The sectionalizer market is likely to grow given an increase in power distribution automation techniques. Hence, increase in global electricity consumption, use of automated distribution techniques, and the rise in the use of power protection equipment to increase reliability and reduce service outages are the main factors that drive the sectionalizers market. In addition, smart grid technology is expected to create an opportunity to use advanced fault protection equipment such as programmable electronic sectionalizer. The demand for this sectionalizer is expected to rise in developed economies to cater to the increase in demand for high-quality power. The highest revenue-generating region is Asia-Pacific. Reasons behind this growth are distribution network upgrade and increase in need of power reliability and distribution automation due to rapid urbanization and industrialization in this region.
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Programmable Resettable Segment Expected to be Fastest-growing Segment in Sectionalizer Market
The advanced features of programmable resettable sectionalizer such as enhanced system reliability and quality of power supplied are expected to drive the demand in the segment. Also, the wide use of programmable resettable sectionalizers in three phase lateral lines would further boost the market, mainly in European and the U.S. markets.
Growing Urbanization and Industrialization in Developing Economies are Major Drivers of Market
Growing urbanization, increase in investment in smart grid projects, and the rise in commercial, residential, and industrial sectors are expected to drive the market for sectionalizers of voltage rating up to 15 kV. The growth can be attributed to increase investments in distribution automation along with smart grid projects in countries such as China, India, South Korea, and Australia. Also, the rise in demand for residential spaces and high growth in the real estate sector in Asian countries is expected to boost the demand for sectionalizers.
Technological Advancement and Digitalization in Europe and North America are Major Factors for Market Growth
With technological advancements in all the sectors, the need for continuous and reliable power supply is of utmost importance. With increase in loads and new upcoming factories, the fluctuation in the supply of electricity is very common. However, sectionalizers help reduce the power shortage and breakage situations, thus saving heavy and important appliances. Hence, the market is expected to expand in these regions.
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COVID-19 Impact Analysis
- The coronavirus’s unfavorable global effects are already evident, and had a big impact on the sectionalizer market in 2020.
- The World Health Organization declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths globally. Exports & imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
- The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy’s already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
- Since the pandemic, the restriction of imports and exports has affected the sectionalizer market to a great extent as consumers’ consumption and demand patterns are changing amidst the pandemic.
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