Global digital fault recorder market
Posted: May 25, 2019
Global digital fault recorder market was value US$ 320.90 Mn in 2017 and is expected to reach US$ 420.80Mn by 2026, at a CAGR of 3.45 % during a forecast period.
A digital fault recorder is a device, which is used to monitor, access, and optimize any disturbance that is present on the grid, power plants, and substations. Digital fault recorder provisions the critical information within the substation and records this data in a remote enterprise network location for stable storage and analysis. Digital fault recorder provides the benefits such as secure data collection, meeting requirements of international fault recording standards, and offering a permanent detailed record of all substation activity at a nominal cost.
An upsurge in the need for dependable power supply systems and increasing demand for the cardinal substation are expected to drive digital fault recorder market. The governments of the developing economies are focusing to increase power grid infrastructures is one of the key drivers for the digital fault recorder market. Digital fault recorder devices are providing a helpful platform by increasing awareness about environment protection, various targets associated with energy efficiency.
The transmission segment is expected to dominate the digital fault recorder market. The growth of this segment is likely to be determined by the increase in investments in the power transmission infrastructure across globe.
Based on the station, an automated segment is expected to grow at the high rate CAGR during forecast period. This growth is attributed to its feature such as it enables to remotely monitor, control, and coordinate the transmission and distribution components installed in the substation. An upsurge in demand for retrofitting the conventional substations to upgrade the aging infrastructure is one of the key drivers for the automated segment. The automated digital fault recorder benefits in applications such as remotely monitoring, controlling, and coordinating various transmission and distribution. Need to advancement the aging, existing power infrastructure, the demand to retrofit the traditional digital fault recorder substations will drive the growth of the automated digital fault recorders.
The report provides a detailed overview of the Global Digital Fault Recorder Market including regional analysis information. Geographically, Asia-Pacific is expected to share significant growth in the digital fault recorder market. The growth is attributed to the rising government investment in power grid infrastructure. The Chinese government is expected to invest nearly about the US $ 315 billion to improve power grid infrastructure by 2020. They are also planning to invest around USD 27.5 billion towards the development of a transmission network. Increasing investment in China is likely to drive the market for digital fault recorder.
The report gives the clear representation of current market scenario of Global digital fault recorder market, which includes projected market size in terms of value and volume, pestle analysis, Porter's analysis factors in the market.
This Report Is Submitted By @Maximize Market Research Company
Customization of the report:
Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Lumawant Godage
Organization: MAXIMIZE MARKET RESEARCH PVT. LTD.
Address: Omkar Heights, Sinhagad Road, Manik Baug, Vadgaon Bk,Pune, Maharashtra 411051, India.
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things,