Global Smart Cable Guard System Market Size By Product(Sensor Injector Unit, Control Unit), By Geographic Scope And Forecast
Report ID: 269324|No. of Pages: 202
Global Smart Cable Guard System Market Size By Product(Sensor Injector Unit, Control Unit), By Geographic Scope And Forecast
Smart Cable Guard System Market Size And Forecast
Smart Cable Guard System Market size was valued at USD 1,406.86 Million in 2021 and is projected to reach USD 4,005.06 Million by 2030, growing at a CAGR of 12.87% from 2022 to 2030.
The rising need for reliable systems to prevent partial discharges and faults increasing and aging electrical network assets will drive market growth. The Global Smart Cable Guard System Market report provide a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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What is Smart Cable Guard System?
The Smart Cable Guard system is a digital monitoring platform for medium-voltage cable networks that is sensor-based. It detects and locates faults and weak spots in (underground) power cables with unprecedented accuracy by combining sensor technology and a machine-learning algorithm with 24/7 support. Furthermore, based on partial discharges, the Smart Cable Guard System not only detects faults that have already occurred but also detects precursor warning signs of a fault developing before it disrupts the supply. Each smart cable guard system consists of two sensor units and two control units. The sensor and control units are attached to both ends (sealing or termination end) of the cable being monitored and may cover multiple cable sections. Sensor Units are high-frequency current transformers that detect and measure high-frequency pulses caused by faults and partial discharges.
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Global Smart Cable Guard System Market Overview
The rising need for reliable systems to prevent partial discharges and faults increasing and aging electrical network assets will drive market growth. Fault detection is critical in the distribution of power via transmission lines. Power cables degrade with time, resulting in grid system faults and blackouts. This causes industrial asset losses and irreversible harm to the operation of energy-intensive production equipment. As a result, there is a desire for a system that can identify and inform operators automatically, allowing them to take preventive action.
The electric power industry is predicted to have the quickest CAGR during the forecast period. This trend might be related to the increased need for dependable electric power supply. The expansion of transmission and distribution infrastructure has resulted in a complex network that is difficult to repair and maintain in the event of a failure. The smart cable guard system detects partial discharges or problems and alerts the operator. This real-time knowledge aids in decreasing outage length, lowering total system running costs. The electric power category is the most significant industry in this market and is expected to drive market growth. Furthermore, rectification concerning voltage levels is the factor that is hindering the market growth.
Global Smart Cable Guard System Market: Segmentation Analysis
The Global Smart Cable Guard System Market is segmented on the basis of Product, Application, and Geography.
Smart Cable Guard System Market by Product
- Sensor Injector Unit
- Control Unit
- Software
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Based on Product, the market is bifurcated into Sensor Injector Unit, Control Unit, and Software. Sensor Injector Unit accounted for the largest market share in 2021 and is projected to grow at the highest CAGR of 12.87% during the forecast period. Control Unit was the second-largest market in 2021 and is projected to grow at a growing CAGR.
Smart Cable Guard System Market by Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
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On the basis of regional analysis, the Global Smart Cable Guard System Market is classified into North America, Europe, Asia Pacific and Rest of the world. North America accounted for the largest market share in 2021, with a market value of USD 449.35 Million and is projected to grow at a CAGR of 12.23% during the forecast period. Europe was the second-largest market in 2021, valued at USD 416.56 Million in 2021; it is projected to grow at the highest CAGR of 13.09%.
Key Players
The “Global Smart Cable Guard System Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are DNV, Alliander, Prysmian, Enexis Group, Essar Electricals, High Voltage, Inc., Surgetek, Baur, HVPD, and Others.
The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
• UK Power Networks (UKPN) engineers have fitted DNV’s monitoring system Smart Cable Guard at two sites, in the UK first. The system is used to detect and fix potential power cuts before they happen.
Alliander
• Shareholders have invested around 600 million euros in Alliander, which would be able to further expand the electricity grid in the coming years.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 208-2030 |
| BASE YEAR | 2021 |
| FORECAST PERIOD | 2022-2030 |
| HISTORICAL PERIOD | 2018-2020 |
| UNIT | Value (USD Million) |
| KEY COMPANIES PROFILED | DNV, Alliander, Prysmian, Enexis Group, Essar Electricals, High Voltage, Inc., Surgetek, Baur, HVPD, and Others.
|
| SEGMENTS COVERED | By Product, By Application, and By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
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• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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Data Collection Matrix
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Industry Analysis Matrix
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