DUBLIN, Oct. 12, 2023 /PRNewswire/ — The “Recloser Controls – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global recloser controls market, which was valued at $1.1 billion in 2022, is projected to grow to $1.8 billion by 2030, with a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2022 to 2030.
The market analysis highlights two key segments: electric and hydraulic, with the electric segment projected to record a 6.6% CAGR and reach $1.1 billion by 2030.
Market Trends and Opportunities
Electric Segment Growth: The electric segment is forecasted to achieve a 6.6% CAGR, reaching $1.1 billion by 2030. This growth is driven by the increasing adoption of electric recloser controls in various applications, including the power distribution sector.Hydraulic Segment Expansion: The hydraulic segment is estimated to grow at a 4.4% CAGR over the next eight years. While electric controls are gaining prominence, hydraulic recloser controls still have a role to play in specific applications.Regional Insights
U.S. Market: The recloser controls market in the U.S. is estimated at $237.6 million in 2022.China’s Growth: China, the world’s second-largest economy, is forecast to reach a market size of $382.1 million by 2030, with an impressive CAGR of 7.4% during 2022-2030.Other Noteworthy Markets: Japan and Canada are expected to grow at 3.9% and 5.5%, respectively, over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR.Key Competitors
The recloser controls market includes 23 featured competitors. Some of the key players in the market include:
Siemens AGSchneider Electric SES&C Electric CompanyGE Grid SolutionsSchweitzer Engineering Laboratories, Inc.Hughes Power SystemCreative Distribution Automation Co., Ltd.Entec Electric & Electronic Co. Ltd.Southern States LLC.Tavrida Electric AGShinsung Industrial Electric Co., Ltd.BH System Co., Ltd.Economic Outlook
The global economic outlook is gradually improving, with signs of growth recovery in the near term. While various challenges persist, governments and businesses are adapting to address them.
New technologies, including AI, machine learning, cloud computing, and quantum technologies, are expected to drive incremental growth and value to the global GDP in the coming years. While corporate investments may face challenges due to inflation concerns and demand fluctuations, the rise of these technologies opens up new investment opportunities.
The short-term economic landscape presents a mix of challenges and opportunities for consumers and investors. Businesses that can chart a path forward with resilience and adaptability are well-positioned to seize opportunities in this evolving economic environment.
What`s New?
Special discussions on the global economic climate and market sentimentCoverage on global competitiveness and key competitor percentage market sharesMarket presence analysis across multiple geographies – Strong/Active/Niche/TrivialOnline interactive peer-to-peer collaborative bespoke updatesAccess to digital archives and trademarked research platformComplimentary updates for one yearAccess to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotesKey Topics Covered: I. METHODOLOGYII. EXECUTIVE SUMMARY1. MARKET OVERVIEW
Influencer Market InsightsWorld Market TrajectoriesImpact of Covid-19 and a Looming Global RecessionRecloser Control Market: A PreludeTypes of Recloser Control SystemsThree-Phase Segment Leads the Recloser Control MarketRecloser Controls – Global Key Competitors Percentage Market Share in 2022 (E)Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)Electric Recloser Control Segment Holds Majority ShareGeographic Market AnalysisAging Power T&D Infrastructure and the Need for Replacement in Developed Markets Drives GrowthRECENT MARKET ACTIVITY2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERS
Rise in Distribution Automation for Power Quality and Reliability Drives GrowthSubstation Automation Drives Use of Recloser ControllersIncreasing Demand for Power Augurs Well for Market GrowthProjected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040Expansion and Modernization of T&D Networks Hold Potential for GrowthSmart Reclosers: One of the Promising Technologies up for Adoption by Electric UtilitiesCompanies Focus on Technology Upgrades to Support Smart Grid ReliabilityGrowth in Renewable Power Generation Augurs Well for Reclosers MarketWorld Energy Production (in Billion Kilowatt Hours) by Energy Source for the Years 2017, 2020, 2030 and 2040Transition to Smart Grid Infrastructure Drives Market GrowthGlobal Investments in Smart Grids in US$ Billion: 2017, 2020 and 20234. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/drmxbw
About ResearchAndMarkets.comResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and MarketsLaura Wood, Senior Managerpress@researchandmarkets.com For E.S.T Office Hours Call +1-917-300-0470For U.S./CAN Toll Free Call +1-800-526-8630For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907Fax (outside U.S.): +353-1-481-1716
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View original content:https://www.prnewswire.com/news-releases/electric-segment-dominates-recloser-controls-market-set-to-achieve-1-1-billion-by-2030-with-a-6-6-cagr—key-market-trends-unveiled-301955264.html
SOURCE Research and Markets
DUBLIN, Oct. 12, 2023 /PRNewswire/ — The “Recloser Controls – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global recloser controls market, which was valued at $1.1 billion in 2022, is projected to grow to $1.8 billion by 2030, with a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2022 to 2030.
