General Electric Company (US) and Siemens AG (Germany) are the Leading Players in the Digital Fault Recorder Market
The global digital fault recorder is projected to be worth USD 458.2 million by 2023, growing at a CAGR of 4.76% during the forecast period. In 2018, the market in Asia Pacific is estimated to be the largest for digital fault recorders, followed by Europe. This trend is expected to continue until 2023. The growth of the digital fault recorder market is driven by growing need for reliable power supply system and growing demand for digital substations.
The digital fault recorder market is dominated by a few major players that have a wide regional presence and are established brand names.,AMETEK.Inc. (US), DUCATI Energia Spa (Italy), ERLPhase Power Technologies Ltd. (Canada), Elspec LTD (Israel), General Electric Company (US), KoCoS Messtechnik AG (UK), Kinkei System Corporation (Japan), LogicLab s.r.l. (Italy), Prosoft-Systems Ltd. (Russia), Qualitrol Company LLC (US), and Siemens AG (Germany) are the leading players in the market.
Contracts, agreements, and product developments are the major strategies adopted by leading market players. Contracts and agreements were the most commonly adopted strategies from January 2015 to April 2018. Product developments were the second-most widely followed strategy during the same period. Two of the leading market players are highlighted in the section below.
GE manufactures products for generation, transmission, distribution, control, and utilization of electricity. It operates through 8 business segments, namely, aviation, power, healthcare, oil & gas, renewable energy, capital, lighting, and transportation. GE offers digital fault recorder through its power segment that accounted for 28.7% of the company’s total net sales in 2017. GE’s Grid solution a joint venture between GE and Alstom helps utilities and industry to manage electricity from the point of generation to the point of consumption, thereby increasing grid reliability and efficiency. Furthermore, it offers high-voltage equipment, power electronics, automation, and protection equipment and software solutions, and serves industries such as generation, transmission, distribution, oil & gas, telecommunication, mining, and water. The company operates across the world. It has 191 manufacturing plants located in 38 states in the US and Puerto Rico, and 348 manufacturing plants in other 43 countries. In November 2017, GE Power signed an agreement worth over USD 400 million with The Iraqi Ministry of Electricity (MoE) to develop 14 electric substations on a turnkey basis and supply critical equipment such as transformers, circuit breakers and other outdoor equipment to rehabilitate existing substations and bring much-needed power to areas facing significant electricity shortages across the country.
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Siemens is a German conglomerate company that provides products and solutions for various industry such as infrastructure, healthcare, and energy sectors. The company operates through 8 business segments, namely, power and gas, healthineers, energy management, digital factory, mobility, Siemens Gamesa renewable energy, process industries and drives, and building technologies. It provides digital fault recorder through its Power Quality and Measurement segment. The company mainly provide SIPROTEC 7KE85 fault recorders which suited for monitoring the entire energy value added chain, from generation to distribution. The company has its presence across all the region and operates through 289 production and manufacturing plants globally. In April 2018, Siemens received an order, worth USD 4.14 million (3.5 million euro) ,from Comisión Ejecutiva Portuaria Autónoma (CEPA) to equip the international airport it operates in El Salvador with electrical systems. The order covers the supply, installation, testing, and commissioning of high-voltage, medium-voltage, and low-voltage technology for the safe and reliable supply of power to the new terminals.
Related Reports:
Digital Fault Recorder Market by Type (Dedicated and Multifunctional), Installation (Generation, Transmission, and Distribution), Station (Nonautomated and Automated), Voltage (Less Than 66 kV, 66–220 kV, and Above 220 kV) - Global Forecast to 2023
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