Hydraulic Recloser Market Share

APAC Market Forecast

The hydraulic recloser market in the Asia Pacific is predicted to account for the largest share of 42% by 2037 impelled by the growing industrial activities. The manufacturing industry in India plays a significant role in the economic expansion of the nation and is one of the key factors influencing India's GDP (gross domestic product). For instance, in November 2023, India's industrial production grew by more than 2% compared to the same month the previous year.

In addition, China has expanded both localized and cross-regional infrastructure to a substantial degree during the past 30 years, making it the largest infrastructure market in the world, with a five-year strategy in place, the nation intends to keep spending heavily on transportation infrastructure. All these factors are expected to drive the market growth in the region.

North American Market Statistics

The North America hydraulic recloser market is estimated to be the second largest, during the forecast timeframe led by the frequent blackouts. In the US, the frequency of blackouts is rising a result of which The U.S. Department of Energy (DOE) is working to develop the contemporary grid of the future which can deliver a massive boost to the U.S. economy, especially in rural areas. For instance, by 2030, the United States may need to invest over USD 1 trillion in grid upgrading.