Distribution
Feeder Protection System Market Analysis
The global distribution feeder protection system
market is anticipated to garner a CAGR of 6.19 % during the forecast period (2019-2024),
Market Research Future (MRFR) reveals in a detailed report. Distribution feeder
protection system can be defined as a device which can be used in an electric
distribution system to safeguard the expensive systems and components from
threats like blackout and lightening. It also safeguards from potential threats
like transmission line tower flash-over, strong wind blowing tree branches into
electric lines, generator failure, and transformer failure. The system comprises
sensors, fuses, and interconnections.
Market
Potential and Pitfalls
The global Distribution
Feeder Protection System Market Analysis is likely to experience a
sturdy growth in the foreseeable future. The increased demand for power, along
with the rising adoption of feeder protection devices for safe T&D are some
of the top factors likely to propel the growth of the market across the globe.
The demand for electricity will continue to propel with time, thereby fueling
the market growth across the globe. For instance, the consumption of
electricity reached 22,015 TWh in 2017. As reported by the International Energy
Agency, World Energy Outlook 2017, according to the new policies, the global
demand for energy is not as high as in the past but has the potential to expand
at a rate of 30% by 2040. With the increased need for energy, the demand for
electricity infrastructure is also increasing. This is further considered to
contribute to the growth of distribution feeder protection system market
globally. There is an increased need to upgrade T&D grids to provide
lucrative business opportunities, which in turn encourages the growth of the
market. Moreover, the growing use of non-conventional and renewable energy sources
is highly influencing the market.
On the contrary, the high price of distribution feeder
protection system, coupled with its high maintenance cost are some of the top roadblocks
to the growth of the market.
Global
Distribution Feeder Protection System Market: Segmental Analysis
The global distribution feeder protection system market
is segmented on the basis of voltage rating and end user.
By voltage rating, the distribution feeder protection
system market is segmented into low voltage and medium voltage. Among these,
the medium voltage rating acquired the largest share and led the market in 2018
due to its rising application in the industrial sector.
By end user, the distribution feeder protection system
market is segmented into manufacturing & processing industries,
transmission & distribution utility, and commercial & residential.
Among these, the transmission & distribution utility segment is likely to
showcase the highest growth rate. T&D utility is highly used in industrial
plants, power plants, and conventional electric utility companies. The unstable
electricity supply, coupled with the constant requirement for electricity among
the developing economies, will assist in the growth of the distribution feeder
protection system in the T&D utility segment.
Regional
Frontiers
Geographically, the distribution feeder protection
system market spans across Europe, Asia Pacific, North America, South America,
and the Middle East & Africa.
Considering the global scenario, the Asia Pacific
region acquires the lion’s share due to the increased investments in transmission
and distribution sector, especially in China, India, and other Southeast Asian
countries. While China will account for the largest share, India will be the
fastest country to expand. For instance, as per the Asian Development Bank, the
region requires USD 1.7 trillion every year as investment in infrastructure, which
includes T&D infrastructure. These factors are considered to foster the
growth of the APAC region in the foreseeable future.
Competitive
Dashboard
The top players operating in the global distribution
feeder protection system market include Siemens Ltd. (Germany), ABB Group
(Switzerland), Crompton Greaves Ltd. (India), General Electric Company (USA),
Basler Electric Company. (USA), Toshiba Corporation (Japan), Schweitzer
Engineering Laboratories, Inc. (USA), Mitsubishi Electric Corporation (Japan),
Schneider Electric SA (France), Littelfuse, Inc. (the USA), Eaton Co. Plc.
(Ireland), and Fanox Electronic, S.L. (Spain).
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