February 22, 2021
According to the research report titled ‘Global Recloser Market Size study with COVID-19 Impact, by Phase Recloser Type (Single Phase and Three Phase), by Voltage Level Type (High Voltage, Medium Voltage and Low Voltage), by Control Type (Electric, Hydraulic and Microprocessor Based), by Insulation Type (Oil-Insulated, Gas-Insulated and Epoxy-Insulated) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global recloser market is expected to record an appreciable CAGR during 2020-2027.
Ongoing expansion of transmission and distribution (T&D) networks, increasing investments in renewable energy sector and smart grid projects, along with surging demand of power are the key factors driving global recloser market growth.
For those unversed, reclosers are high-voltage, automated electrical switches, which can automatically identify and resolve the problem in electrical lines. The temporary issue is reset, and electric power is restored. The recloser shuts off the power after three instances of trouble re-occurring to stop any accident on the line. These benefits have necessitated the use of reclosers all across the globe.
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Apar from the demand from the energy sector, planned alliances by major players and rising advancements in the field are anticipated to further augment global recloser market size in the coming years. Citing an instance, Siemens AG, in March 2019, introduced new siemens CMR (compact modular recloser), that decreased maintenance alternative to single phase, oil-filled recloser. It is lightweight, configurable, inexpensive, and compliant to IEEE C37.60, and incorporates the voltage power source, control, and switch unit into a single-isolated epoxy housing for easy installation and better reliability.
Despite the favorable business scenario, lack of an adequate distribution network and aging infrastructure of power sector are likely to hamper global recloser industry expansion over the forecast timespan. Moreover, as employees are mandated to work from home and manufacturing enterprises are temporarily shut down due the coronavirus pandemic, the worldwide recloser industry is facing grueling challenges. Various businesses have limited their production and supply operations that negatively impacted demand for the recloser.
Considering the regional terrain, North America presently accounts for a significant portion of global recloser market share, attributable to escalating demand for smarter power networks and grid reliability in the region. On the other hand, Asia Pacific market is poised to amass massive returns over the assessment period.
Major contenders in global recloser market sphere are Noja Power, G&W Electric Company, Entec Electric & Electronic Co., Ltd., Tavrida Electric, S&C Electric Company, Hubbell Inc., Siemens AG, Schneider Electric SE, Eaton Corporation plc, and ABB Group.