What Will Be the New Normal in the Global Recloser Control Market After the COVID-19 Pandemic?
Overcoming several immediate term challenges posed by the ongoing corona virus pandemic, the global market for Recloser Control is projected to reach US$1.4 billion by 2027.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Recloser Control market. Report segmentation includes Type (Electric, Hydraulic); Phase (Single Phase, Three Phase, Triple Single Phase); Voltage (Upto 15 kV, 16-27 kV, 28-38 kV) ).
7 June 5:20 A.M., California/Marketwire/ - According to the new market research report, overcoming several immediate term challenges posed by the ongoing corona virus pandemic, the global market for Recloser Control is projected to reach US$1.4 billion by 2027. Shuttered factories and commercial establishments come as a short-term blow to utilities and for all players in the energy value chain, including recloser control manufacturers. The market is expected to witness a dip in revenues in the year 2020, as the COVID-19 pandemic brings approximately 25% of the world population under lockdown. The global Recloser Control market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned.
While the blow to business activities, and revenue has and still continues to be great, the coming years will still be tougher as the world now stares at a looming recession. The shutdown has disrupted economic activities in a manner hitherto unimagined and the human cost of the pandemic is continuing to grow and is expected to deal an unprecedented blow to economies worldwide. A part of the electrical component supply chain, recloser controls will also feel the heat as all non-essential replacements and technology upgrades face a setback. Utilized widely in power transmission and distribution, recloser controls are purchased by electric companies and utilities to prevent and reduce outages, and limit damage to electrical lines and equipment including transformers installed all along the substation to residential utility poles. Lesser funds available for upgrading older distribution systems will come as bad news for the market in the short-term.
Key Competitors Covered in the Report
Beckwith Electric Co. Inc.
Entec Electric & Electronic Co. Ltd.
G&W Electric Company
GE Grid Solutions
Schneider Electric SA
Tavrida Electric AG
Geographies Analyzed in the Report
Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 17573. Among this pool, 1757 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 351 unique participations, a total of 158 validated responses were received as part of this report's primary research outreach program.We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
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