Market Scenario
The global digital fault recorder market 2020, according to MRFR, is projected to grow at a moderate 4.75% CAGR during the forecast period, as this technology is still in its emerging stage.
Market Highlights
The major drivers of growth on the global digital fault recorder market are an increase in the need for reliable power supply systems and increased digital substation-related demand. As a result, growing demand for digital substations has become the key factor for the global digital fault recorder market to expand. In addition , increased government spending in power grid technology is expected to push the remote fault recorder industry in order to improve the efficiency of power networks. Such investments would help to improve the efficiency of the power grid.
Including growing concern of protecting the environment, Various energy efficiency targets need to be achieved and digital fault recorder devices can be of assistance in the same. This is another aspect fueling the growth of the global demand for automated fault recorders. The demand to retrofit the customary digital fault recorder substations will drive the growth of automated digital fault recorders, due to the need to upgrade the aging, existing power infrastructure. The automated DFRs assists in remotely tracking, managing and organizing various elements of transmission and delivery that are installed at separate substations. So these are some of the main factors that drive this market ‘s growth globally.
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Market Segmentation
The global market for digital fault recorder was segmented based on the deployment, voltage, station, size , and location. The business is divided according to form into dedicated and multifunctional. Because of the increasing adoption of multifunctional digital fault recorder in the electricity network and power generation, multifunctional segment is expected to rise at the fastest pace.
The market is segmented, depending on station, as automatic and non-automated. It is expected that automated digital fault recorder dominates the market, as this segment enables remote tracking, control and synchronization of the transmission and distribution portion mounted in the substation. The global demand for digital fault recorder is further segmented by voltage, including less than 66 kV, 66-220 kV and more than 220 kV. Digital fault recorder segment 66-220 kV is expected to report the highest market share in the forecast period.
Regional Outlook
As these recorders are focused on rising demand for digital substations, the global digital fault recorder market is expected to experience a moderate growth during the forecast period. Asia-Pacific is expected to rise in the forecast period, at the fastest CAGR. This can be due to the rise in government spending to improve power grid infrastructure to optimize power systems reliability. India is a rapidly growing area of the Asia Pacific Digital Fault Recorder (DFR) market, due to the country ‘s increased demand for power grid infrastructure. Increasing demand for renewable energy resources and electricity grids also drives the digital fault recorder (DFR) market in Asia Pacific. As a result, Asia Pacific ‘s demand for digital fault recorder will be increased to cater for rising demand for electricity. Rising electricity demand due to rapid industrialization in this area also contributes to the popularity of the market for digital fault recorder. In addition, the North American and European regions will in future display steady growth in this market. As the second largest region in North America, it also focuses on the urgent need for a secure power supply network.
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Competitive Dashboard
- GE (US)
- Elspec (Israel)
- Qualitrol (US)
- Logiclab (Italy)
- Siemens AG (Germany)
- Ducati Energia (Italy)
- Ametek (US)
- Kocos (Germany)
- E-Max Instruments (US)
- Procom Systems (Ontario).
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