Electronic Recloser Market Size & Share, By Phase (Single Phase, Three Phase, Triple Single Phase); Voltage Ratings (15 kV, 27 kV, 38 kV); Interruption (Oil, Vacuum); Application (Substation, Electricity Grid)-Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5898
  • Published Date: Mar 19, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Electronic Recloser Market size is expected to reach USD 2 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of electronic recloser was USD 1 Billion. The rising demand for electricity across the world will primarily propel the market of the electronic recloser market by the end of 2036. Worldwide requests for energy generation will reach around 660 quadrillion Btu in 2050, up approximately 15% versus 2021, reflecting a developing populace and rising thriving. The accessibility of vitality has changed the course of humankind over the last few centuries. Not as it had unused sources of vitality been opened - to begin with fossil fills, taken after by expansion to atomic, hydropower, and presently other renewable advances - but moreover within the amount ready to deliver and devour.

Another reason behind the massive growth of the electronic recloser market because of the increasing consumption of electricity worldwide. In 2020, the world added up to power last utilization came to 22 848 TWh, up 1.7% from 2018. In 2020, OECD add-up to power last utilization was 9 672 TWh, 1.1% lower than in 2018, whereas the last power utilization in non-OECD nations was 13 176 TWh, an increment of 3.8% from 2018. The accessibility of vitality has changed the course of humankind over the last few centuries. Not as it has modern sources of vitality been opened - to begin with fossil powers, taken after by enhancement to atomic, hydropower, and presently other renewable innovations-but too within the amount able to create and expend.


Electronic Recloser Market Overview
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Electronic Recloser Market: Growth Drivers & Challenges

Growth Drivers

  • The Increasing Requirement to Maintain Conventional Distribution System-Dissemination systems have been customarily detached, missing any sort of vitality sources. It is regularly accepted that there are no synchronous machines inside these systems. Something else, their impacts ought to be considered in framework security. Dissemination feeders are generally spiral, and the vitality of upstream sources slips to the downstream loads and shoppers. With this straightforward structure, defensive gadgets (PDs) will incorporate an overcurrent (OC) hand-off, combine, and/or recloser. With these contemplations, the plan, and execution of PDs are exceptionally direct. Blame current limiter (FCL) is one of the finest choices for understanding security issues in dynamic dispersion systems comprising scattered eras (DG). Due to the nonlinear nature of assurance issues and characteristics of defensive gadgets (PDs), the choice of FCL type and determination is one of the most challenging of this approach.
  • Increasing Investments in Smart Grids - Grid-technology developments are making openings to drive esteem over T&D workflows. Whereas utilities in more progressed economies have as of now gone through a few rounds of speculations in grid-modernization innovations such as shrewd meters, framework administration frameworks (DMS/TMS), asset-management stages, and geospatial data frameworks (GIS), these frameworks were generally seen as confined arrangements serving siloed framework necessities. Nowadays, progressed cloud innovation, program designing models, and data-governance hones are clearing the way for transformational utilization cases that cross the boundaries of personal frameworks.
  • The Increasing Need for the Restoration of Existing Electrical Networks - Arrange disappointments are undesirable but unavoidable events for most cutting-edge communication and computing systems. A great arranged plan must be strong sufficient to handle sudden disappointments, keep up the activity stream, and reestablish fizzled parts of the arrangement inside a passable time outline, at the least taking a toll achievable and with as small additional complexity within the arrangement as conceivable. Rising next-generation (xG) communication and computing systems such as fifth-generation systems, software-defined systems, and internet-of-things systems have guarantees of quick speeds, amazing information rates, and surprising unwavering quality. 

Challenges

  • High Cost of Electrical Reclosers - The high cost will impede the electronic recloser market. A recloser is a programmed, high-voltage electric switch. Like a circuit breaker on family electric lines, it closes off electric control when an inconvenience happens, such as a brief circuit. Where a family circuit breaker stays closed off until it is physically reset, a recloser usually tests the electrical line to determine whether the inconvenience has been evacuated. On the off chance that the issue was as it were brief, at that point the recloser consequently resets itself and reestablishes the electric control. Reclosers are utilized all through the control conveyance framework, from the substation to private utility shafts. They run from little reclosers for implementation on single-phase control lines, to bigger three-phase reclosers utilized in substations and on high-voltage control lines up to 39,000 volts. 
  • Disruption of the Supply Chain System
  • The Attainability of Cheap Substitution

Electronic Recloser Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

∼5%

Base Year Market Size (2023)

~USD 1 Billion

Forecast Year Market Size (2036)

~USD 2 Billion

Regional Scope

  • Asia Pacific (Japan, China, India, Australia, Others)
  • North America (North America, Canada, Mexico)
  • Europe (Germany, Spain, UK, France, Italy, Russia, Others)
  • Middle East and Africa (South Africa, UAE, Others)
  • Latin America (Brazil, Argentina, Others)
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Electronic Recloser Segmentation

Phase (Single Phase, Three Phase, Triple Single Phase)

The three-phase segment will grow the most by the forecast period and will hold almost 47% of the electronic recloser market because of the increasing demand for the three-phase reclosers. Medium Voltage Three-Phase Reclosers are gadgets utilized in electrical control dispersion systems to secure and control the stream of power. They are regularly introduced on overhead control lines and naturally separate defective segments of the line to avoid control blackouts and minimize downtime. Besides, the integration of progressed advances, such as advanced transfers and brilliantly electronic gadgets, into Medium Voltage Three-Phase Reclosers is anticipated to upgrade their execution and usefulness. This, in turn, is likely to drive showcase development as utilities and control dispersion companies progressively receive these present-day arrangements to progress control framework unwavering quality. In addition, the fast industrialization and urbanization seen in creating economies are driving development in control dispersion systems, moving the request for Medium Voltage Three-Phase Reclosers thus, it will help this segment to have the largest share in the electronic recloser market.

