Rockville, March 15, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global recloser controls market is expected to garner US$ 3.6 billion by 2033, exhibiting a CAGR of 5.3% from 2023 to 2033.
Electric equipment called a recloser is a high-end, precise automatic switchgear device. A recloser has sophisticated electronics and sensors that aid in preserving the electricity grid from breaking down. It either opens or shuts off the power supply when a short circuit happens. It automatically closes and restarts the power after a while. A recloser has the ability to manually and automatically reset faults while also restoring power supply. It shuts the power supply when a fault occurs more than three times in a circuit to prevent any mishap.
Reclosers are mostly used to avoid short circuit-related events in businesses, manufacturing facilities, malls, and office settings. Because of their many advantages, reclosers are widely employed in these settings and guarantee total safety.
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Over the projected period, North America will account for a leading market share in the recloser industry. This regional market is expanding on the back of growing investments in smart grid projects, automatic distribution systems, and infrastructure development. The market is also benefiting from the increasing demand for the installation of automatic safety systems in both the residential and commercial sectors.
- Inmarsat published a whitepaper in April 2021 that highlights the value of satellite-monitored reclosers for remote areas. The Inmarsat L-band network's BGAN M2M service is the best option for recloser control and monitoring. In locations on the continental hemisphere that are not near the poles, it offers up to 99.9% uptime even during bad weather.
Key Takeaways from Market Study
- The global recloser controls market amounted to US$ 2.1 billion in 2023.
- Worldwide demand for recloser controls is projected to expand at a CAGR of 5.3% during the forecast period (2023 to 2033).
- The global market is estimated to touch US$ 3.6 billion by 2033.
- The market in China is anticipated to expand rapidly at an annual rate of 7.4%.
- The market in Germany is forecasted to expand at 4.1% CAGR through 2033.
“Global urbanization and industrialization have increased dramatically, which have greatly increased the need for power supply. Due to the high load on circuits brought on by rapidly rising power consumption, a majority of organizations and those in the residential sector are installing recloser devices for safety reasons,” says a Fact.MR analyst.
Key Segments of Recloser Controls Industry Research
- By Type :
- Integral Hydraulic Controls
- Electronic Controls
- By Phase :
- Three-Phase
- Single-Phase
- Triple-Single-Phase
- By Application :
- Substations
- Power Distribution Systems
- Line Interfaces
- By Region :
- North America
- Latin America
- Europe
- Asia Pacific & China
- Middle East & Africa
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Winning Strategy
The market is fiercely competitive in North America with many well-known companies providing specialized technology. Market leaders in the United States are ABB Ltd., Cooper Industries, and G&W Electric, to mention a few.
- In July 2019, to increase the dependability of the electric grid, Georgia Power (US) invested more than US$ 4.1 billion in extending transmission and distribution facilities.
Competitive Landscape
A lot of competition exists in the worldwide substation automation industry. Market leaders are spending on R&D to continuously reinvent their products and are increasingly looking to expand their market share through a variety of tactical mergers, acquisitions, innovation, and a cost-effective product range.
- Eaton exhibited a series of recloser devices that will give smart grid applications accuracy and system reliability. This launch will help the demand for the company's goods grow in this cutthroat market. Also, to meet the increased need for power, additional supply and distribution networks have been built.
- Siemens introduced a new Small Modular Recloser in January 2020 as an affordable, low-maintenance substitute for single-phase and oil-filled reclosers.
- The Federal University of Santa Maria in Brazil received reclosers from Tavrida Electric Company in August 2019. (UFSM). As part of the ANEEL (National Electric Energy Agency) R&D effort 'Innovative Solution for Active Management of Distribution Systems', Tavrida Electric helped a Brazilian university develop novel approaches to the operation of intelligent distribution systems.
Companies Profiled
- ABB, Ltd.
- Eaton Corporation
- G&W Electric Company
- Siemens AG
- Hubbell
- Tavrida
- General Electric
- SEL
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global recloser controls market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study divulges essential insights on the market based on type (integral hydraulic controls, electronic controls), phase (three-phase, single-phase, triple-single-phase), and application (substations, power distribution systems, line interfaces), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
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