Global Digital Fault Recorder Market to reach USD 539.04 million by 2025.
Global Digital Fault Recorder Market valued approximately USD 344.8 million in 2016 is forecasted to grow with a healthy growth rate of more than 5.09% over the forecast period 2018-2025. The major factors speculated to augment the markets are escalating requirements for digital substations, and rising demands for reliable power supply system. Incompetent data management and cyber security concerns for processor-based devices are some of the major challenges for the global market. High initial capital expenditure is a key restraint to overcome for the major manufacturers.
Global Digital Fault Recorder Market is segmented based on Type, Installation, Voltage, and Station. The Automated subsegment of Station segment is forecasted to grow with highest CAGR while the Transmission subsegment of Installation segment is expected to dominate in terms of market share. 66–220 kV subsegment was dominant in market share size and is expected to remain dominant throughout the forecasted period. Whereas the Multifunctional subsegment held the biggest market share in the market.
The regional analysis of Global Digital Fault Recorder Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world. Whereas, owing to rising no. of research activities in countries such as China, India, and Japan, Asia Pacific region is also expected to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Above 220 kV
- 66–220 kV
- Less than 66 kV
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players GE Company, Benchmarking, Ducati Energia, ABB, Kinkei, Ametek, Siemens, Elspec, ERL phase, Qualitrol, Logiclab, Prosoft Systems, KoCoS Messtechnik AG, and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Target Audience of the Digital Fault Recorder Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers