Distribution Feeder Protective System Market set to garner higher revenue globally
The distribution feeder protective system market 2020 can make decent progress at a rate of 6.19% from 2019 to 2024 (review period), reveals Market Research Future (MRFR). We will provide covid-19 impact analysis with the report. The COVID-19 impact on the market has been carefully studied, following which the report outlines the key developments post the coronavirus disease outbreak.
Key Boosters and Main Barriers
Distribution feeder protection systems have an extensive application range in industrial plants, conventional electric utility companies and power plants. The soaring need for electricity and the fluctuating electricity supply scenario in a number of emerging countries can result in expansion of the distribution feeder protection system market in the following years.
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The escalating deployment of non-conventional and renewable energy sources combined with the worldwide need for upgrading upgrade distribution grids (grounded as well as undergrounded) can give rise to a host of lucrative opportunities within the distribution feeder protection system market over the appraisal period.
On a dim note, the steep price of distribution feeder protection systems can be quite challenging for the players, given the drop in the product demand among end-users. With that said, the consistent growth in the demand for electricity generated using solar energy, and the increased revamping of distribution feeder protection systems can help the market emerge stronger in the years to come.
The distribution feeder protective system industry has been considered for voltage rating as well as end user.
The segments that are based on voltage rating include low voltage along with medium voltage. The medium voltage distribution feeder protection system market noted better growth in 2018, thanks to the rising use of this voltage-range system in the industrial sector.
The end user section consists of manufacturing & processing industries, commercial & residential and transmission & distribution utility. The fastest growth rate can be attained by the transmission & distribution utility segment in the distribution feeder protective system market, during the conjectured period.
Distribution Feeder Protective System Market can be geographically distributed into APAC/Asia Pacific, Europe, MEA/the Middle East & Africa, South America and North America.
At present, the market leader is APAC, on account of the increasing spending on facilitating advancements in the transmission & distribution industry, especially in India and China. China has the potential to emerge as the most profitable market in the region, while India can be the fastest expanding market, given the rising investments in renewable energy sources for electricity generation.
The North American benefits from the rising demand for distribution feeder protection systems in line with the surge in electricity consumption. The government in the region is mostly focused on infrastructure investments along with the use of renewable energy, which can be an important growth enhancer in the regional market.
Leading contenders in the Distribution Feeder Protective System industry are Basler Electric Company. (US), Larsen & Toubro (India), Toshiba Corporation (Japan), Western Power Distribution (UK), NOJA Power (Australia), Crompton Greaves Ltd. (India), Schweitzer Engineering Laboratories, Inc. (US), Mitsubishi Electric Corporation (Japan), Schneider Electric SA (France), ABB (Switzerland), Fanox Electronic S.L. (Spain), Siemens AG (Germany), General Electric (US), Eaton Co. Plc. (Ireland), Littelfuse Inc. (US), to mention a few.
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