Voltage Ratings (15 kV, 27 kV, 38 kV)

The 15 kV segment will have superior growth during the forecast period. It will hold around 50% of the revenue share of the electronic recloser market owing to the increasing use of 15 kV electronic reclosers worldwide. The showcase for reclosers for the 15 kV voltage rating portion is anticipated to extend due to the rising development of the electrical dispersion systems and the endeavors of dissemination utilities to reduce control blackouts within the private segment. Speculations in renewable vitality and the extending mechanical and commercial segment, which incorporates colossal shopping centers, clinics, and inns are likely to drive the showcase for 15 kV reclosers. Reclosers spare the electric companies significant time and cost since they allow control to be reestablished naturally, after as it were a glint or two. For blackouts that require a repair group, reclosers minimize the blackout range and offer assistance to the groups to rapidly find the issue and reestablish control.

our in-depth analysis of the global electronic recloser market includes the following segments:

          Phase

  • Single Phase
  • Three Phase
  • Triple Single Phase

          Voltage Ratings

  • 15 kV
  • 27 kV
  • 38 kV

          Interruption

  • Oil
  • Vacuum

          Application

  • Substation
  • Electricity Grid

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Electronic Recloser Industry - Regional Synopsis

APAC Market Analysis

The electronic recloser market in the APAC region will have the biggest growth during the forecast period with a revenue share of around 40%. This growth will be noticed owing to the region’s increasing population. For instance, the Chinese populace came to a most extreme of 1,412.6 million individuals in 2021 but diminished by 850,000 in 2022 and another 2.08 million in 2023. Until 2022, China was still positioned as the world's most crowded nation, but it was surpassed by India in 2023. Separated from the populace, a clear development slant in Chinese cities is obvious. By 2023, more than 66 percent of Chinese individuals lived in urban ranges, compared to just 36 percent in 2000.

North American Market Statistics

The electronic recloser market in the North American region will also encounter huge growth during the forecast period and will hold the second position owing to the increasing use of electronics in this region. The gadgets segment for the most part produces customer hardware, and electronic hardware, and fabricates electrical components for an assortment of products. Customer hardware is a key component within the gadgets industry and for great reason. Agreeing to Priority Research's 2022 advertising report, the worldwide showcase for shopper hardware is anticipated to develop at a compound yearly development rate (CAGR) of approximately 5.1% from 2022 to 2030, surpassing USD 1 trillion.

Research Nester
Electronic Recloser Market Regional
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Companies Dominating the Electronic Recloser Market

top-features-companies
    • ABB Ltd.
      • Company Overview
      • Business Planning
      • Main Product Offerings
      • Financial Execution
      • Main Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Eaton Corporation
    • Schneider Electric
    • Siemens Energy A.G.
    • Hubbell
    • S&C Electric Company
    • Tavrida Electric
    • Entec Engineering Company
    • G&W Electric CO.
    • Noja Power Switchgear Pty Ltd.

In-the-news

In The News

March 13, 2024: ABB Ltd. nowadays opened its refitted US mechanical technology central command and fabricating office in Coppery Slopes, Michigan, which can back ABB Robotics' worldwide administration in developing and fabricating cutting-edge automated arrangements within the US, for the US and the Americas. 

March 08, 2024: ABB Ltd. has been granted a USD$150 million contract in February 2024 to supply total footing bundles, as well as designing and benefit bolster for each of the 65 six-car traveler trains to be conveyed by the Queensland Prepare Fabricating Program (QTMP) in Australia.

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5898
  • Published Date: Mar 19, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The rising demand for electricity across the world will majorly drive the growth of the electronic recloser market.

The market size of the electronic recloser market is expected to get a CAGR of approximately 5% over the forecast period, i.e., 2024-2036.

The major players in the market are ABB Ltd., Eaton Corporation, Schneider Electric, Siemens Energy A.G., Hubbell, S&C Electric Company, Tavrida Electric, Entec Engineering Company, G&W Electric CO., Noja Power Switchgear Pty Ltd., Fuji Electric Global, Mitsubishi Electric Corporation, Panasonic Corporation, Toshiba Corporation.

The three-phase segment is anticipated to reap the largest market size with almost 47% by the end of 2036 and demonstrate substantial growth scopes.

The market in the APAC region is expected to have the largest market share by the end of 2036 and provide more business opportunities in the future.
Electronic Recloser Market Report Scope
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