Key players in the Global Reclosers Market include ABB Ltd., Cooper Industries, and G&W Electric.
(PRWEB) March 02, 2015
The global reclosers market was valued at $790.8 million in 2014. It is expected to reach $957.5 million by 2019, at a CAGR of 3.9% from 2014 to 2019.
Browse through the TOC of Global reclosers market for an analysis of industry trends and segments, with the help of various tables and figures.
The growth of the global reclosers market is attributed to the ability of the reclosers to handle short term faults, thereby ensuring reliability of the equipment. Uninterrupted power supply is an important need for most industries as temporary fluctuation in circuits may result in power failures.
Sudden power failure may result in damage to the equipment that may lead to a financial burden on companies. Thus, reclosers can handle short term faults while restoring the circuit in minimal time. Despite this, higher costs required to install automated reclosers adversely affect the growth of the recloser market. In 2014, North America contributed to about 72.3% of the global reclosers market. Asia-Pacific is expected to be the fastest growing region during the forecast period.
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The report has been analyzed in terms of different phases such as single phase, three phase, and triple-single recloser. The market has been analyzed in terms of major regions in the world, such as North America, Asia-Pacific, and Rest of the World. The report segmentation by control includes electric and hydraulic control.
North America Reclosers
North America (comprising the U.S., Canada, and Mexico) commanded the largest share of approximately 40% of the global recloser market in 2014. The North America recloser market in the U.S. is primarily driven by factors including recloser efficiency, automated operation, and data collection.
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