Global Teleprotection Market 2017-2021
Teleprotection provides a secure and balanced supply of electricity to ensure efficiency and stability of systems. Teleprotection protects systems from damage and failure by disconnecting them from transformers, reactors, or high-voltage lines if a faulty connection is detected. Systems rely on a symmetric telecom network for providing a communication channel between devices. With the help of these channels, the time delay between the teleprotection units is measured, which is further required to make observations to identify faults. Teleprotection systems are adopted by some major end-user industries such as telecommunication and power. Other end-user industries of teleprotection systems that are gaining popularity are transportation, IT, and aerospace and defense.
Technavio’s analysts forecast the global teleprotection market to grow at a CAGR of 19.04% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global teleprotection market for 2017-2021. To calculate the market size, the report considers the demand for teleprotection from various end-users..
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Teleprotection Market 2017-2021
Technavio recognizes the following companies as the key players in the global teleprotection market: ABB, Siemens, Schneider Electric, and GE.
Other Prominent Vendors in the market are: Alcatel-Lucent, Alstom, AltaLink, Cisco, and Valiant Communications.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing demand from the aerospace and defense industry. Aerospace and defense is the nontraditional end-user industry of the teleprotection market. One of the major reasons for this is the growing need to regulate power in these sectors. As the aerospace sector demands for uninterrupted flow of balanced power for monitoring and managing aerospace activities, it is vital to adopt teleprotection systems. In the defense sector, there is high demand for managing power flow to monitor borders and even control rooms. Therefore, high adoption of teleprotection systems is expected to drive the global teleprotection market.”
According to the report, one of the major drivers for this market is growth in demand for power generation. Rise in industrialization and rapid infrastructure development across the world have created a huge demand for electricity. To meet this demand, countries are increasing their installed power capacities. During the forecast period, China and Japan have humungous plans to increase their coal power capacities. Japan is expected to invest heavily in coal power infrastructure during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is unpredictable oil prices. The recent fall in crude oil prices will hinder the growth of the global teleprotection market as the oil and gas industry is one of the end-user industries for teleprotection equipment. Shale gas explorations in the US are on the rise and have reached record levels. The Middle East countries, on the other hand, have not reduced their output as they fear of losing market share. This has caused a continuous fall in oil and gas prices.
ABB, Siemens, Schneider Electric, GE, Alcatel-Lucent, Alstom, AltaLink, Cisco, and Valiant Communications.
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