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According to a new market research report, The global recloser market is expected to reach USD 1.3 billion by 2027 from an estimated USD 1.0 billion in 2022, at a CAGR of 5.4% from 2022 to 2027.

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The residential energy storage market is projected to grow from USD 889 million in 2023 to reach USD 2081 million by 2028; exhibiting a Compound Annual Growth Rate (CAGR) of 18.3%. Major factors driving the growth of the market include declining cost of lithium-ion batteries, supportive regulatory policies encouraging clean energy use, and rising need for energy self-sufficiency. Lack of battery recycling standards could hinder market growth.