Recloser Market worth $1.3 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 18, 2022 /PRNewswire/ -- Recloser Market is projected to grow from USD 1.0 billion in 2022 to USD 1.3 billion by 2027, at a CAGR of 5.4% according to a new report by MarketsandMarkets™. The Recloser Market is expected to witness significant growth during the forecast period, owing to the power distribution infrastructure, which is expected to strengthen in the upcoming years with the rise in demand for electricity. Also, the increase in renewable energy capacity addition and increased investment in industrial production will enable the demand for reclosers. With the growing usage of high-voltage direct systems, the market for reclosers is expected to be driven at a faster rate.

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Three phase segment, by Phase Type, to occupy the majority of Recloser Market share

The three-phase segment, by Phase Type, is projected to hold the largest market share during the forecast period. Three-phase reclosers provide reliable, self-contained distribution-circuit overcurrent protection at a low initial cost and require minimal service. Because most line faults are temporary, they will clear after only momentary circuit interruption; therefore, permanent outages usually are prevented. These types of reclosers are mainly used in heavy industrial applications due to their sizeable power-carrying capacity and suitability for the operation of heavier electrical equipment.

Up to 15 kV voltage segment, by voltage rating, to be the largest market

Based on the voltage, the Upto 15 kV segment is estimated to be the largest market from 2020 to 2027. The demand for substation equipment safety is boosting the development of advanced protection devices such as automatic circuit reclosers. The up to 15 kV segment is expected to grow at the highest rate due to the increase in the residential power distribution capacity to cater to the increasing demand for electricity in residential areas.

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Asia Pacific followed by North America emerged as the largest Recloser Market

Asia Pacific accounted for the largest global Recloser Market share during the forecast period owing to the increasing investments in transmission and distribution line expansion projects. Also, the rising industrial and commercial sectors and the increasing investments in smart grid infrastructure in China, India, South Korea, and Australia are expected to drive the market. Also, the increasing demand for continuous and reliable power supply, along with the replacement of the aging distribution network, is likely to fuel the market further in Asia Pacific region.

ABB (Switzerland), NOJA Power (Australia), Siemens (Germany), Schneider Electric (France), and Eaton (Ireland) are the key players in the global Recloser Market.

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Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting

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