San Francisco, CA -- (SBWIRE) -- 02/25/2020 -- Greater flexibility and automation functionality, combined with advanced protection make electric reclosers control really useful in three-phase and sometime in single phase reclosers. It is also worth noting that it also has an advantage of easy programming over the hydraulic control. Besides, wide range of accessories allow it to be customizable, solving multiple application problems, and contributing heavily to its popularity.

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It is also worth noting that a voltage rating of 15kV is also witnessing extensive use, particularly in distribution network of residential sector. And, as urbanization continues and more commercial buildings are built, market share of 15kV voltage rating would only increase further.

It is pertinent to mention here that population, across the globe, is increasing rapidly. And, by 2050, 2 billion people will be part of the global population which is currently at 7.7 billion. Furthermore, these people will need housing and infrastructure to lead quality life. Thus, it does not come as a surprise, that by just the year of 2030, 85% increase in construction volumes would be noted. That means valuation of construction volumes would hit the USD 15.5 trillion mark. Again, here, it is critical to note that a 57% share of this growth would be held by India, China, and the United States of America.

This growth in construction and building will lead to demand for power and this, in turn, will lead to expansion and automation of distribution systems, helping the global reclose market take a higher growth trajectory over the forecast period.

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At this point, it is noteworthy that as per TMR Research, the global recloser market is set to grow at a steady rate from 2019 to 2029, owing to a number of factors such as industrialization, urbanization, and demand for uninterrupted power supply. Besides, governments in certain region - America and Canada being cases in point - are investing in grid automation.

It is worth noting here that the pursuit of energy efficiency will also pave way for higher demand for reclosers over the forecast period. But, only cost effectiveness will sustain it as most obsolete systems are found in developing regions of the world.

Asia Pacific to Stay Ahead of Other Regional Markets from 2019 to 2029

The distribution network in Asia Pacific region lags on a number of counts and that leads to inefficiency. This calls for serious refurbishment measures to be taken, adding to demand for reclosers. Besides, installation of new lines for distribution, which is a result of rapid urbanization and massive industrialization, is also spurring demand for reclosers in the regional market. Additionally, the increase in investment in smart grid technology is also playing a crucial role in helping the market chart a respectable trajectory over the assessment period.

However, it is worth noting here that North America will also account for significant contribution to the overall market growth owing to government efforts towards automating distribution and upgrading existing systems. And, as consumption of power increases, automation become the only viable way forward. This is also leading to growth in Europe.

Market Players to Focus on Developing Economies over the Forecast Period

In order to tap into the new business opportunities, set to emerge, in the developing regions of the world, market players are directing efforts towards these economies in order to make the most of these. Major players in the global recloser market are ABB Limited, Eaton Corporation, Schneider Electric, Siemens, NOJA Power Switchgear Pty Ltd., Tavrida Electric, Hubbell Incorporated, HUGHES POWER SYSTEM, S&C Electric Company, G&W Electric, ENTEC ELECTRIC & ELECTRONIC, Arteche, Shinsung Industrial Electric Co. Ltd., ENSTO GROUP, Wenzhou Rockwell transformer Co. Ltd.

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