LONDON, July 20, 2015 /PRNewswire/ -- The Asia-Pacific recloser market size was valued at $174.9 million in 2013, to grow at a CAGR of 5.5% from 2014 to 2019. Of all the countries in the Asia-Pacific region, China had the largest market share in 2013 of 36.0%. The pole mounted vacuum breaker manufactured by local players is expected to give tough competition to the global recloser manufacturers in Chinese recloser market.
The Indian recloser market is expected to drive the growth of the Asia-Pacific recloser market. India is one of the bigger markets for power distribution equipment. The country's GDP is expected to grow at a higher rate among all the countries in the Asia-Pacific region in the near future. This is also expected act as an impetus for the power transmission distribution infrastructure needs in India, which is likely to facilitate the growth of the Indian recloser market.
The Asia-Pacific recloser market is segmented on the basis of phases and countries. Most of the countries in the Asia-Pacific region are developing countries, which is why they have a three-phase distribution. The customer outage cost is higher in the case of industrial customers, which predominantly uses three-phase power. This is why the recloser market in Asia-Pacific is mostly used for these three-phase distribution systems.
Asia-Pacific is expected to be the highest growing region in the global reclosers market. The growth of this market is mainly driven by factors such as reliability, no manual interventions to restore power, customer outage cost reduction, automation/data collection, and the growing power distribution network. However, factors such as high procurement cost, availability of cheaper substitutes to recloser, and a lack of investment by the government in grid stability restrain the growth of this market. Moreover, emerging economies such as India and China create growth opportunities for this market.
The Asia-Pacific reclosers market is a competitive market with a number of market players with niche technologies. Currently, the Asia-Pacific reclosers market is estimated to be dominated by top players such as Shingsung, Xuji, and Hubbell Ltd. Along with these, other global players such as Tavrida Electric, Cooper Industries, and S&C Electric Company Inc., are some of the players that have a significant market share in the Asia-Pacific region.
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