Worldwide Recloser Industry to 2024 - Increasing Demand from the Renewable Energy is Driving Growth

Latest report "Recloser Market by Control ((Recloser (Electronic, Hydraulic) and Sectionalizer (Resettable Electronic, Programmable Resettable)), Phase (Recloser (Three, Single, Triple Single) and Sectionalizer (Three, Single), Voltage Region - Global Forecast to 2025", is projected to reach USD 2.4 billion by 2025 from an estimated market size of USD 1.9 billion in 2020, at a CAGR of 4.8% during the forecast period. The global recloser market is set to witness significant growth owing to increasing power demand and expansion of transmission and distribution network globally. Additionally, increasing the share of renewable energy would also drive the grid integration projects and finally recloser and sectionalizer market.

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The electronic recloser control segment is expected to be the fastest market during the forecast period

The electronic recloser control segment is projected to be the fastest recloser market, by control type, during the forecast period. The electronic recloser control segment accounts for greater share of the total recloser market due to greater flexibility, ease of customization & programing, and have advanced protection, metering, and automation functionality. The growth in electronic recloser control market can be attributed to its low cost and wide area of its applications. Demand for electronic recloser control is on the rise in China, which is the major country in electric utility industry in terms of grid modernization projects. According to the Renewable Energy Policy Network (REN21), China accounted for 45% of the total global investment for renewable power generation in 2018. Increasing investments in renewable power would drive the market for distribution automation in Asia Pacific which would further drive the market for electronic recloser.

The Up to 15 KV segment is expected to be the fastest recloser market (including sectionalizer), by voltage, during the forecast period

The Up to 15 KV segment is expected to grow at the fastest rate during the forecast period. The up to 15 KV segment is expected to grow at the fastest CAGR due to the increase in residential power distribution capacity to cater the increasing demand for electricity in residential areas. Also, increasing investments in grid transmission and distribution projects in rural areas would also fuel the growth of the segment in the forecast period.

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North America is expected to be the second-largest recloser market (including sectionalizer) during the forecast period

In this report, the recloser market (including sectionalizer) has been analyzed with respect to five regions, namely, Asia Pacific, North America, Europe, South America, and the Middle East & Africa.

North America is expected to be the second-largest recloser market (including sectionalizer) during the forecast period. The aging electric infrastructure of North America is creating the demand for grid reliability and smarter power networks. According to article published by energy.gov, US and Canadian electric distribution capital expenditures will exceed USD 40 billion by 2020. These investments include rebuilding existing systems, installing of new infrastructure to meet expanding residential demand, and deploying automation technologies. These investments by North American distribution utilities in distribution automation systems and smart grid projects would drive the recloser and sectionalizer market which are used to protect the overhead distribution feeder from various faults and overcurrent.

The growth of the recloser and sectionalizer market in the Asia Pacific can be attributed to the increasing demand for electrical energy due to urbanization and industrialization, distribution network upgrade, and increasing need of power reliability. Also, rising investments in smart grid infrastructure projects that includes distribution automation would result in an increased demand for recloser and sectionalizer in the Asia-Pacific region. Additionally, the rise in investments in smart grid technologies that include distribution grid automation, smart meters, and demand response systems in countries such as China, India, South Korea, and Australia would create growth opportunities for the recloser and sectionalizer market in the region.

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Key Market Players:

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the recloser market. These include Noja Power (Australia), ABB (Switzerland), Eaton (Ireland), Schneider Electric (France), and Siemens (Germany). The leading players are trying to establish themselves in the markets of developed countries and are adopting various strategies to increase their respective market shares.

Key Questions Addressed by the Report

• Which revolutionary technology trends are expected over the next 5 years?
• Which elements of the recloser market (including sectionalizer) are expected to lead by 2024?
• Which type of recloser and sectionalizer is likely to get the maximum opportunity to grow during the forecast period?
• Which region is expected to lead with the highest market share by 2024?
• How are companies implementing organic and inorganic strategies to gain an increase in the market share?

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Small Modular Reactor Market size to Grow $11.3 billion by 2026 - Is Booming Worldwide

According to the new market research report "Small Modular Reactor Market by Reactor (HWR, LWR, HTR, FNR, MSR), Deployment (Single, Multi), Connectivity (Grid, Off-grid), Location (Land, Marine), Application (Power Generation, Desalination, Process Heat), and Region - Global Forecast to 2026" The small modular reactor market is projected to reach USD 11.3 billion by 2026. The small modular reactor market size will grow to USD 11.3 billion by 2026 (forecasted year) from USD 9.7 billion in 2021 (estimated year), at a CAGR of 3.2% during the forecast period. The small modular reactor market has promising growth potential due to the low cost of SMRs due to modularization and factory construction. The global small modular reactor market is driven by the growing need for clean, reliable and flexible power generation and helps in integration with variable renewable energy.

Browse 135 market data Tables and 43 Figures spread through 213 Pages and in-depth TOC on "Small Modular Reactor Market - Global Forecast to 2026"

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The light-water reactor segment is expected to dominate the small modular market, by reactor type, during the forecast period.

Thelight-water reactorsuse ordinary water as a coolant and are the most widely adopted type, as these have the lowest technological risks. Light-water reactor is the most commonly adopted SMR technology owing to the high degree of technological readiness and ease of licensing, as regulators and developers are familiar with this technology. These factors are expected to drive the market for this segment during the forecast period.

