United States Recloser Market Size to Grow at Steady CAGR of 7% during 2022–2028

Published | 11 November 2022

United States recloser market is growing because of increasing instrumentation of distribution automation solutions, expanding transmission and distribution (T&D) networks, and increasing investments to enhance the renewable energy sector.
 

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects United States Recloser Market size to expand at a steady CAGR of 7% during the forecast period between 2022 and 2028. Major factors for the expansion of United States recloser market are key stakeholders’ increasing investments in the renewable energy industry and smart grid initiatives, and a surging demand for power restoration automation and data collection. Furthermore, the US government is investing in the expansion of existing grids and building new ones to improve power transmission and distribution (T&D) networks across the country. Additionally, expanding urban areas and developments across a variety of industries, as well as economic growth, are driving up demand for power, resulting in increased deployment of reclosers. Microprocessor system’s technology advancements and the expansion of T&D networks are also propelling the United States recloser market forward. However, increasing competition from unorganized sector and availability of cheap alternatives to reclosers are anticipated to hamper the overall market growth during the period in analysis.

United States Recloser Market - Overview

Reclosers are a part of electrical power equipment that function as a circuit's electric switch. To avoid short circuits, reclosers automatically cut the circuit when they detect any flaws or abnormalities in the power supply. Reclosers detect the faulty line that is causing the problem and then immediately remove the fault. They are capable of automatically and manually resetting faults and restoring power supply. When a fault occurs in a circuit more than three times, the recloser shuts the power supply to prevent any accidents. Reclosers are commonly employed to avoid short circuits in factories, manufacturing units, malls, and workplaces.

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Increasing focus on enhancing T&D network to provide the market with growth opportunities

The global power sector is undergoing a transition to expand the power generating segment to private enterprises. Growing electricity consumption is exerting enormous strain on public and government-owned power suppliers, driving governments across the world to open the power industry to private players. These independent suppliers can meet daily power demands and are also keen to invest in the transmission and distribution (T&D) networks and sectors to improve power infrastructure.

Impact of COVID-19 on United States Recloser Market

COVID-19 adversely affected the United States recloser market due to the imposition of lockdowns and the employees were being asked to work from home and production sectors were temporarily closed. As a result, several companies reduced their manufacturing and supply activities, putting a stop to the requirement for reclosers. However, surging demand for power has led to development of T&D networks, and rising investments in the renewable energy sector and smart grid projects have boosted the demand for reclosers. Furthermore, rising technological advancements and other strategic alliances by market key players could provide lucrative growth opportunities for the recloser market in the United States.

Segmental Information

United States Recloser Market - By Insulation Medium

Based on insulation medium, United States recloser market is segmented into Epoxy, Oil, and Air. The epoxy segment is expected to hold the highest market share during period in analysis, because epoxy is designed to be employed in distribution feeders or substations to optimize long-term reliability while minimizing routine maintenance requirements. Furthermore, epoxy insulating medium reclosers are a key component of a transmission network, and they are deployed within substations to regulate the flow of enormous amounts of electric power across an electric network. As the country's electrification grows, the transmission network will also expand, resulting in a surge in demand for epoxy insulating medium recloser in new transmission substations.

Competitive Landscape

United States Recloser Market is highly competitive with the presence of prominent players such as Schneider Electric, ABB Limited, Easton Corporation, Cooper Industries, G &W Electric, Hubbell, Ghorit Electricals, and S&C Electric Company. To further enhance their market share, these leading players are primarily focused on the development of innovative and efficient products, new product releases, market initiatives, mergers and acquisitions, and other collaborative activities.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics United States Recloser Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in United States Recloser Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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