Albany, NY -- (SBWIRE) -- 10/17/2016 -- The global reclosers market is studied in a new report by Transparency Market Research (TMR). The report is titled, 'Reclosers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.' According to the report, the global reclosers market is expected to expand at a CAGR of 3.9% from 2014 to 2019, owing to the rising need to reduce outage cost and the demand for upgradation of power infrastructures, among other factors. The study presents a detailed overview of the market's historical development trajectory and its current and projected size. An in-depth analysis of these statistics is used to derive insightful information about the reclosers market's future growth.

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The global reclosers market is fragmented with key players such as Eaton Corporation, Mitsubishi Electric Corporation, ABB Ltd., General Electric Company, and Siemens AG, accounting for significant shares in the market. Key players in the market are expanding their economies of scale by merging, acquiring, and collaborating with other companies so as to achieve product efficiency. According to a TMR analyst, "Developing countries in Asia Pacific and the Rest of the World are projected to be the new key revenue contributors for the global reclosers market. Key players are expanding their reach to penetrate in the developing economies and employing various strategies to grab the market share." An increasing demand for energy will ensure that the global reclosers market thrives in the period from 2016 to 2024.

According to the report, the market has low entry and exit barriers. The scope of the report aids investors to identify the high growth segments in the market and help in making key investment decisions. The report segments the global reclosers market on the basis of control, geography, and phase of product. On the basis of phase, the market is segmented into single phase, triple phase, and triple-single phase reclosers. By type of control, the reclosers market is segmented into hydraulic and electric.

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By geography, developed countries as Italy, Germany, the U.K., and France are significant producers and consumers of reclosers. These countries are also key exporters of reclosers. In North America, the U.S is a key revenue generator for the reclosers market owing to robust and uninterrupted transmission lines across the country to power industries and cities. In the future however, it is expected that the industrial growth and need to supply constant flow of electricity across manufacturing hubs will drive the demand for reclosers in Asia Pacific, making it a lucrative regional market.

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