NEW YORK, Aug. 17, 2018 (GLOBE NEWSWIRE) -- The global smart cable guard system market is expected to witness a CAGR of 31.7% from 2018 to 2024. Aging electrical network assets and additional advantages of this technology over traditional fault detection systems is expected to propel the market growth over the forecast period. Moreover, government support for installation of advanced power infrastructure across the globe is likely to give impetus to the market growth during 2018-2024.
Smart cable guard system comprises of sensor injector units (SIU) and control units (CU) placed at the end of the cable. This system is capable of detecting partial discharges (PDs) or faults with a location accuracy of 1% of the cable length, and notifying the grid operator. The system is used for networks with low or high grounding impedance to effectively minimize power failures and increase the overall efficiency of the distribution system. Smart cable guard technology assists the grid operator to act proactively in case of faults and reduces the operating cost of the distribution system.
Key findings from the report:
- The global smart cable guard system market is likely to experience a CAGR of 31.7% from 2018-2024
- The electric power segment is expected to experience the fastest CAGR over the forecast period
- Europe is expected to register the highest CAGR over the forecast period
- Some of the key companies operating in the market include DNV GL AS; Alliander N.V.; Locamation; Enexis Netbeheer; Essar Electricals; High Voltage, Inc.; Surgetek; BAUR GmbH; Vinçotte; and Telemetrics, among others
Electric Power Industry : High potential market for smart cable guard system
Electric power industry is expected to experience the fastest CAGR during 2018 -2024. This trend can be attributed to the demand for reliable electric power supply. Increasing transmission and distribution infrastructure has resulted in an intricate network which is hard to repair and maintain in case of breakdowns. Smart cable guard system detects partial discharges or faults and sends notification to the operator. This real-time insight assists in reducing outage duration, thereby cutting overall operating cost of the system. Electric power segment is the most prominent industry for this market and is likely to give impetus to the market growth.
Browse full research report with TOC on “Global Smart Cable Guard System Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024” at: https://www.energiasmarketresearch.com/global-smart-cable-guard-system-market-report/
To purchase report: sales@energiasmarketresearch.com
Smart cable guard system market - Regional insight
Geographically, Europe is likely to witness the fastest CAGR during 2018-2024. The growth in the region can be attributed to initiatives taken by the local governments to promote adoption of new technologies in order to save energy and minimize losses during transmission. Moreover, presence of key players in the region such as DNV GL AS, Locamation, and Alliander N.V. is also expected to propel the market growth during the forecast period.
The report segments smart cable guard system market on the basis of components, end use industry, and region.
By Components
- Sensor Injector Unit
- Control Unit
- Software
By End Use Industry
- Healthcare
- Electric Power
- Telecommunication
- Small Industries
- Others
Region
- North America
- Europe
- Asia-Pacific (APAC)
- Middle East and Africa (MEA)
- Central and South America
About Energias Market Research Pvt. Ltd. -
Energias Market Research launched with the objective to provide in-depth market analysis, business research solutions, and consultation that is tailored to our client’s specific needs based on our impeccable research methodology.
With a wide range of expertise from various industrial sectors and more than 50 industries that include energy, chemical and materials, information communication technology, semiconductor industries, healthcare and daily consumer goods, etc. We strive to provide our clients with a one-stop solution for all research and consulting needs.
Our comprehensive industry-specific knowledge enables us in creating high quality global research outputs. This wide-range capability differentiates us from our competitors.
Contact:
Mr. Alan Andrews
Business Development Manager
For any queries email us: info@energiasmarketresearch.com
To purchase report: sales@energiasmarketresearch.com
Call us: +1-716-239-4915
Visit: https://www.energiasmarketresearch.com/