Transparency Market Research in its new report titled, “Smart Fault Detection System for Power Transmission Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the smart fault detection system for power transmission market. The TMR report anticipates that high demand for automation may drive the smart fault detection system for power transmission market during the forecast period i.e, 2018-2026. The smart fault detection for power transmission industry is expanding considerably. Various countries such as the U.S., U.K, Sweden, Japan, Germany and Netherlands around the globe have started the use of smart fault detection systems on their power transmission lines. Certain train transportation transmission lines in Switzerland and Sweden have also been equipped with this system. Critical outage periods for industrial regions have also led to adoption of the smart fault detection system, according to the report. It also helps during natural calamities as it can quickly detect faults and reduce outage period and risks. In time sensitive areas of operation, adoption of smart fault detection system has increased significantly. These systems can be configured to be automatic or to be remotely controlled by service operator. As huge dependence on human efforts is reduced, industries and utilities companies prefer this smart system over conventional fault detection systems, says the report.
The report also discusses the multiple efforts taken in South Korea, China, Malaysia and South Africa to promote the use of smart fault detection system which is expected to enhance growth in these markets. High demand for automation could directly or indirectly fuel the demand for the smart detection system across the globe. As per the recent developments in Australia and New Zealand, the countries have started to apply smart fault detection systems on their national power transmission lines. Even Indian government and power utility companies have started discussing about adoption of this smart system. Oil & gas companies in Middle East have also started prospecting about the potential of these systems in their specific industries. But high installation costs and lack of awareness could confine market growth. Occurrence of regular natural calamities and time sensitive nature of global operations could further boost the adoption of smart fault detection systems. However, a positive growth trajectory is predicted for the smart fault detection system’s application in the power transmission industry.
The TMR report has split the global smart fault detection system for power transmission market based on the application and geography. This system can be applied mainly for substations, switching stations, circuit switchers, manual switches and remote controlled switches. Europe and North America are major markets for smart fault detection system for power transmission. The U.S., Sweden, Switzerland, Germany and Netherlands are the major drivers for the growth in the smart fault detection systems in these regions. Asia Pacific and the Middle East are in the nascent stage but are projected to register higher growth rate in the near future. Australia has fitted this system on various national and regional transmission grids in recent years. Some of the major players in the global smart fault detection system for power transmission market are profiled in this report to give a better competitive analysis and these include ABB Schweiz AG, ETap Inc., G&W Electric, Inc., Metrycom Communication Ltd., Osisoft LLC, Southern States LLC and Trilliant Inc.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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