ID: MRFR/E&P/6880-HCR | February 2021 | Region: Global | 111 pages
Recloser Control Market size is projected to reach USD 1.75 Billion by 2025, with ~6% CAGR between 2019 and 2025.
The major drivers of the global market growth including the expansion of transmission and distribution network. Additionally, the demand for smart grid infrastructure to create opportunities for the global recloser control industry. For instance, in 2016, the US Department of Energy (DOE) announced a grid modernization multiyear program plan to convert traditional grid architecture to improve the grid system reliability. This is expected to create opportunities for the installation of electric devices such as recloser control.
The key players operating in the global recloser control market are ABB (Switzerland), Eaton (Ireland), Schneider (France), Hubbell (US), G&W Electric (US), General Electric (US), Noja Power (Australia), Tavrida (china), Entec (US), Beckwith Electric (US), and SEL (US), among others.
Many major players such as ABB, GE, Siemens, and others are manufacturing recloser control with a high demand from industrial sector and improved efficiency. Such players are actively engaged in contracts & agreements and launching new products as a key strategy in order to offer the best suitable recloser control. For instance, in April 2016, G&W Electric and GE collaborated to develop new integrated recloser solutions including GE’s new Multilin R650 recloser control. However, the high cost of recloser controls in some parts of the world is expected to restrain the growth of the market.
The global recloser control market has been segmented based on type, phase, voltage rating, and region. By type, the global market includes electric control and hydraulic control. The electric recloser segment is expected to hold larger share due to its wide application, greater flexibility, and automation functionality. By voltage rating, the global market is segmented into up to 15 kv, 16-27 kv, ands 28-38 kv. The 15 kv voltage rating segment is expected to grow with the highest CAGR during the forecast period as the15 kv voltage rating is extensively used in the residential applications of the distribution network. On the basis of phase, the global market has been segmented into three, single and triple-single phase. The single-phase segment is expected to hold the largest share within the global market due to its wide application in industrial sector.
The global recloser control market is expected to grow at a faster rate due to the growing concern for reliable and efficient power supply globally.
A recloser is an electric power switch that automatically shuts off the electric power when short circuit occurs. Reclosers are used in electronic overhead distribution systems to detect and stop temporary faults. The advanced recloser control mechanism is placed outside the reclosers and collects current signal. There are primarily two types of recloser control, namely, integral hydraulic recloser control or an electronic recloser control. The hydraulic recloser control is generally used in single-phase reclosers and electronic recloser controls are used mostly in three-phase reclosers.
On the basis of region, the global market is segmented as North America, Asia-Pacific, Europe, Middle East & Africa, and South America. Asia-Pacific obtains the largest market share due to the installation of new distribution lines, and refurbishment of older distribution systems in the region.
|CAGR||6% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Phase and Voltage Rating|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ABB (Switzerland), Eaton (Ireland), Schneider (France), Hubbell (US), G&W Electric (US), General Electric (US), Noja Power (Australia), Tavrida (china), Entec (US), Beckwith Electric (US), and SEL (US)|
|Key Market Opportunities||
|Key Market Drivers||Expansion of transmission and distribution network|
Frequently Asked Questions (FAQ) :
The market is expected to achieve a growth rate of 6.49% between 2021 and 2027.
The market value by 2024 is estimated to be USD 1.75 Billion.
G&W Electric (US), Tavrida (China), Eaton (Ireland), Hubbell (US), General Electric (US), Entec (US), Schneider (France), ABB (Switzerland), SEL (US), Beckwith Electric (US), Noja Power (Australia), are the notable companies in the market.
Rising installation of new distribution lines along with the continuous refurbishment of older distribution systems make APAC the leading market for recloser control.
Single-phase is highly popular in the global market given its rising application in the industrial sector.