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According to Technavio’s market research report, the global teleprotection market will grow at a CAGR of more than 19% during the forecast period. The growing need for uninterrupted power supply in developing countries will drive the growth prospects for the market until the end of 2021. The irregular unbalanced distribution of electricity causes fluctuations in voltage levels resulting in power outage and system damage. An uninterrupted power supply or accurate distribution of electricity should be maintained to ensure the effective working of systems. This can be done by balancing and controlling the electricity flow by using teleprotection equipment. Teleprotection equipment stabilizes the flow by identifying and isolating the faults in medium, low, and high-voltage grids. Various end user industries such as power, telecom, aerospace and defense, and oil and gas highly rely on teleprotection equipment to obtain a stable and even flow of electricity. This will boost the adoption of teleprotection equipment at these end user industries, which will subsequently propel the growth of the teleprotection market.
The increasing demand for teleprotection equipment from the aerospace and defense industry will be one of the key trends responsible for the growth of the teleprotection market. This sector focuses on monitoring and managing aerospace activities, which requires an uninterrupted supply of balanced power. The rising need to monitor the borders and control rooms will further increase the demand for the regulated supply of power and will in turn, will boost the adoption of teleprotection systems in the aerospace and defense industry.
The teleprotection market is characterized by the presence of a large number of vendors. These vendors increasingly cater to the needs of various end-user industries such as telecommunication, power, IT, and aerospace and defense to overcome fluctuations in power supply. Vendors are also developing teleprotection systems with better efficiency by modifying the existing teleprotection systems. With the increasing number of new players, the level of competition among the players in this market space will intensify in the coming years.
Other prominent vendors in the market include Alcatel-Lucent, Alstom, AltaLink, Cisco, and Valiant Communications.
The teleprotection unit includes several products such as optical interface equipment, directional electrical interface equipment, data terminal equipment, and multiservice access equipment. During 2016, this segment dominated the teleprotection market due to the growing need to prevent power system damage in different end user industries. The rising need to provide high safety and advanced measures to avoid power failure will drive the adoption of teleprotection units during the forecast period.
The Americas is witnessing a high demand for teleprotection systems from various end-user industries such as power and telecommunication sectors. The efficiency of T&D in the power sector is reduced due to the aging of grid infrastructure and the need to deliver power over long distances. This will encourage manufacturers to increase investments towards the improvement of T&D infrastructure by using teleprotection systems, driving market growth. Additionally, the emergence of 4G technology in the telecommunication sector that will fuel the demand for high-voltage power supply, will also propel the growth of the teleprotection market.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
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