The global smart cable guard system market is expected to witness a CAGR of 31.7% from 2018 to 2024. Aging electrical network assets and additional advantages of this technology over traditional fault detection systems is expected to propel the market growth over the forecast period. Moreover, government support for installation of advanced power infrastructure across the globe is likely to give impetus to the market growth during 2018-2024.
Smart cable guard system comprises of sensor injector units (SIU) and control units (CU) placed at the end of the cable. This system is capable of detecting partial discharges (PDs) or faults with a location accuracy of 1% of the cable length, and notifying the grid operator. The system is used for networks with low or high grounding impedance to effectively minimize power failures and increase the overall efficiency of the distribution system. Smart cable guard technology assists the grid operater to act proactively in case of faults and reduces the operating cost of the distribution system.
Key findings from the report:
The global smart cable guard system market is likely to experience a CAGR of 31.7% from 2018-2024
The electric power segment is expected to experience the fastest CAGR over the forecast period
Europe is expected to register the highest CAGR over the forecast period
Some of the key companies operating in the market include DNV GL AS; Alliander N.V.; Locamation; Enexis Netbeheer; Essar Electricals; High Voltage, Inc.; Surgetek; BAUR GmbH; Vinçotte; and Telemetrics, among others
Electric Power Industry : High potential market for smart cable guard system
Electric power industry is expected to experience the fastest CAGR during 2018 -2024. This trend can be attributed to the demand for reliable electric power supply. Increasing transmission and distribution infrastructure has resulted in an intricate network which is hard to repair and maintain in case of breakdowns. Smart cable guard system detects partial discharges or faults and sends notification to the operator. This real-time insight assists in reducing outage duration, therby cutting overall operating cost of the system. Electric power segment is the most prominent industry for this market and is likely to give impetus to the market growth.
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