Energy and Power

Recloser Market is Expected to Reach USD 1,503.0 Million by 2031

May 2024

Energy and Power

As per the report published by Kings Research, the global Recloser Market was valued at USD 916.7 million in 2023 and is projected to reach USD 1,503.0 million by 2031, growing at a CAGR of 6.36% from 2024 to 2031.

The global recloser market is experiencing significant growth propelled by the increasing demand for electricity in emerging economies. Countries such as India, China, Brazil, and several others are witnessing rapid urbanization, industrialization, and infrastructure development, leading to a surge in electricity consumption. For instance, in India, the government has initiated ambitious electrification programs such as "Pradhan Mantri Sahaj Bijli Har Ghar Yojana" (Saubhagya), aimed at providing electricity to all households in both urban and rural areas. This initiative is expected to spur investments in the power sector and drive the demand for reclosers.

Moreover, the growing adoption of renewable energy sources, particularly solar and wind, to meet sustainability goals, is contributing significantly to the expansion of the recloser market. As renewable energy installations are on the rise, the need for robust grid infrastructure capable of managing intermittent power generation and ensuring grid stability is estimated to support market growth. Reclosers play a crucial role in minimizing downtime and improving the reliability of distribution networks. Furthermore, advancements in smart grid technologies and the integration of digital solutions are enhancing the efficiency and performance of reclosers, further fueling market growth. These technological innovations enable utilities to remotely monitor and control recloser operations, optimize grid management, and proactively address power disruptions, thereby fostering the adoption of recloser solutions globally.

Key Insights

  • Based on phase type, the three phase segment held the largest market share of 68.00% in 2023
  • Based on voltage, the low segment generated the highest revenue of USD 503.3 million in 2023
  • Based on control type, the electronic segment is anticipated to generate a value of USD 952.9 million by 2031
  • On the basis of region, Europe is projected to garner a revenue of USD 417.8 million by 2031

Increased Focus on Grid Automation to Aid Recloser Market Growth

As utilities seek to enhance operational efficiency, optimize grid performance, and improve reliability, there is a rising emphasis on automation technologies. Reclosers play a pivotal role in grid automation by enabling automated fault detection, isolation, and restoration processes. By deploying advanced recloser solutions with intelligent controls and communication capabilities, utilities are streamlining grid operations, reducing response times to outages, and minimizing downtime. Moreover, grid automation facilitates proactive maintenance and predictive analytics, enabling utilities to identify potential risks before they escalate, thereby improving overall grid reliability and customer satisfaction.

Expansion of Smart Cities Initiatives to Offer Promising Opportunities for Recloser Market Development

The expansion of cities worldwide toward becoming more sustainable, efficient, and technologically advanced has propelled the demand for intelligent infrastructure solutions, including smart grids and recloser systems. Reclosers equipped with smart sensors, communication modules, and advanced analytics capabilities play a crucial role in enhancing the reliability and resilience of urban power networks. By integrating reclosers into smart city ecosystems, utilities are improving fault detection and response, optimizing energy distribution, and supporting the integration of renewable energy sources. Furthermore, smart city projects offer opportunities for collaboration between utilities, municipalities, and technology providers to innovate and deploy next-generation recloser solutions tailored to urban environments.

Growing Adoption of Microgrid Solutions to Foster Market Expansion

Microgrids offer decentralized and resilient electricity supply solutions, particularly suitable for remote or off-grid areas, industrial facilities, and critical infrastructure sites. Reclosers play a vital role in microgrid operation by enabling autonomous islanding, fault isolation, and seamless transition between grid-connected and islanded modes. As the demand for reliable and resilient power solutions is increasing, especially in regions prone to grid instability or natural disasters, there is a significant opportunity for recloser manufacturers to provide tailored solutions for microgrid applications. By leveraging advanced recloser technologies and integrating them into microgrid control systems, utilities, and industrial users are enhancing energy security, optimizing energy management, and ensuring uninterrupted power supply in diverse operational environments.

Europe to Experience the Highest Growth at a CAGR of 7.12% over 2024-2031 Due to EU’s Renewable Energy Targets

Based on region, the global recloser market is classified into North America, Europe, Asia Pacific, MEA, and Latin America. Europe is anticipated to witness significant growth in the foreseeable future. The European Union's ambitious renewable energy targets and rising emphasis on grid modernization to support clean energy integration are driving investments in recloser technologies. Additionally, the region's focus on enhancing grid resilience due to extreme weather events is boosting the demand for reclosers with advanced protection and self-healing capabilities. Moreover, regulatory initiatives promoting smart grid deployment and demand response programs are fostering the adoption of intelligent recloser solutions in Europe. Furthermore, collaborations between utilities, research institutions, and technology providers are driving innovation in recloser technologies, positioning Europe as a key market in the global recloser industry. Moreover, the presence of industry giants in the region has augmented technological innovation for the reclosers. Advancements in areas such as artificial intelligence, data analytics, and the Internet of Things (IoT) are driving the development of intelligent recloser solutions capable of predictive maintenance, real-time monitoring, and adaptive grid management.

Prominent Companies Forge Agreements to Enhance Industry Presence

The global recloser market is fragmented with key players such as Schneider Electric, ABB, Tavrida Electric, Eaton, NOJA Power Switchgear Pty Ltd, Siemens, S&C Electric Company, Hubbell, ARTECHE, CG Power & Industrial Solutions Ltd, and others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

Get the latest!

Get actionable strategies to empower your business and market domination

  • Deliver Revenue Impact
  • Demand Supply Patterns
  • Market Estimation
  • Real-Time Insights
  • Market Intelligence
  • Lucrative Growth Opportunities
  • Micro & Macro Economic Factors
  • Futuristic Market Solutions
  • Revenue-Driven Results
  • Innovative Thought Leadership