Leading Innovations in Grid Reliability: The Recloser Market’s Path to a Resilient Energy Future (2022-2032)-By PMI
Prophecy Market Insights latest research report on the Recloser Market provides a comprehensive analysis of the current market scenario, growth opportunities, challenges, and emerging trends. The report offers insights into the market’s size and share, key market players, distribution channels, and consumer preferences. It also examines the impact of the COVID-19 pandemic on the market and provides a detailed analysis of the competitive landscape, including strategic alliances, mergers, and acquisitions.
Covina, Oct. 11, 2023 (GLOBE NEWSWIRE) — Reclosers are crucial components in maintaining the reliability and efficiency of electrical grids, as they help reduce the duration and extent of power outages by quickly isolating and restoring power to affected areas.
As the demand for reliable and resilient power supply continues to grow, utilities around the world are investing in grid modernization efforts. Recloser Market play a critical role in these initiatives by improving grid reliability, reducing downtime, and minimizing the impact of outages on customers.
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Key Highlights –
- In November 2021, G&W Electric, a global supplier of electric power equipment since 1905, launched of its Teros Recloser which is available for markets outside the U.S. and Canada. The new Teros recloser may operate in a number of configurations and is intended to increase grid resilience and system reliability. This innovative recloser prevents long-term system disruptions and offers overcurrent protection for transient faults on overhead distribution lines.
|Report Attribute||Report Details|
|Market Size in 2022||US$ 1.4 billion|
|Market Forecast in 2032||US$ 2.4 billion|
|Growth Rate||CAGR of 5.6%|
|Forecast Years||2022- 2032|
|Key Companies Covered||Solomon Corporation, Tavrida Electric Global, BRUSH Group, Hughes Power System, NOJA Power, GE, G&W Electric Co., S&C Electric Company, Siemens, and Eaton.|
|Segments Covered||By Phase Type, By Voltage Rating, By Insulation Medium, and By Region|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
|Customization Scope||You can get in touch with us to have a report made specifically for your company’s needs if our report does not contain the information you are looking for|
- Growing Electricity Demand: The increasing global demand for electricity, particularly in emerging economies, is driving the recloser market as utilities seek to enhance the reliability of their distribution networks.
- Aging Infrastructure: Many power distribution networks are aging and in need of upgrades. The need to modernize these networks to improve reliability and safety is boosting the demand for reclosers.
- Grid Automation: The trend towards smart grid technology and automation is also a significant driver. Reclosers can be integrated into advanced grid systems, allowing for remote monitoring and control.
- Renewable Energy Integration: As more renewable energy sources, such as solar and wind, are integrated into the grid, reclosers play a crucial role in managing intermittent power generation and maintaining grid stability.
- Efficiency and Reliability: Utilities and operators are increasingly focused on improving the efficiency and reliability of power distribution. Reclosers help in reducing downtime and minimizing the impact of faults.
- Environmental Regulations: Environmental concerns are pushing utilities to adopt more sustainable practices. Reclosers can help reduce environmental impact by quickly isolating faults and minimizing energy waste.
Analyst View –
With growing environmental concerns, there is a push for more efficient and sustainable energy distribution. Reclosers contribute to reducing energy losses and improving the overall efficiency of the grid. In many regions, existing power infrastructure is aging and in need of replacement. This presents opportunities for the installation of modern reclosers as part of infrastructure upgrades.
Key Market Insights from the report:
Recloser Market accounted for US$ 1.4 billion in 2022 and is estimated to be US$ 2.4 billion by 2032 and is anticipated to register a CAGR of 5.6%. Recloser Market is segmented based on Type, Temperature, End-use and Region.
- Based on Phase Type, Recloser Market is segmented into Single, Triple-Single, and Three.
- Based on Voltage Rating, Recloser Market is segmented into 28-38 kV, 16-27kV, Up to15 kV.
- Based on Insulation Medium, Recloser Market is segmented into Epoxy, Air, and Oil.
- Based on Control Type, Recloser Market is segmented into Hydraulic, and Electronic.
- By Region, the Recloser Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Competitive Landscape & their strategies of Recloser Market:
The prominent players operating in the Recloser Market includes,
- Solomon Corporation
- Tavrida Electric Global
- BRUSH Group
- Hughes Power System
- NOJA Power
- G&W Electric Co.
- S&C Electric Company
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