Electronic Recloser Market Forecasts 2036
Research Nester’s recent market research analysis on “Electronic Recloser Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global electronic recloser market in terms of market segmentation by phase, voltage ratings, interruption, application and by region.
Increased Investments in Smart Grids and Rising Requirements for the Restoration of Existing Electrical Networks to Promote the Global Market Share of the Electronic Recloser Market
The global electronic recloser market is estimated to grow majorly on account of the increased emphasis on smart grid technology integration along with the amalgamation of communication connectivity and interface options. Electronic reclosers are becoming integral components of smart grids for allowing real-time monitoring and data analytics. Reclosers are switching devices utilized in medium voltage overhead lines and substations to avoid longer network interruptions. Other than this, the rising consumption of electricity is also fueling the global electronic recloser market during the forecast period. It has been observed that in the year 2022, global electronic recloser market was almost 24,399 terawatt hours. There has been increased demand from the commercial and residential sectors which is leading to rising investment in the generation of power from renewable energy. It has been estimated that by the year 2028, almost 42.1% of global electricity generation will be done with the use of renewable energy sources. Other than this, the growing urbanization and technological development are enabling more industrialization and commercialization in the country. Automatic fault isolation and overcurrent protection are some of the other factors fueling the growth of the global electronic recloser market during the forecasted period. These are the primary factors boosting the growth of the global electronic recloser market during the forecasted period.
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Some of the major growth factors and challenges that are associated with the growth of the global electronic recloser market are:
Growth Drivers:
• Rising Investment in Smart Grids
• Surge in Requirement to Maintain Conventional Distribution System
Challenges:
High costs of the electrical recloser, disruption of supply chain system, and availability of cheap substitution rare some of the major factors anticipated to hamper the market size of global electronic recloser market.
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By phase, the global electronic recloser market is segmented into single phase, three phase, triple single phase. Out of these, the 3 phase segment is expected to hold 47.1% share during the forecasted period. The segment is expected to grow significantly on the back of increasing utility in control dispersion companies.
By region, the Europe electronic recloser market is to generate the highest revenue by the end of 2036. The growth of the market in the region can be attributed to the rising demand for electricity in the region. Other than this, the rising investment to generate electricity from renewable sources is also a growth-propelling factor.
This report also provides the existing competitive scenario of some of the key players of the global electronic recloser market which includes company profiling of 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 and others.
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