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The global smart cable protection system market is expected to grow at a CAGR of 31.
7%
from 2018 to 2024.
Aging grid assets and advantages of this technology over traditional fault detection systems are expected to drive the growth of the market during the forecast period
.
In addition, government support for the installation of advanced power infrastructure will further drive the market growth
during the forecast period.
The intelligent cable protection system consists of a sensor injector unit (SIU) and a control unit (CU)
placed at the end of the cable.
The system is capable of detecting partial discharge (PD) or faults, locating with an accuracy of 1% of cable length, and notifying grid operators
.
This system is used in networks with low or high ground impedance to effectively minimize power failures and improve the overall efficiency of
the distribution system.
Smart cable guard technology helps grid operators take proactive action in the event of a failure and reduces the operating costs
of power distribution systems.
In terms of application areas, the power sector is expected to show the highest CAGR during the forecast period
.
This trend can be attributed to the growing
demand for reliable power supply.
The increasing transmission and distribution infrastructure has led to an intricate network that is difficult to repair and maintain in the event of a failure, while intelligent cable protection systems can detect partial discharges or faults and notify operators
.
This real-time insight helps reduce the duration of downtime, which in turn lowers the overall operating costs
of the system.
From the perspective of regional markets, Europe is expected to be the fastest growing region
.
The region's growth can be attributed to initiatives taken by local governments to promote the adoption of new technologies to save energy and reduce losses during transmission
.
In addition, major players in the region such as Det Norske Veritas, Locamation, and Alliander N.
V.
are also expected to drive the market growth
during the forecast period.
The global smart cable protection system market is expected to grow at a CAGR of 31.
7%
from 2018 to 2024.
Aging grid assets and advantages of this technology over traditional fault detection systems are expected to drive the growth of the market during the forecast period
.
In addition, government support for the installation of advanced power infrastructure will further drive the market growth
during the forecast period.
The intelligent cable protection system consists of a sensor injector unit (SIU) and a control unit (CU)
placed at the end of the cable.
The system is capable of detecting partial discharge (PD) or faults, locating with an accuracy of 1% of cable length, and notifying grid operators
.
This system is used in networks with low or high ground impedance to effectively minimize power failures and improve the overall efficiency of
the distribution system.
Smart cable guard technology helps grid operators take proactive action in the event of a failure and reduces the operating costs
of power distribution systems.
In terms of application areas, the power sector is expected to show the highest CAGR during the forecast period
.
This trend can be attributed to the growing
demand for reliable power supply.
The increasing transmission and distribution infrastructure has led to an intricate network that is difficult to repair and maintain in the event of a failure, while intelligent cable protection systems can detect partial discharges or faults and notify operators
.
This real-time insight helps reduce the duration of downtime, which in turn lowers the overall operating costs
of the system.
From the perspective of regional markets, Europe is expected to be the fastest growing region
.
The region's growth can be attributed to initiatives taken by local governments to promote the adoption of new technologies to save energy and reduce losses during transmission
.
In addition, major players in the region such as Det Norske Veritas, Locamation, and Alliander N.
V.
are also expected to drive the market growth
during the forecast period.
