CHICAGO, April 27, 2020
CHICAGO, April 27, 2020 /PRNewswire/ -- According to the new market research "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", published by MarketsandMarkets™, the global Recloser Market (including sectionalizer) 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.
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.
Browse in-depth TOC on "Recloser Market"
115 – Tables
40 – Figures
170 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=187393365
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.
Get 10% Customization on this Research Report:
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.
Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting
Get Special Pricing on Bundle Reports:
Browse Related Reports:
Recloser Control Market by Type (Electric and Hydraulic), Phase Type (Three-Phase, Single-Phase, and Triple-Single Phase), Voltage (Up to 15 Kv, 16 kV–27 Kv, and 28 kV–38 Kv), and Region - Global Forecast to 2022
Switchgear Market by Insulation (GIS and AIS), Installation (Indoor and Outdoor), End User (T&D Utilities, Industries, Commercial and Residential), Voltage (Low, Medium, and High), and Geography – Global Forecast to 2024
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Sanjay Gupta
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/reclosers-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/reclosers.asp