Recloser Market: Current Analysis and Forecast (2022-2028)
$3999 – $7577
Emphasis on Phase (Single Three, Triple); Control (Electric, Hydraulic, Micro-Processor Base); Voltage (High, Medium, and Low); Insulation (Oil, Air, and Epoxy); Region/Country
The global Recloser Market is expected to grow at a significant rate of 5.8% during the forecast period. Reclosers, also known as auto reclosers or ACRs (Automatic Circuit Reclosers) have been widely used in transmission and distribution systems. The purpose of reclosers is mainly to increase system reliability by isolating only the faulted part of the power system. Unlike fuses, reclosers can automatically re-energize the line following a trip operation. The automatic reclose operation can be single or multiple shots.
The recloser market is expected to grow at a considerable rate in the forecasted period owing to the rising investment in strengthening the power distribution infrastructure in various economies across the globe. It is mainly the rising demand for electricity coupled with increasing renewable energy capacity addition and soaring investment in industrial production that is accentuating the demand for reclosers. Moreover, the growth of automation in every industry is escalating the demand for recloser systems to automate the process and eliminate manual intervention for restoring power.
ABB Ltd., Eaton, Siemens, G&W, General Electrics, Schnieder, Noja Power, Stelmec, Arteche, Entec Electric, and electronic.
Insights Presented in the Report
“Amongst phase, single-phase category to hold significant share during the forecast period”
Based on the phase, the recloser market is segmented into single, three, and triple. The single-phase recloser segment caters substantial share of the market. Single-phase reclosers are used to protect single-phase lines such as branches or taps of a three-phase feeder. They can also be used on three-phase circuits where the load is predominantly single-phase. Moreover, Due to the lighter weight of the single-phase recloser compared to larger three-phase reclosers, single-phase reclosers are typically mounted directly to the pole or substation steel structure individually by the built-in mounting hanger bracket which eliminates the need for an additional mounting frame.
“Amongst control, electric segment to hold a significant share in the market in 2020”
Based on control, the recloser market is segmented into electric, hydraulic, and microprocessor base. The electric recloser segment caters considerable share of the market. Increasing acceptance of electric reclosers in the transmission and distribution sector in the power industry is anticipating its market share. In addition, electric reclosers offer high feasibility, reliability, and accuracy in operation. Also, electric reclosers can be easily customized for advanced automation functions which in turn is escalating its market growth.
“Asia Pacific to grow with a substantial CAGR during the forecasted year”
Asia Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the rising population in countries such as China, and India in the region that are driving the demand for electricity. Also, rising industrial and commercial sectors and the increasing investments in smart grid infrastructure in China, India, South Korea, and Australia are rising the market of reclosers.
In addition, China is focusing on investments in the R&D of intelligent substations and intelligent power distributions. Thus, increasing investments are expected to drive the market for reclosers during the forecast period.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Recloser Market|
|2.2.||Research Methodology of the Recloser Market|
|5||IMPACT OF COVID-19 ON THE RECLOSER MARKET|
|6||RECLOSER MARKET REVENUE (USD BN), 2020-2028F|
|11.1.3.||Rest of North America|
|11.2.6.||Rest of Europe|
|11.3.4.||Rest of Asia-Pacific|
|11.4.||Rest of the World|
|13||RECLOSER MARKET OPPORTUNITIES|
|14||RECLOSER MARKET TRENDS|
|15.1.||Demand Side Analysis|
|15.2.||Supply Side Analysis|
|16||VALUE CHAIN ANALYSIS|
|17.1.1.||Porters Fiver Forces Analysis|
|18.10.||Entec Electric and electronic|
Research Methodology for the Recloser Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Recloser market were the three major steps undertaken to create and analyze the adoption of Recloser in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Recloser market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Recloser market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Recloser market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as phase, control, voltage, and insulation. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Recloser market. Further, we conducted factor analysis using dependent and independent variables such as various phase, control, voltage, and insulation. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Recloser market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Recloser market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Recloser market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Recloser market in terms of the product offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Recloser market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of phase, control, voltage, and insulation in the global Recloser market.
The main objective of the Global Recloser Market Study
The current & future market trends of the global Recloser market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Recloser market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type of phase, control, voltage, and insulation.
- Define and analysis of the regulatory framework for the Recloser
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Recloser market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the Recloser market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry