Electric Segment Dominates: Recloser Controls Market Set to Achieve $1.1 Billion by 2030 with a 6.6% CAGR - Key Market Trends Unveiled

PR Newswire
5 min read

DUBLIN, Oct. 12, 2023 /PRNewswire/ -- The "Recloser Controls - Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

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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 AG

  • Schneider Electric SE

  • S&C Electric Company

  • GE Grid Solutions

  • Schweitzer Engineering Laboratories, Inc.

  • Hughes Power System

  • Creative Distribution Automation Co., Ltd.

  • Entec Electric & Electronic Co. Ltd.

  • Southern States LLC.

  • Tavrida Electric AG

  • Shinsung 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.

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