"Actionable Insights to Fuel Your Growth"
In today’s world, power demand increasing rapidly underpinned by urbanization and industrialization. The utility industry has to mold themselves according to changing the behavior of consumer and growing power demand. The residential and industrial sectors are expected to dominate the overall power demand across the world. The power grid system should be intelligent to provide stable power, and a digital fault recorder is very crucial in stabilizing fluctuation in power grid. The digital fault recorder (DFR) is an important device in monitoring power grids and ensuring reliability of electrical supply. DFR is used to monitor and record any disturbance that may happen on the grid, such as short circuits, critical load cases, breaking operation of the transformer, and power fluctuation that may occur over in the power grid. In short, DFR is a tool to monitor and analyze the faults in power system. The digital fault recorder is used in number of industries to ensure reliability of electrical supply and improve performance.
The digital fault recorder market is segmented into installation, station, and voltage. Installation is further divided into generation, transmission, and distribution. The transmission segment is likely to gain a substantial market of digital fault recorders due to enormous investment in grid infrastructure. The station is bifurcated into non-automated and automated. Automated type is projected to account large share as it enables remote control and monitoring of power distribution systems.
Key Market Driver -
Key Market Driver – Increasing investment in power transmission and distribution network
Key Market Restraint -
Key Market Restraint – High initial investment
The government and private entities around the world are working rigorously in expanding transmission and distribution networks and building new power grid infrastructure. Similarly, increasing demand for reliable electricity supply and growing installation of energy-efficient devices is likely to drive the demand for digital fault recorders.
A digital fault recorder uses a microprocessor that costs high, which increases the overall cost of the recorder. Also, it requires skilled personnel for monitoring and controlling, which is expected to retard the growth of the digital fault recorder market.
Some of the major companies for digital fault recorders are Ametek, Ducati Energia S.p.A., GE Grid Solution, Elspec ltd., Qualitrol, Siemens, KoCoS Messtechnik Ltd, ABB, ERLPhase Power Technologies Ltd., Prosoft-Systems, and LogicLab S.r.l. among others.
The global digital fault recorder market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is experiencing robust growth in information and communication technology that requires a reliable power supply. In addition, the United States is a hub for information technology as it encompasses some of the renowned companies in the world. Similarly, the government and private entities are massively investing in advanced technology and smart grid to ensure the reliability of electrical supply that will leverage the growth of the digital fault recorder.
To gain extensive insights into the market, Request for Customization
The advancement in technology and expansion of micro and smart grid is projected to offer lucrative growth for digital fault recorders in Europe. Asia Pacific is one of the fastest-growing and emerging economies in the world. The increasing demand for power and government initiative for full electrification is driving the digital fault recorder market in Asia Pacific. The Middle East and Africa are primarily intended towards enhancing grid infrastructure for the reliability of electrical supply. UAE, Qatar, Bahrain, Kuwait, and other gulf countries are persistently eyeing for full electrification project. Simultaneously, growing investment in district cooling and grid infrastructure is expected to boost the fault recorder market.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry