According to a new report, published by KBV research, The Global Recloser Market size is expected to reach $1.6 billion by 2031, rising at a market growth of 4.9% CAGR during the forecast period.
The Electronic segment is generating the highest revenue the Global Recloser Market by Control Type in 2023; thereby, achieving a market value of $1 billion by 2031. Reclosers with electronic control offer improved reliability compared to traditional hydraulic or mechanical reclosers. Electronic control allows for more precise operation and better coordination with other protective devices on the grid. Electronic control reclosers often come equipped with monitoring and communication capabilities, allowing utilities to remotely monitor the device's status and receive real-time data on grid conditions. This enhances grid management and enables quicker response to faults.
The Single Phase segment is registering a CAGR of 5.2% during (2024 - 2031). Single-phase reclosers play a crucial role in the recloser market, particularly in applications where predominantly single-phase electrical distribution systems or individual circuits need targeted protection. In some cases, single-phase reclosers may be used as backup or redundant protection devices in addition to three-phase reclosers. They provide an extra layer of protection for critical circuits or equipment, enhancing the overall reliability of the distribution system.
The Upto 15 KV segment is leading the Global Recloser Market by Voltage Rating in 2023; thereby, achieving a market value of $938.9 million by 2031. This segment caters to the specific needs of medium-voltage electrical distribution systems, providing essential protection, control, and management capabilities to ensure electrical networks' reliable and efficient operation within this voltage class. Reclosers in the 15kV segment are designed to operate reliably under various environmental conditions, including temperature extremes, humidity, and exposure to outdoor elements.
The Epoxy segment is experiencing a CAGR of 4.5% during (2024 - 2031). The use of epoxy materials in recloser construction contributes to these devices' overall reliability, durability, and performance, making them suitable for outdoor applications in electrical distribution networks. Additionally, epoxy-based reclosers typically require less maintenance and have longer service lives than alternatives, enhancing their appeal in the market.
Full Report: https://www.kbvresearch.com/recloser-market/
The Asia Pacific region dominated the Global Recloser Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $620.7 million by 2031. The Europe region is anticipating a CAGR of 4.4% during (2024 - 2031). Additionally, The North America region would exhibit a CAGR of 4.2% during (2024 - 2031).
By Control Type
By Phase
By Voltage Rating
By Insulation Medium
By Geography
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