Digital Fault Recorder Market Scenario
The
global digital fault recorder market is estimated to expand at 4.75% CAGR
during the forecast period. Digital fault recorder stores the critical
information within the substation and archives this data in a remote enterprise
network location for permanent storage and analysis.
Digital
fault recorder is a recording device used to monitor and access the low,
medium, and high-voltage networks in power plants and transformer substations.
This system uses communications to retrieve fault, disturbance, and sequence of
event records that are captured by protection relays. Digital fault recorder is
an integral component of energy sector which provides monitoring of power grids
and ensure the reliability of electrical supply. Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19
on Digital Fault Recorder Market
is included in the present report.
The
growing demand for digital fault recorder market is attributed to the growing
need for digital substations and need for reliable power supply system.
Moreover, increasing investments in power T&D infrastructure globally is
also driving the market for digital fault recorder. One of the major restraints
of the global digital fault recorder market is high initial investment.
Industry Segmentation
The
market for digital fault recorder market is segmented based on station as
automated and non-automated. Automated digital fault recorder segment dominates
the market as these digital fault recorders enable remote monitoring,
controlling, and coordinating the transmission and distribution component
installed in the substation. Asia-Pacific is expected to hold the largest share
for automated digital fault recorder which is mainly driven by an increase in
demand for retrofitting the conventional substations in order to upgrade the
ageing infrastructure.
Asia-Pacific
accounts for the largest market share and is the fastest growing region.
Region wise, Asia-Pacific held the largest market
share of the global digital fault recorder market in 2017. It is estimated that
Asia-Pacific region will continue to dominate the market during the forecast
period, due to rising government investment, especially in China where the
Chinese government is expected to invest USD 317 billion to improve power grid
infrastructure by 2020.
According to IEA World Energy Outlook 2017, China is
planning to invest around USD 27.5 billion towards the development of its
transmission network. Such investment is likely to drive the market for digital
fault recorder. Hence, the demand for digital fault recorder in Asia Pacific
will be increased in order to cater the increasing electricity demand.
Similarly, North America being the second largest region is also focusing
towards immediate need for reliable power supply system, driving the demand for
digital fault recorder
Leading Players
The key players of the global Digital fault recorder
market are GE (US), Elspec (Israel), Siemens AG (Germany), Qualitrol (US),
Logiclab (Italy), Ducati Energia (Italy), Ametek (US), E-Max Instruments (US),
Kocos (Germany), and Procom Systems (Ontario).
Scope of the Report
This research report
provides insights into various levels of analysis, such as industry analysis
and market share analysis for the leading industry competitors, along with
their profiles. It also helps in studying the target segments by providing
views on the emerging & high-growth segments. The market data comprises the
basic assessment of the competitive scenarios and strategies in the global
digital fault recorders market, including high-growth regions and/or countries,
and political and economic environments. The project report further provides
both – historical market values and pricing & cost analysis
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