The global recloser market (including sectionalizer) is projected to reach USD 2,461 million by 2025 from an estimated market size of USD 1,943 million in 2020, at a CAGR of 4.8% during the forecast period. The factors driving the market include increasing demand of power, expansion of transmission and distribution (T&D) networks. Additionally increasing investments in renewable energy sector and smart grid projects are also the key factors contributing the growth of recloser and sectionalizer market.
Asia Pacific is expected to be the largest market for recloser and sectionalizer during the forecast period. The growth can be attributed to favorable government policies and initiatives by various countries such as India, China, South Korea, and Australia etc. Also, the increasing power demand, and expansion of T&D networks in economies such as India, South Korea, Japan and China which acts as a key factor responsible for the growth of the recloser and sectionalizer market in this region.
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The recloser market, by phase, is segmented into three phase, single phase, and triple single phase. The three phase segment is expected to be the largest recloser market, by phase, during the forecast period. This growth in the three phase segment can be attributed to the increasing demand for three-phase reclosers in industrial applications due to their large power-carrying capacity and suitability for the operation of heavier electrical equipment.
The recloser market, by control type, is segmented into electronic and hydraulic. The electronic segment is expected to grow at the highest rate during the forecast period. This growth can be attributed to the increased demand of electronic recloser because of its compatibility with smart grids. Also, the increasing global demand for grid modernization such as distribution automation is one of the key reason for the growth of electronic recloser control market.
The recloser market, by voltage, is segmented into Up to 15 KV, 16-27 KV, and 28-38 KV. Up to 15 KV segment is expected to be the largest recloser market, by voltage, during the forecast period. The demand for Up to 15 KV segment is expected to grow because of increase in residential power distribution capacity to cater the increasing demand for electricity in residential areas. Asia Pacific, which is also the largest market for recloser, is expected to dominate Up to 15 KV segment as well in the forecast period.
The sectionalizer market, by phase, is segmented into three phase, and single phase. The three phase segment is expected to be the largest sectionalizer market, by phase, during the forecast period. This growth in the three phase segment can be attributed to the increasing demand for three-phase sectionalizers in industrial applications due to their large power-carrying capacity and suitability for the operation of heavier electrical equipment.
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The sectionalizer market, by control type, is segmented into resettable electronic and programmable resettable. The resettable electronic segment is expected to grow at the highest rate during the forecast period. This growth can be attributed to the enhanced system coordination, service continuity, and reliability offered by the resettable electronic sectionalizer which would drive the market of resettable electronic segment in the forecast period.
