Global Buchholz Relay Market 2018-2022
About Buchholz Relay
Buchholz relay is a device that acts as a protective relay for oil-filled transformers. It monitors the oil flow as well as the gas accumulation and is actuated to prevent any damage to the transformer due to internal faults, ensuring efficient functioning of the transformer.
Technavio’s analysts forecast the global buchholz relay market to grow at a CAGR of 4.70% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global buchholz relay market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Buchholz Relay Market 2018-2022
Technavio recognizes the following companies as the key players in the global buchholz relay market: ABB, Altron, Elektromotoren und Gerätebau Barleben, Maschinenfabrik Reinhausen, PBSI Group, and Teck Global.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emerging nations becoming energy investment hotspots. Significant investments were made in 2017 in the energy sectors of India, Mexico, and several countries in Africa and the Middle East. Various international players increasingly focus on these emerging hotspots, as governments enact reforms to increase the competition in their energy sectors and deploy excess global capital.”
According to the report, one driver in the market is need for flexible power systems and changing energy landscape. The power demand has increased exponentially across the world. The increasing population and the rising global economy are responsible for the augmented demand, and this trend will continue during the forecast period. As per the World Bank, the world population is expected to increase by 1.3 billion during 2016-2035.
Further, the report states that one challenge in the market is financially weak distribution sector. The advances of smart grid systems incur additional costs, which include the cost of replacement of transmission lines, distribution systems, power delivering systems, substation digitization, and digital controls. Also, high initial capital investments are required by power utilities and independent power producers (IPPs).
Elektromotoren und Gerätebau Barleben