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”, published by MarketsandMarkets™, the
global
digital
fault recorder market is projected to be worth USD 458.2 million by 2023,
growing at a CAGR of 4.76%. The growth of this market is driven by the growing
need for reliable power supply system and growing demand for digital substation.
Browse and in-depth
TOC on "Digital Fault Recorder Market"
55 - Tables
24 - Figures
105 - Pages
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The report segments the digital fault recorder market, by
installation, into generation, transmission and distribution. Transmission is
expected to grow at the highest CAGR during the forecast period. According to
the IEA World Energy Outlook 2016, an investment of USD 1.5 trillion is
expected to occur in global transmission infrastructure, under the 450
scenario, between 2016 and 2040. Such investments are likely to drive the
growth of this segment during the forecast period.
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TOC @
The digital fault recorder market, by voltage, is
segmented into less than 66 kV, 66–220 kV, and above 220 kV. The 66–220 kV
segment is expected to grow at the highest CAGR during the forecast period;
substations in this range are used to transmit power over long distances.
Increasing investments in the transmission infrastructure from emerging
economies such as India, China, Saudi Arabia, and the UAE is expected to
further strengthen the market for digital substations with a voltage range of
66–220 kV.
The digital fault recorder market is segmented, by
station, into automated and nonautomated. 2017Automated segment is expected to
grow at the highest CAGR during the forecast period. According to IEA, the
global investment in electricity network was USD 277.01 billion in 2016, while
the global investment in electricity network was USD 261.73 billion in
2015. The growth in the automation
segment will be mainly driven by the growing investment in the electricity
network.
The digital fault recorder market is segmented, by type,
into dedicated and multifunctional. Multifunctional segment is expected to grow
at the highest CAGR during the forecast period. Growing adoption of
multifunctional DFR in the electricity network and power generation is expected
to be the drive the demand for multifunctional DFR segment.
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Asia Pacific is largest and the fastest-growing of digital fault recorder market. The
market in Asia Pacific is mainly driven by the growing investment in power grid
infrastructure in emerging economies such as India and China. For instance, the
government of China is planning to invest USD 315 billion in improving its
power grid infrastructure between 2015 and 2020. China is expected to hold the
largest market share of the digital fault recorder market by 2023 in Asia
Pacific. Such investments toward the development of power grid infrastructure
are expected to drive the growth of the digital fault recorder market during
the forecast period.
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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
