The ‘Global Digital Fault Recorder Market Share, Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global digital fault recorder market, assessing the market on the basis of its segments like types, installations, stations, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Digital Fault Recorder Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): Nearly USD 1.06 Billion
- Forecast CAGR (2023-2028): 6.50%
- Forecast Market Size (2028): Around USD 1.54 Billion
Digital fault recorders are used to assess and monitor medium, low, and high-voltage networks in power plants and transformer substations. The increasing use of digital fault recorders to optimise grid disturbance, monitor power fluctuations and short circuits, and enable engineers to efficiently monitor power plants and grids is propelling the market growth.
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The digital fault recorder market is being aided by the rising power networks and the increasing requirement for digital electric substations and power plants. Governments globally are introducing stringent environmental regulations and increasingly investing in energy projects, which is boosting the demand for digital fault recorders to prevent breakdowns that can cause environmental damage.
Digital Fault Recorder Industry Definition and Major Segments
Digital fault recorders are smart electronic devices that can monitor, record, and analyse disturbances in electronic power systems. They store data, such as frequency, harmonics, and voltage levels, in digitalised format to facilitate the troubleshooting of local substations. The devices are used as a management or reporting tool to allow engineers to efficiently monitor power plants or grids.
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The market, on the basis of type, is categorised into:
- Dedicated
- Multifunctional
- Based on installation, the market is divided into:
- Transmission
- Generation
- Distribution
By station, the market is bifurcated into:
- Automated
- Non-Automated
The major regional markets of digital fault recorder include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Digital Fault Recorder Market Trends
The Asia Pacific region represents a significant market share due to the surging government spending for upgrading power grid infrastructure and the increasing attempts to enhance the dependability of electricity systems. The increasing demand for power in major economies, including Japan, Singapore, India, and China, among others, is boosting investments in electricity transmission and distribution.
Based on installation, transmissions are likely to account for a considerable share of the digital fault recorder market due to the surging investments in power transmission infrastructure. In transmission systems, digital fault recorders are used to improve reliability, reduce downtime, and lower the demand for end-users and power transmission different.
Key Market Players
The major players in the digital fault recorder market report are
- GE Grid Solutions
- Siemens
- AMETEK Power Instruments.
- Qualitrol Company LLC
- ERLPhase Power Technologies Ltd.
- DUCATI Energia Spa
- Elspec Ltd.
- Kinkei System Corporation
- Mehta Tech, Inc.
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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