Distribution Feeder Protection System Market 2019 Business Boosting Strategies, Size, Share, Regional Trends, Demand, Competitive Landscape and Global Forecast 2024
Jul 9, 2019
Distribution Feeder Protection System Market Information Report by Voltage Rating (Medium Voltage and Low Voltage), by End User (Transmission & Distribution Utility, Manufacturing & Processing Industries and Commercial & Residential) and by Region (North America, Asia-Pacific, Europe, Rest of the World) – Global Forecast to 2024
Pune, India - July 9, 2019 /MarketersMedia/ —
Distribution Feeder Protection System Market Synopsis:
The global distribution feeder protection system market is anticipated to garner a CAGR of 6.19 % during the forecast period (2019-2024), Market Research Future (MRFR) reveals in a detailed report.
Distribution feeder protection system can be defined as a device which can be used in an electric distribution system to safeguard the expensive systems and components from threats like blackout and lightening. It also safeguards from potential threats like transmission line tower flash-over, strong wind blowing tree branches into electric lines, generator failure, and transformer failure. The system comprises sensors, fuses, and interconnections.
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Competitive Dashboard:
The top players operating in the global distribution feeder protection system market include Siemens Ltd. (Germany), ABB Group (Switzerland), Crompton Greaves Ltd. (India), General Electric Company (USA), Basler Electric Company. (USA), Toshiba Corporation (Japan), Schweitzer Engineering Laboratories, Inc. (USA), Mitsubishi Electric Corporation (Japan), Schneider Electric SA (France), Littelfuse, Inc. (the USA), Eaton Co. Plc. (Ireland), and Fanox Electronic, S.L. (Spain).
Market Potential and Pitfalls:
The global distribution feeder protection system market is likely to experience a sturdy growth in the foreseeable future. The increased demand for power, along with the rising adoption of feeder protection devices for safe T&D are some of the top factors likely to propel the growth of the market across the globe. The demand for electricity will continue to propel with time, thereby fueling the market growth across the globe. For instance, the consumption of electricity reached 22,015 TWh in 2017. As reported by the International Energy Agency, World Energy Outlook 2017, according to the new policies, the global demand for energy is not as high as in the past but has the potential to expand at a rate of 30% by 2040. With the increased need for energy, the demand for electricity infrastructure is also increasing. This is further considered to contribute to the growth of distribution feeder protection system market globally. There is an increased need to upgrade T&D grids to provide lucrative business opportunities, which in turn encourages the growth of the market. Moreover, the growing use of non-conventional and renewable energy sources is highly influencing the market.
On the contrary, the high price of distribution feeder protection system, coupled with its high maintenance cost are some of the top roadblocks to the growth of the market.
Global Distribution Feeder Protection System Market: Segmental Analysis
The global distribution feeder protection system market is segmented on the basis of voltage rating and end user.
By voltage rating, the distribution feeder protection system market is segmented into low voltage and medium voltage. Among these, the medium voltage rating acquired the largest share and led the market in 2018 due to its rising application in the industrial sector.
By end user, the distribution feeder protection system market is segmented into manufacturing & processing industries, transmission & distribution utility, and commercial & residential. Among these, the transmission & distribution utility segment is likely to showcase the highest growth rate. T&D utility is highly used in industrial plants, power plants, and conventional electric utility companies. The unstable electricity supply, coupled with the constant requirement for electricity among the developing economies, will assist in the growth of the distribution feeder protection system in the T&D utility segment.
Regional Frontiers:
Geographically, the distribution feeder protection system market spans across Europe, Asia Pacific, North America, South America, and the Middle East & Africa.
Considering the global scenario, the Asia Pacific region acquires the lion’s share due to the increased investments in transmission and distribution sector, especially in China, India, and other Southeast Asian countries. While China will account for the largest share, India will be the fastest country to expand. For instance, as per the Asian Development Bank, the region requires USD 1.7 trillion every year as investment in infrastructure, which includes T&D infrastructure. These factors are considered to foster the growth of the APAC region in the foreseeable future.
Industry Updates:
February 2019: G&W Electric has signed an agreement to bundle Survalent software into LaZer II and LaZer III distribution automation solutions. This has resulted in the utilities to restore its power automatically to as many customers as possible during the loss of voltage or fault on a feeder.
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About Market Research Future:
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Source: MarketersMedia
Release ID: 88894083
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