According to the latest report by IMARC Group, titled, “Recloser Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global recloser market size, share, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
|Market Size in 2022||US$ 1.61 Billion|
|Market Forecast in 2028||US$ 2.3 Billion|
|Growth rate (2023 to 2028)||CAGR of 5.50%|
|Base Year of the Analysis||2022|
A recloser, also known as an auto recloser or automatic circuit recloser (ACR), is an electrical device utilized in electric distribution networks to prevent prolonged outages. It establishes an electrical circuit remotely, manually, or automatically and functions as a high-voltage automatic electric switch that identifies and interrupts power in the event of a fault. In addition, it restores power if the issue is resolved within the reclaim time by completing its auto recloser cycle and closing the circuit breaker. It also enhances the reliability of the system by isolating faulty parts, possesses the capability to automatically restore power to the line after a trip, and serves as a power equipment that interrupts circuits upon detecting faults or abnormalities, effectively averting short circuits, saving costs and minimizes inconveniences caused by frequent power outages. Consequently, reclosers find extensive applications in various industries, shopping malls, and offices to ensure safety and prevent accidents.
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The market is primarily driven by the escalating demand for dependable power distribution devices. In addition, rapid urbanization, the rising population, and the growing application of renewable sources of energy are contributing to the market growth. In line with this, the continuous power consumption led to the widespread adoption of recloser systems for safety purposes, thus influencing the market growth. Moreover, several technological advancements in grid enhancement projects and the introduction of smart grids and distribution automation systems represent another major growth-inducing factor. Besides this, the integration of renewable energy sources such as wind and solar power into the power grid is accelerating the market growth. Along with this, favorable government initiatives, subsidies, incentives for grid modernization initiatives, stringent energy efficiency policies, and the increasing focus on grid resilience and reliability due to increasing natural disasters and extreme weather events are propelling the market growth. Apart from this, the recloser market is growing at different rates in numerous regions, with Asia Pacific being the largest market due to the growing demand for reliable power distribution, the widespread adoption of several renewable energy sources, and extensive investment in grid modernization by public and private sectors across the region. Moreover, the industry is expected to face competition in the upcoming years as numerous key players are implementing competitive strategies to sustain their presence in the market. For instance, in July 2021, CPS Energy introduced a 4-year Accelerated Recloser Deployment Program aimed to install 144 recloser devices across San Antonio, Texas, to sectionalize circuits, allowing better control and focus, and test faults in grids, ultimately enhancing the reliability and resilience of the power system.
The report has segmented the market into the following categories:
Voltage Rating Insights:
Breakup by Region:
The report covers the major market players including:
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