Published Date : Jun 27, 2017
ALBANY, New York, June 27, 2017: MarketResearchReports.biz has added a new research report to its ever-expanding collective database on the manufacturing and construction industries. The report, titled “Global Teleprotection Market 2017-2021,” is more than simply a brief encapsulation of the positive and negative aspects surrounding the market. It is a tool that can be used by an investor or player in the global teleprotection market in order to gain an edge in the competition, by fully understanding the opportunities that lie in wait and avoiding the obstacles present over the coming years.
According to the report, the global teleprotection market is expected to expand at a phenomenal CAGR of 19.04% within a forecast period from 2017 to 2021. This hearty growth rate is primarily attributed to the demand by consumers and/or clients of the power sector, for better means of power generation. The global demand for power is increasing at a breakneck pace and the energy sector is struggling to meet with the entirety of it. While steps are being taken to increase power generation, there are additional efforts being taken in the effective and efficient distribution of power, where the global teleprotection market falls into picture.
However, the global teleprotection market is currently being restrained by factors including the extremely unpredictable nature of the oil and gas industry. The rate of oil and gas production at the moment and the demand for it is putting its related markets off balance, creating a challenging environment for players in the global teleprotection market to successfully satisfy all demands. One of the key trends being followed in the market currently is the gaining focus put forth by players towards the increasing demand from the aerospace and defense industry.
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The report’s regional assessment of the global teleprotection market involves a segmented approach, considering the Americas, Asia Pacific, and the EMEA as the key regions in the market. Each region shows points of uniqueness that need to be understood in order for players to expand their horizons on either local or even international grounds.
The leading players in the global teleprotection market, as mentioned in the report, include ABB, Siemens, Schneider Electric, and GE. The report provides key details on each of the leaders in the market, based on their company profile, business strategies, product portfolios, and regions of operation. Other prominent players described in the report include Alcatel-Lucent, Alstom, AltaLink, Cisco, and Valiant Communications.
Teleprotection devices are quickly becoming an essential component wherever there is a high need to secure and balance the supply of electricity, consequently helping an electrical system to remain stable and more efficient. They are primarily present to safeguard an electrical system from damage due to electrical failure, by disconnecting the system from HV lines, reactors, or transformers whenever a fault is detected in the connection.
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