Market Size of Digital Fault Recorder Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Digital Fault Recorder Market Analysis
Digital fault recorder has the capability to monitor and evaluate the low, medium and high-voltage networks in transformer sub-stations and power plants. The device is optimized to monitor and record any disturbance that may happen on the power grids. The digital fault recorder market is expected to grow at a CAGR of more than 4.4% over the forecast period (2021 - 2026). Growing demand for digital substations has become the major driver for the growth of the digital fault recorder market. Moreover, continuous investment in the power grid infrastructure in order to maximize the reliability of power infrastructure in various nations across the globe is likely to drive the digital fault recorder market. However, higher costs of installations of digital fault recorder systems is a major factor hindering the growth of digital fault recorder market in recent times.
- Transmission is to dominate in the digital fault recorder market due to the increase in investments in the power transmission infrastructure across the globe.
- Various environmental legislations being laid down by the environmental protection agencies across the globe coupled with investments in energy projects is anticipated to provide larger opportunities for the players operating in the digital fault recorder market.
- Asia-Pacific is expected to witness significant growth in the digital fault market over the forecast period.
