Recloser Market Worth $1.5 Billion by 2030 - Exclusive Report by MarketsandMa... - 0 views
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Almira Coyne on 26 Mar 24Recloser Market is expected to reach USD 1.5 billion by 2030 from USD 1.1 billion in 2024 at a CAGR of 5.0% during the forecast period according to a new report by MarketsandMarkets™. The Recloser Market is experiencing a surge driven by a confluence of factors. Aging grid infrastructure across the globe necessitates upgrades for improved reliability and to prevent outages. Reclosers offer a cost-effective solution for enhancing protection in specific sections of the power grid. Additionally, the focus on grid modernization aligns perfectly with the capabilities of reclosers. These automated devices provide fault isolation and protection, contributing to a more efficient and reliable grid. Furthermore, the increasing penetration of renewable energy sources like solar and wind requires robust grid integration solutions. Reclosers can effectively manage the inherent variability of renewable generation and ensure overall grid stability. Finally, a growing emphasis on environmental considerations is pushing the market towards sustainable recloser technologies. Solid dielectric reclosers, for instance, are gaining traction due to their eco-friendly nature, shaping the future of the Recloser Market.