Recloser Control Market Scope
The
extensive study by Market Research Future (MRFR) on the global recloser control
market 2020 reveals that it can touch a valuation of USD 1.75 Billion by the
end of 2025. The exhaustive research also confirms that the market can progress
at a rate of 6.49% between 2019 and 2025 (which is the evaluation period).
Primary Drivers and Main Challenges
The energy demand all
over the world is escalating at a considerable pace, backed by the surge in urbanization
along with technological advancements, leading to more industrialization as
well as commercialization. The industrial sector is advancing rapidly in line
with the economic growth, which involves to higher spending capacity of consumers,
and the rising number of new projects. Prominent vendors like Siemens, GE, ABB,
and others are actively adopting marketing hacks including product launch and
contracts & agreements so as to offer the more advanced recloser control devices
to customers.
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The heightened demand
for power is prompting utilities to boost the number of distribution and
transmission networks, which results in higher deployment of reclosers within
the power sector. Heavy investments in development of distribution automation as
well as grid modernizing projects have also done wonders for the recloser control
market. Therefore, with the surge in technological innovations to enhance the power
quality along with the efficiency of the grid have compelled more and more
players to invest significantly in research and development.
The
rapidly expanding distribution and transmission network, rising deployment of automated
distribution methods, and the increasing use of power protection equipment to bring
down service outages can lead to better growth prospects for the recloser
market in the approaching years. The demand for renewable energy sources for power
generation has also ballooned up in recent years, substantially boosting the
market growth for recloser control market.
Market Segmentation
The
primary segments on the basis of which the recloser control market has been studied
in the report are type, phase as well as voltage rating.
The
various types of recloser control are electric control as well as hydraulic
control. The larger share in the market is expected to be held by the electric
recloser segment, on account of its increasing applications owing to higher flexibility
coupled with the automation functionality.
Phase-wise
market segments included in the report are single, three, and triple-single
phase. Single-phase recloser control can attain the leading spot in the market,
in conjunction with its rising applications in the industrial sector across the
world.
The
voltage ratings studied by MRFR experts are 16-27 kv, 28-38 kv and up to 15 kv.
The up to 15 kv voltage rating segment is all set to procure the highest expansion
rate during the analysis period, since this voltage rating finds extensive
deployment in the residence segment of the distribution network.
Regional Outlook
The
Middle East & Africa or MEA, Asia Pacific or APAC, Europe, South America
and North America, are the top markets for recloser control market
APAC’ prospects of
obtaining the top position in the global market are quite high, thanks to the
improving infrastructure and the surge in investments. The increasing rate of industrialization,
the blossoming distribution and transmission network, and the rising use of renewable
energy sources for power generation are some of the notable growth boosters in
the regional market for recloser control. The growing need to ameliorate
the existing inefficient distribution infrastructure and the increasing installation
of better distribution lines also drive the industry expansion in the region. Smart
grid technologies that comprise distribution automation have gained vast
traction in the region, which can be another cause for the market growth in the
following years.
In
North America, the United States (U.S) can be the highest gaining market for recloser
control because of the rise in automatic restoration of power and the
increasing power distribution networks. The recloser control market in North
America is quite competitive with a huge number of well-known companies that
offer niche technologies. The giants currently dominating the U.S market are
Cooper Industries, ABB Ltd., G&W Electric, to name a few. Agreements,
product launches, collaborations, joint ventures partnerships, are some of the
top policies followed by these players to solidify their presence in the
region.
Leading Players
Some
of the top contenders in the market for recloser control are Schneider
(France), General Electric (US), SEL (US), Tavrida (China), Eaton (Ireland),
Entec (US), G&W Electric (US), Noja Power (Australia), ABB (Switzerland),
Hubbell (US), Beckwith Electric (US), to list a few.
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