at a CAGR of 4.8% during the forecast period. The global recloser market is set to witness significant growth owing to increasing power demand and expansion of transmission and distribution network globally. Additionally, increasing the share of renewable energy would also drive the grid integration projects and finally recloser and sectionalizer market.
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The electronic recloser control segment is expected to be the fastest market during the forecast period
The electronic recloser control segment is projected to be the fastest recloser market, by control type, during the forecast period. The electronic recloser control segment accounts for greater share of the total recloser market due to greater flexibility, ease of customization & programing, and have advanced protection, metering, and automation functionality. The growth in electronic recloser control market can be attributed to its low cost and wide area of its applications. Demand for electronic recloser control is on the rise in China, which is the major country in electric utility industry in terms of grid modernization projects. According to the Renewable Energy Policy Network (REN21), China accounted for 45% of the total global investment for renewable power generation in 2018. Increasing investments in renewable power would drive the market for distribution automation in Asia Pacific which would further drive the market for electronic recloser.
The Up to 15 KV segment is expected to be the fastest recloser market (including sectionalizer), by voltage, during the forecast period
The Up to 15 KV segment is expected to grow at the fastest rate during the forecast period. The up to 15 KV segment is expected to grow at the fastest CAGR due to the increase in residential power distribution capacity to cater the increasing demand for electricity in residential areas. Also, increasing investments in grid transmission and distribution projects in rural areas would also fuel the growth of the segment in the forecast period.
Asia Pacific is expected to dominate the global recloser and sectionalizer market during the forecast period.
The growth of the recloser and sectionalizer market in the Asia Pacific can be attributed to the increasing demand for electrical energy due to urbanization and industrialization, distribution network upgrade, and increasing need of power reliability. Also, rising investments in smart grid infrastructure projects that includes distribution automation would result in an increased demand for recloser and sectionalizer in the Asia-Pacific region. Additionally, the rise in investments in smart grid technologies that include distribution grid automation, smart meters, and demand response systems in countries such as China, India, South Korea, and Australia would create growth opportunities for the recloser and sectionalizer market in the region.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the recloser market. These include Noja Power (Australia), ABB (Switzerland), Eaton (Ireland), Schneider Electric (France), and Siemens (Germany). The leading players are trying to establish themselves in the markets of developed countries and are adopting various strategies to increase their respective market shares.
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