Power System Protection Panel Market Scope
Power system protection deals with the protection of electrical power systems by isolating a faulty section of the electrical power system from the rest of the live system as quickly as possible. so that the rest portion can function adequately without causing any severe damage. Its aim is to limit the damage at the fault site and prevents the effects of the fault from spreading into the system. The switch gear must be capable of interrupting both normal currents as well as fault currents. Furthermore, the protection panel has the capability to recognize an abnormal condition in the power system and take suitable steps. However, important of protection panels in power system is necessary to avoid abnormal conditions in electrical circuits.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | CSE W Arthur Fisher. (New Zealand), ABB Ltd (Switzerland), Schneider Electric SE (France), Siemens AG (Germany), Hitachi Energy Ltd. (Switzerland), Fuji Electric Co., Ltd. (Japan), Accu-panels Energy Pvt Ltd (India), CG Power & Industrial Solutions Ltd. (India), Johns Electric Company Pvt. Ltd. (India), Ashida Electronics Pvt. Ltd. (India) and OMICRON electronics GmbH (Austria) |
CAGR | % |
Power Protection System Panel market is a fragmented market due to the presence of numerous competitive players. The players are highly focusing on investing in research and development for innovating products. Also, Surge in Usage of Renewable Sources in power protection system panel will enhance their market presence. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that Europe, APAC Manufacturers will contribute to the maximum growth of Global Power System Protection Panel market throughout the predicted period.
CSE W Arthur Fisher. (New Zealand), ABB Ltd (Switzerland), Schneider Electric SE (France), Siemens AG (Germany), Hitachi Energy Ltd. (Switzerland), Fuji Electric Co., Ltd. (Japan), Accu-panels Energy Pvt Ltd (India), CG Power & Industrial Solutions Ltd. (India), Johns Electric Company Pvt. Ltd. (India), Ashida Electronics Pvt. Ltd. (India) and OMICRON electronics GmbH (Austria) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Power System Protection Panel market by Type and Region with country level break-up.
On the basis of geography, the market of Power System Protection Panel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2021.
Market Leaders and their expansionary development strategies
In November 2021, Schneider Electric Announced The Acquisition Of DC Systems B.V. To Advance Innovations in Electrical Distribution. This strategy aimed to expand company’s presence.
In November 2022, Hitachi Energy and Equinor sign a strategic collaboration to surge energy transition. This strategy aimed to advance more sustainable, flexible and secure energy system.
Central Electricity Authority - Power System Engineering & Technology Development Division and Central Public Works Department - Guidelines for Substation and Power Distribution Systems of Buildings
Influencing Trend:
Surge in Usage of Renewable Sources in Power Transmission Systems
Market Growth Drivers:
Rising Demand for Ultra-High Speed Fault Clearance and Increasing Accessibility of Power System Protection Panel with reliability and stability
Challenges:
Faults Bound to Occur in Electrical Equipment or Apparatus Due to Ageing or Exposure to Adverse Environmental Conditions
Restraints:
High Costs of Protection Panels and Rising Chances of Leakage Current
Opportunities:
Focusing towards Improvising protection dependability and security and New Protection Application Functions based on Developments in Technology Sets
Key Target Audience
Power Protection System Panel Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries