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.
The growing demand for Digital Fault Recorder Substation 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).
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