The market analysis highlights two key segments: electric and hydraulic, with the electric segment projected to record a 6.6% CAGR and reach $1.1 billion by 2030.
Market Trends and Opportunities
Electric Segment Growth: The electric segment is forecasted to achieve a 6.6% CAGR, reaching $1.1 billion by 2030. This growth is driven by the increasing adoption of electric recloser controls in various applications, including the power distribution sector.Hydraulic Segment Expansion: The hydraulic segment is estimated to grow at a 4.4% CAGR over the next eight years. While electric controls are gaining prominence, hydraulic recloser controls still have a role to play in specific applications.
Regional Insights
U.S. Market: The recloser controls market in the U.S. is estimated at $237.6 million in 2022.China’s Growth: China, the world’s second-largest economy, is forecast to reach a market size of $382.1 million by 2030, with an impressive CAGR of 7.4% during 2022-2030.Other Noteworthy Markets: Japan and Canada are expected to grow at 3.9% and 5.5%, respectively, over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR.
Key Competitors
The recloser controls market includes 23 featured competitors. Some of the key players in the market include:
Siemens AGSchneider Electric SES&C Electric CompanyGE Grid SolutionsSchweitzer Engineering Laboratories, Inc.Hughes Power SystemCreative Distribution Automation Co., Ltd.Entec Electric & Electronic Co. Ltd.Southern States LLC.Tavrida Electric AGShinsung Industrial Electric Co., Ltd.BH System Co., Ltd.
Economic Outlook
The global economic outlook is gradually improving, with signs of growth recovery in the near term. While various challenges persist, governments and businesses are adapting to address them.
New technologies, including AI, machine learning, cloud computing, and quantum technologies, are expected to drive incremental growth and value to the global GDP in the coming years. While corporate investments may face challenges due to inflation concerns and demand fluctuations, the rise of these technologies opens up new investment opportunities.
The short-term economic landscape presents a mix of challenges and opportunities for consumers and investors. Businesses that can chart a path forward with resilience and adaptability are well-positioned to seize opportunities in this evolving economic environment.
What`s New?
Special discussions on the global economic climate and market sentimentCoverage on global competitiveness and key competitor percentage market sharesMarket presence analysis across multiple geographies – Strong/Active/Niche/TrivialOnline interactive peer-to-peer collaborative bespoke updatesAccess to digital archives and trademarked research platformComplimentary updates for one yearAccess to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market InsightsWorld Market TrajectoriesImpact of Covid-19 and a Looming Global RecessionRecloser Control Market: A PreludeTypes of Recloser Control SystemsThree-Phase Segment Leads the Recloser Control MarketRecloser Controls – Global Key Competitors Percentage Market Share in 2022 (E)Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)Electric Recloser Control Segment Holds Majority ShareGeographic Market AnalysisAging Power T&D Infrastructure and the Need for Replacement in Developed Markets Drives GrowthRECENT MARKET ACTIVITY
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Rise in Distribution Automation for Power Quality and Reliability Drives GrowthSubstation Automation Drives Use of Recloser ControllersIncreasing Demand for Power Augurs Well for Market GrowthProjected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040Expansion and Modernization of T&D Networks Hold Potential for GrowthSmart Reclosers: One of the Promising Technologies up for Adoption by Electric UtilitiesCompanies Focus on Technology Upgrades to Support Smart Grid ReliabilityGrowth in Renewable Power Generation Augurs Well for Reclosers MarketWorld Energy Production (in Billion Kilowatt Hours) by Energy Source for the Years 2017, 2020, 2030 and 2040Transition to Smart Grid Infrastructure Drives Market GrowthGlobal Investments in Smart Grids in US$ Billion: 2017, 2020 and 2023
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/drmxbw
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/electric-segment-dominates-recloser-controls-market-set-to-achieve-1-1-billion-by-2030-with-a-6-6-cagr—key-market-trends-unveiled-301955264.html
SOURCE Research and Markets
