Digital Fault Recorder Market Regional Analysis:
North America Market Insights
North American in digital fault recorder market is anticipated to account for more than 40% revenue share by the end of 2035. The growth of the region is attributed to the investments in power infrastructure, excessive energy resources, high electricity consumption, and the expansion of smart grids. There are many distributed energy resources, for instance, rooftop solar panels, wind generating units, and, e-vehicle batteries which are growing day by day and require a powerful monitoring system.
In the United States, a high percentage of electricity comes from renewable resources and the electricity consumption rate is also high therefore, they constantly put efforts into reducing carbon emissions. As per EIA, electric appliances in an average household in the US consume 52% of electricity.
Due to the growing demand for power supply and the expansion of smart grids, the government in Canada is focused on investing more in grid infrastructures and transmission networks. In Canada, around USD 100 million is expected to be invested for the effective utilization of existing electrical assets and to reduce greenhouse gas emissions.
Asia Pacific Market Insights
Asia Pacific digital fault recorder market is expected to observe over 8.5% growth between 2024 and 2035. The region is experiencing growth due to the investment in power grid infrastructure, demand for renewable resources, and increased awareness of sustainability. The Union Minister of India disclosed that over USD 130 Billion has been administered to the generation, transmission, and distribution sector along with it nearly half of the stated amount is invested in the innovation of the renewable energy sector.
Carbon neutrality is again a crucial factor in helping the market grow in Japan. India and Japan's clean energy partnership aims to achieve sustainable goals such as economic growth and climate change. Moreover, both countries are planning to reach net zero and therefore investing in innovative technologies that will help in reducing carbon emissions, which will help the market grow.
Additionally, this partnership will cover many areas such as wind energy, carbon capture & recycling, etc. Along with India and Japan, South Korea is all set to become carbon neutral by 2050, as per a study South Korea will attain one-third of its power generation from renewable resources.
