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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Digital Fault Recorder Market Share by Installation
As per the digital fault recorder market forecast, by installation, transmissions are expected to grow at a rapid pace in the coming years, driven by increased investments in power transmission infrastructure worldwide. The transmitters are used to transmit power from the system's source to its substations. Implementing digital fault recorders in the transmission systems can reduce downtime, improve reliability, and help prevent differences in power transmission and end use demand. Digital fault recorders frequently check the current voltage and frequency and record incidents relating to power quality, aiding in finding issues and suggesting fixes. Early warnings of potentially harmful situations are provided by transmission-level DFRs, aiding in the preservation of equipment, which is bolstering the digital fault recorder market value.
Digital Fault Recorder Market Share by Region
Throughout the forecast period, the Asia Pacific is anticipated to be a leading region in the global digital fault recorder market. This is attributed to an increase in spending by governments in the region to upgrade the infrastructure of the power grid in an effort to boost the dependability of electricity systems. Due to the rising demand for power, major countries of the Asia Pacific region, including China, India, and Japan, are making significant investments in the transmission and distribution of electricity. India is one of the key markets for digital fault recorders in the Asia Pacific region because of the country's growing need for power grid infrastructure. The demand for power grid infrastructure and renewable energy sources is also boosting the Asia Pacific digital fault recorder market growth.
Digital Fault Recorder Market Report Snapshots
Digital Fault Recorder Market Size
Digital Fault Recorder Market Share
Digital Fault Recorder Market Analysis
Digital Fault Recorder Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global market for digital fault recorder attained a value of approximately USD 1.13 billion.
The market is projected to grow at a CAGR of 6.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, to reach USD 1.98 billion by 2032.
The major drivers of the market include rising need for digital substations and electric power stations, increasing demand for accurate and reliable devices to detect faults in power systems, and expanding grid networks in developing countries.
Increase in demand for renewable energy, various environmental legislations, advancements in technology for digital fault recorders, and increasing investments in energy projects are the key trends in the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major types of digital fault recorders in the market are dedicated and multifunctional.
The various installations of digital fault recorders in the market are transmission, generation, and distribution.
The primary stations of digital fault recorders in the market are automated and non-automated.
The major players in the digital fault recorder market, according to the report, are GE Grid Solutions, Siemens, AMETEK Power Instruments., Qualitrol Company LLC, ERLPhase Power Technologies Ltd., DUCATI Energia Spa, Elspec Ltd., Kinkei System Corporation, and Mehta Tech, Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124