Global Buchholz Relay Market – Need for Flexible Power Systems and Changing Energy Landscape Drives Growth | Technavio

LONDON–(BUSINESS WIRE)–#Components–The global
buchholz relay market is expected to grow at a CAGR of close to 5%
during the period 2018-2022, according to a new market research study by Technavio.

The report presents a comprehensive research of the global
buchholz relay market by application, including power
transformers and distribution transformers. The report also determines
the geographic breakdown of the market in terms of detailed analysis and
impact, which includes key geographies such as APAC, the Americas, and
EMEA.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

Save more with Technavio. Buy 2 reports and get the
third for FREE: View
all Technavio’s current offers

Market driver: need for flexible power systems and changing energy
landscape

The power demand across the world has grown exponentially. The main
factors driving this demand is the increasing population, and the rising
global economy and this trend is expected to continue during the
forecast period. During 2016-2035, the world population is expected to
increase by 1.3 billion. Currently, energy security is one of the key
national agendas for any country.

According to a senior analyst at Technavio for tools
and components research, “The global generation of
electricity from fossil fuels is projected to reach 61% by 2020.
However, this depends on the actions and execution of protocols
regarding the creation of an environmentally sustainable system. The
increasing population and rising developmental activities would require
considerable amounts of power to sustain the pace of such economic
growth.”

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Market trend: emerging nations becoming energy investment hotspots

In countries such as India, Mexico, and several countries in Africa and
the Middle East, considerable investments were made in the energy
sectors in 2017. Various international players are focusing more and
more on these emerging economies, as governments introduce reforms to
increase the competition in their energy sectors and deploy excess
global capital. The potential opportunities in the market for these
power utility investors were created due to these reforms and are
expected to impact the global
buchholz relay market.

Market challenge: financially weak distribution sector

Additional cost is incurred in smart grid systems, which include the
cost of replacement of transmission lines, distribution systems, power
delivering systems, substation digitization, and digital controls. High
initial capital investments are required by power utilities and
independent power producers (IPPs). In countries such as the US, the
deployment cost of smart grid technology is expected to increase over
the next 20 years. Aging power infrastructure and rising need for
renewable power grid integration are the main factors behind this
increase. Additionally, upgrading power grids to accomplish
compatibility with smart grid solutions proves to be cost-sensitive for
power utilities.

Is your business on track for a successful future? Learn
how Technavio can help

Technavio helps businesses anticipate changes in their marketplace,
make proactive adjustments, and develop effective strategies to optimize
their market positions.

Technavio’s best deal of the month! Get 20%
off on all Media
and Entertainment Services reports. Offer
valid only till the 31st
of March.

About Technavio

Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 844 364 1100
UK: +44 203 893 3200
www.technavio.com