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Transmission & Distribution Fault Detection Market size will witness an appreciable gain over 2021-2027, driven by the increasing focus towards minimizing power losses across worldwide geographies. With the ever evolving demand for power, both the government and the private entities are emphasizing reducing power wastage, thus boosting the transmission & fault detection industry trends.
Faults in transmission and distribution lines play a major role in the reliability of power systems as early detection has gained prominence in recent years. It has become instrumental to minimize or avoid cascading outages, thereby boosting industrial processes. Besides, smart fault detection has garnered huge attention to accurately and automatically provide fault location information. These advanced fault detection systems address transmission and distribution fault issues, including automatic fault detection and diagnosis.
Smart fault detection systems can save energy and resources and detect fault robustly and quickly. The prevalence of natural calamities has further signified the importance of transmission & distribution fault detection networks.
In terms of application, transmission & distribution fault detection market value from the substation segment will expand at a strong CAGR through 2027. Substations are sought for control, protection and monitoring, enabling power routing from generators to loads. Some of the factors such as capacitors’ faults, voltage transformers’ faults and busbars’ faults have highlighted the importance of fault detection. Automated fault detection is likely to give impetus to substations to provide better fault analysis.
Based on geography, North America is likely to account for a lion’s share during the forecast period 2021-2027 in the wake of demand from the oil & gas industries. The U.S. has witnessed immense interest and acceptance of cloud-based fault detection in the oil and gas sector. Transmission fault detection lines have gained traction owing to their accurate, robust and efficient approach, driving the growth of North America transmission & distribution fault detection industry share.
The Asia Pacific transmission & distribution fault detection market will record substantial gains through 2027 with the growing need for flame detectors across the region. The need for fault detection in switching stations, manual switches and substations will also augur well for the industry size expansion. Fault detection has also gained an uptick using fuzzy techniques and artificial neural networks (ANNs). Besides, the adoption of dynamic detection using assistant facilities, including substation direct current power supply online loop alarm systems has solidified the position of APAC in the landscape. Novel tools and techniques will also be sought to maintain the security and reliability of the power system along with the stability of transmission lines.
The global transmission & distribution fault detection market will be partially fragmented with players such as G&W Electric, Fuji Electric, Applied Material, Schneider Electric, Sentient Energy, OptaSense, among others. These companies are expected to emphasize strategic alliances, mergers & acquisitions, product launches and R&D activities to gain competitive edge in the industry.
To illustrate, in July 2020, Schneider Electric announced to establish four control centers for Egypt’s national energy grid. They also contemplate installing 12,000 smart ring main units that will help enhance energy availability through fault detection and reconfiguring the network to ensure stability. The company is also contemplating upgrading 1,000 distribution points and substations to connect them to the smart grid.
The potential impacts of the outbreak have become evident for fault detection in transmission and distribution networks during the assessment period 2021-2027. Leading companies have adopted smart fault detection tools to reliably maintain field operations and control centers. Oil and gas companies in the Middle East and Africa have witnessed gradual growth during the pandemic, signifying the demand for fault detection across the region.
Stakeholders are expected to inject funds into automatic fault detection and will gear to expand their penetration in substations amidst the pandemic.