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 COVID-19
Analysis of Digital Fault Recorder Market is enduring an exacting
period with its robust growth coming to an abrupt halt in light of the COVID-19
pandemic.
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.
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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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