Global Recloser Market - Analysis by Phase, Control Type, Voltage, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The recloser market is likely to grow in the near future, owing to increasing power demand and growing need to augment the power infrastructure across the world. The power transmission and distribution infrastructure is undergoing massive change on account of aging infrastructure across the regions, which have remained underdeveloped.
Grid modernization has been growing in North America and Europe regions, whereas Asia-Pacific and Africa regions are witnessing widespread expansion of grid network. In addition, the Western Europe is expected to invest more than USD 130 billion in smart grid infrastructure during 2017-2027, which is expected to be a big boost for recloser market.
The three phase recloser segment holds major market share on account of widespread deployment of smart grid infrastructure and surging industrialization across the world. The three phase power circuit is more economical in comparison to other phase type of circuits. The three phase current is most suitable for industrial purposes, moreover, creation of smart grid infrastructure is expected to result in improving the grid infrastructure which, in turn, is expected to lead to development of three phase network.
Expansion of distribution network to drive the market
Globally, the power distribution network is witnessing huge augmentation on account of integration of off-grid power consumers with the grid network and replacement of aging distribution assets. Moreover, the deployment of automated distribution technologies is fostering the growth in the market, globally.
Asia-Pacific to Dominate the Market Growth
Asia-Pacific is expected to dominate the recloser market owing to increasing electricity demand in the region owing to rapid urbanization and industrialization, primarily in countries, like China and India, distribution network upgrade, and increasing need of power reliability and distribution automation, as well as rising investments in smart grid. Moreover, the growth in population has led to increased urbanization in the region, thereby, leading to growth in demand for electricity, which in turn, has led to increase in requirement of power infrastructure. Asia-Pacific is expected to witness significant growth in the three-phase distribution segment during the forecast period owing to the increasing demand for three-phase power from industries in India and China. Hence, the demand for three-phase recloser is expected to be higher in these regions.
Key Developments in the Market
April 2018: ABB Ltd won a contract of worth USD 90 million from Dubai Electricity and Water Authority (DEWA) for development of a substation that will integrate solar power from upcoming phases of the Mohammed bin Rashid Al Maktoum solar park into the city’s electrical grid
April 2018: Siemens AG was selected by Nepal Electricity Authority (NEA) for upgradation of its 15 year old Supervisory Control and Data Acquisition/Energy Management System (SCADA/EMS) at its Load Dispatch Center (LDC) located in Kathmandu
The major players include - ABB Ltd, Hubbell Inc, Siemens AG, Schneider Electric, Eaton Corporation, S & C Electric Company, Tavrida Electric, ENTEC Electric & Electronic, G&W Electric Company, Noja Power, among others.
Reasons to Purchase This Report
Current and future recloser market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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