According to
the new market research report “Digital Fault Recorder Market by Type
(Dedicated and Multifunctional), Installation (Generation, Transmission, and
Distribution), Station (Nonautomated and Automated), Voltage (Less Than 66 kV,
66–220 kV, and Above 220 kV) - Global Forecast to 2023"
The digital fault recorder
market is expected to grow from an estimated USD 363.1 million in 2018 to USD
458.2 million by 2023, registering a CAGR of 4.76% during the forecast period.
The growth of this market is primarily driven by growing need for a reliable
power supply system and growing demand for digital substation.
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The
transmission segment is expected to hold the largest share of the digital fault
recorder market
The
transmission segment dominated the digital fault recorder market in 2017. The
growth of this segment is likely to be driven by the increase in investments in
the power transmission infrastructure globally. For instance, according to the
IEA World Energy Outlook 2016, an investment of USD 1.5 trillion is expected to
occur in the global transmission infrastructure, under the 450 scenario,
between 2016 and 2040.
62- Tables
25- Figures
112- Pages
The digital fault recorder
market for the automated segment is expected to be the fastest-growing segment
of the market
The digital fault recorder market for the
automated segment, by station, is expected to grow at the highest CAGR from
2018 to 2023. This segment enables to remotely monitor, control, and coordinate
the transmission and distribution components installed in the substation. The
growth of this automated segment is likely to be driven by an increase in
demand for retrofitting the conventional substations to upgrade the aging
infrastructure.
Asia Pacific: A leading
market for digital fault recorders
In this report, the digital fault recorder
market has been analyzed with respect to 5 regions, namely, North America,
Europe, Asia Pacific, South America, and the Middle East & Africa. Asia
Pacific accounted for the largest share of the global digital fault recorder
market in 2017. Government investments to improve power grid infrastructure for
maximizing the reliability of power system are among the major factors that are
likely to drive this market.
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Some of the top players in the digital
fault recorder market include AMETEK.Inc. (US), DUCATI Energia Spa (Italy),
ERLPhase Power Technologies Ltd. (Canada), Elspec LTD (Israel), General
Electric Company (US), KoCoS Messtechnik AG (UK), Kinkei System Corporation
(Japan), LogicLab s.r.l. (Italy), Prosoft-Systems Ltd. (Russia), Qualitrol
Company LLC (US) and Siemens AG (Germany).
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