The multi-module power plant segment is expected to be the fastest growing small modular reactor market, by deployment, during the forecast period. 

The multi-module power plant segment, by deployment, of small modular reactor market is estimated to grow at the fastest rate during the forecast period. The growth of this segment is driven by the ease of financing additional units of SMRs, leading to the economies of series production. Additional modules can be added to the SMR plant, which helps in reducing upfront investments and capital risks, resulting in lower financial costs. In addition, multi-module power plants help avoid long outage periods through unit-by-unit maintenance and allow for staggered refueling.

Asia Pacific likely to emerge as the largest small modular reactor market

In this report, the small modular reactor market has been analyzed for four regions, namely, Americas, Europe, Asia Pacific, and Middle East & Africa. The growth of the Asia Pacific market is driven by the increasing investments for the deployment of SMRs in countries such as China and Japan. For instance, in China, various SMRs designs, such as the CAP200, the ACP100, the ACPR50S, and the HTR-PM, are being developed for land and marine deployment. Furthermore, the rise in opportunities for deployment of SMRs in areas with isolated and small scale grid systems such as coastal, island, and offshore areas are expected to fuel growth of small modular reactor market in this region.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the small modular reactor market.

Some of the key players are General Electric-Hitachi Nuclear Energy (US), Moltex Energy (Canada), NuScale Power (US), Terrestrial Energy (Canada) and Westinghouse Electric (US). The leading players are adopting various strategies to increase their share in the small modular reactor market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Solid Oxide Fuel Cell Market to Be Driven by Increasing Demand From End Use Industry in the Forecast Period of 2020-2025

The global solid oxide fuel cell market size is projected to reach USD 2,881 million by 2025, at a CAGR of 30.1%, from an estimated USD 772 million in 2020. Government subsidies and increased R&D on fuel cell programs; fuel flexibility and increasing demand for energy-efficient power generation and stringent emission norms in Europe & North America leading to demand for clean energy source are key factors likely to drive the solid oxide fuel cell market during the forecast period. 

North America is estimated to be the largest solid oxide fuel cell market in 2019. The region has been segmented, by country, into US and Canada. US is the largest and fastest growing market in the region. The growth in this country can be attributed to the high demand for fuel cell power generation, as well as increasing research and development for hydrogen generation. In addition, government policies and subsidies, including the Department of Energy’s (DoE’s) Solid State Energy Conversion Alliance (SECA) Program, are the prime driving factors for growth in the US market.

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The market is segmented, by type, into planar, and tubular. The planar segment held the largest solid oxide fuel cell market share in 2019. The market for planar segment is driven by the simple geometry and relatively easier construction process. Planar type of solid oxide fuel cells is typically designed in such a way that the ceramic fuel cell modules are arranged one above the other in a sandwich-type design with the electrolyte inserted between the electrodes. As its construction is relatively simple, it is the most commonly used solid oxide fuel cell type.

The market is segmented, by application, into portable, stationary and transport. In terms of value, the stationary held the largest share in 2019 as it is driven by the increasing focus on hydrogen-powered fuel cells for back-up power.

The solid oxide fuel cell market is segmented, by end user, into power generation, automotive, hydrogen generation and others. The power generation segment is expected to be the largest market during the forecast period. Increased demand for clean energy generation is expected to drive the market.

The solid oxide fuel cell market is served by a mix of large international players with their presence and capabilities across different regions as well as local players that have a strong foothold in the domestic markets. The key players operating in the market include Bloom Energy (US), Ceres Power (UK), Mitsubishi Power (Japan), Aisin Seiki Co (Japan), and Hitachi Zosen (Japan), Sunfire (Germany), Convion (Finland) and others.

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The major strategies adopted by the players in the solid oxide fuel cell market include contracts & agreements, investments & expansion, mergers & acquisitions, new product launches, and partnerships (including joint ventures, strategic alliances, and collaborations). Contracts & agreements was the most commonly adopted strategy from 2017 to 2020. Partnerships & collaborations have also emerged as a key strategy, as companies look to strengthen their service offerings and geographic market reach by offering their product.

Bloom Energy (US) is one of the major manufacturers of solid oxide fuel cell systems. The company develops, manufactures, and sells solid oxide fuel cells under the name Energy Servers. It caters to the commercial and industrial sectors for distributed power generation. Bloom Energy operates under 4 business segments, namely Product, Installation, Service, and Electricity. In August 2019, Bloom Energy launched Always ON. The product acts as a microgrid providing consumers with energy resiliency for facing power outages at a predictable cost.

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Aisin Seiki (Japan) is a major player in manufacturing and selling fuel cells. The company focuses on meeting sustainable development goals in all its business segments by promoting the transition to clean energy, sustainable procurement, and sustainable industrialization by technological innovation. It operates under 5 segments, namely Powertrain, Chassis & Vehicle Safety System, Body Product, ICT & Electronics, and Energy & Lifestyle. Aisin Seiki caters to the energy & power, automotive, and communications industries. The company provides fuel cell cogeneration systems under its Energy & Lifestyle business segment. In April 2020, Aisin Seki and its subsidiary Konan Kogyo established a hydrogen station to promote the transformation from petroleum-based energy to clean energy. Under this partnership, Toyota Group and Aisin Seiki plan to use fuel cell-electrified buses for transportation.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com