Hydraulic Recloser Market Size

Hydraulic Recloser Market size is poised to reach USD 2 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of hydraulic recloser was USD 790 Million. The reason behind the growth is due to the growing production of electricity across the globe. Over the past three decades, there has been a huge increase in the world's energy generation owing to factors such as increasing urbanization, and growth in the world's population and economy. For instance, in 2022, the world's power generation increased by more than 2%.

The growing need for smart grid technologies is believed to fuel the hydraulic recloser market growth. The smart grid relies heavily on hydraulic recloser controllers that provide sophisticated monitoring, and control features, of power distribution systems, and can control and observe the reclosers from a distance.