ABB (Switzerland) and Eaton (Ireland) are leading players in Recloser Market
The global recloser market is expected to reach USD 1.3 billion by 2027 from an estimated USD 1.0 billion in 2022, at a CAGR of 5.4% from 2022 to 2027. The need for additional power plants to cater to the growing energy demands has become imperative due to the increasing global population. The ever-increasing power demand has resulted in the establishment of new power generation and transmission facilities. Hence, utilities need to improve power reliability, increasing the quality of power supplied to the customers. Developing regions such as Asia Pacific, South America, and the Middle East & Africa are some of the largest markets for power generation. Along with power generation, the demand for distribution automation facilities is also increasing similarly. A wide variety of distribution equipment is used to protect electrical distribution networks. These devices include reclosers, fuses, and overcurrent relays. Recloser has helped minimize the duration of a fault in the distribution system. They also help minimize the number of consumers affected by a fault in the system.
There are several voltage ratings with respect to different end users. A few major players have a wide regional presence and dominate the recloser market. The leading players in the recloser market include ABB (Switzerland), NOJA Power (Australia), Siemens (Germany), Schneider Electric (France), and Eaton (Ireland).
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Product launches are among the key growth strategies adopted by leading companies such as ABB (Switzerland), NOJA Power (Australia), Siemens (Germany), Schneider Electric (France), and Eaton (Ireland) to boost their position in the recloser market. The leading companies in the recloser market focus on partnerships, sales contracts, agreements, product launches, acquisitions, contracts, joint ventures, expansions, and investments to increase their market shares and expand their geographic presence.
ABB is a technology leader in electrification products, power grids, industrial automation, and robotics for utilities, transport, and infrastructure industries. The company’s recloser products are offered under its electrification business segment. Under the same segment, ABB also offers services, products, and connected solutions across the electricity value chain—from the substation to global consumption. In 2020, ABB completed the divestment of 80.1% of its Power Grids business to Hitachi. The divestment allowed ABB to focus on key market trends such as the electrification of transport and industrial sectors, automated manufacturing, digital solutions, and increased sustainable productivity. ABB is focusing on opening a new smart plant wherein it can manufacture power distribution products in India. The factory will manufacture indoor items such as auto reclosers and outdoor products for substations such as live tank vacuum-circuit breakers and gas-insulated switchgear.
Eaton Corporation is one of the worlds leading power management equipment manufacturers that provides energy-efficient solutions to manage electrical, mechanical, and hydraulic power. The company operates through six business segments: Electrical Americas, Electrical Global, Aerospace, Vehicle, Hydraulics, and e-Mobility. The company offers reclosers through its Electrical Americas and Electrical Global segments. These two segments consist of electrical components, industrial components, residential products, single-phase power quality, emergency lighting, fire detection, wiring devices, structural support systems, and circuit protection and lighting products. Electrical products offered through the Electrical Americas and Electrical Global business segments are UPS systems, circuit breakers, meters, sensors, load centres, motor controls, panel boards, inverters, and relays. Eaton has a presence in more than 175 countries worldwide and operates through more than 40 subsidiaries across the globe.
Related Reports:
Recloser Market by Phase Type (Three Phase, Single Phase, and Triple-single Phase), Control Type (Electronic and Hydraulic), Voltage Rating (Up to 15 kV, 16-27 kV, and 28-38 kV), Insulation Medium (Oil, Air, and Epoxy) and Region - Global Forecast to 2027
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