Digital Fault Recorder Market Scenario
Digital fault recorder is a device used to monitor, access, and optimize any disturbance that might happen on the grid, power plants, and substations. Digital fault recorder stores the critical information within the substation and archives this data in a remote enterprise network location for permanent storage and analysis. The main advantages of digital fault recorder include secure data collection, meeting requirements of international fault recording standards, and providing a permanent detailed record of all substation activity at a nominal cost. Transimssion segment is expected to dominate the digital fault recorder market during the forecast period.
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The growing demand for digital fault recorder market is attributed to the growing need for digital substations and need for reliable power supply system. Moreover, increasing investments in power T&D infrastructure globally is also driving the market for digital fault recorder. One of the major restraints of the global digital fault recorder market is high initial investment.
Leading Players
The key players of the global Digital Fault Recorder Market are GE (US), Elspec (Israel), Siemens AG (Germany), Qualitrol (US), Logiclab (Italy), Ducati Energia (Italy), Ametek (US), E-Max Instruments (US), Kocos (Germany), and Procom Systems (Ontario).
Industry Segmentation
The market for digital fault recorder market is segmented based on station as automated and non-automated. Automated digital fault recorder segment dominates the market as these digital fault recorders enable remote monitoring, controlling, and coordinating the transmission and distribution component installed in the substation. Asia-Pacific is expected to hold the largest share for automated digital fault recorder which is mainly driven by an increase in demand for retrofitting the conventional substations in order to upgrade the ageing infrastructure.
Based on type, the market is segmented into dedicated digital fault recorder and multifunctional digital fault recorder. The multifunctional segment is estimated to hold the largest share during the forecast period due to growing adoption of multifunctional digital fault recorder in the electricity network and power generation.
The voltage segment includes less than 66 kV, 66-220 kV, and above 220 kV. The 66-220 kV segment is expected to hold the largest share during the forecast period due to increasing energy demand over long distances in the region. The digital fault recorder with voltage 66-220 kV are used to transmit power over long distances which is likely to drive the market for digital fault recorder.
Asia-Pacific accounts for the largest market share and is the fastest growing region.
Region wise, Asia-Pacific held the largest market share of the global digital fault recorder market in 2017. It is estimated that Asia-Pacific region will continue to dominate the market during the forecast period, due to rising government investment, especially in China where the Chinese government is expected to invest USD 317 billion to improve power grid infrastructure by 2020.
According to IEA World Energy Outlook 2017, China is planning to invest around USD 27.5 billion towards the development of its transmission network. Such investment is likely to drive the market for digital fault recorder. Hence, the demand for digital fault recorder in Asia Pacific will be increased in order to cater the increasing electricity demand. Similarly, North America being the second largest region is also focusing towards immediate need for reliable power supply system, driving the demand for digital fault recorder
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