Digital Fault Recorder Market size was over USD 2 Billion in 2023 and is set to reach USD 6 Billion by the end of 2036, witnessing around 11% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of digital fault recorders is estimated at USD 2.3 Billion.
The increasing investments in the power infrastructure, government initiatives in energy conservation, and high electricity demand are the growth drivers for the market. According to the Energy Administration, the Ministry of Economic Affairs launched a program in Feb 2023, named the ‘New Energy Saving Campaign Program’ which is estimated to save 5 billion kWh to decrease the demand for electricity from 2017-2020.
Author Credits: Dhruv Bhatia
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