Synchrophasors Market to Perceive Substantial Growth During 2020
Integration
of synchrophasor measurement in multi-function recorders and
protective relays and increasing investments in modernization of the
power grid is expected to boost the global demand for synchrophasors
market. Synchrophasor is a device which measures values such as
voltage and power from phasor measurement units (PMUs). The
measurements are taken at high speed and time-stamped as per the
common time reference. It allows synchrophasors from different
utilities to be synchronized. This provides a detailed operational
overview of the entire interconnection. It helps the grid operators
to detect disturbances across the grid.
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The
measurements obtained by the synchrophasors are used for fault
analysis, state estimation, stability monitoring, power system
control, operational monitoring, and improve grid visualization. The
integration of synchrophasor devices is one of the key factors in
updating high voltage substations into centers of real-time
information. The increasing demand for substation automation on
account of the rise in adoption of smart grid technologies is
anticipated to augment the global demand for synchrophasors. The
synchrophasor along with communication networks and distribution
feeder automation are an integral part of substation automation. This
allows faster real-time information and with more reliability.
The
global market for synchrophasors can be fragmented on the basis of
application and geography. On the basis of applications, the global
market for synchrophasors can be segmented as wide-area situational
awareness, voltage monitoring and trending, state estimation,
resource integration, power oscillation monitoring, and outage
restoration. The market on the basis of application of synchrophasors
is also segmented as operations planning, frequency stability
monitoring, alarming and setting system operating limits, event
detection, dynamic line ratings and congestion management.
The
primary demand for the synchrophasors is driven by their ability to
determine the phase relationship between phase quantities at any
location of the power system. Additionally, the escalating power
demand and application of synchrophasors in smart grids is expected
to boost the demand for this market.
The
requirement of high initial investment and a lack of clear roadmap of
technology deployment can hamper the growth of synchrophasors market.
The Asia Pacific region is expected to be an opportunity area for
synchrophasors on account of increasing smart grid activity. China is
expected to contribute the most to the growth of synchrophasors
market. Under synchrophasor initiatives in India, the pilot projects
are deployed across the country. The pilot projects shall allow
identifying the challenges that may result prior to the deployment of
phasor measurement units in the country. North America is expected to
drive the demand for synchrophasors worldwide in the foreseeable
future. The demand in this region is driven by the lucrative policies
and investment in research and development of new synchrophasor data
analysis tools, and grants by the government under the North American
SynchroPhasor Initiative (NASPI). Europe is expected to register
moderate growth in the foreseeable future. The demand in this region
is driven by the need to transmission networks both in terms of
capacity and stability. The deployment of synchrophasors is likely to
increase the observability of the power system and gain an awareness
of the stability situation throughout the whole power network.
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Some
of the key players in the synchrophasors market include XJ Electric
Co. Ltd, Wasion Group Holdings Limited, Toshiba Corporation, Siemens
AG, Schweitzer Engineering Laboratories, Schneider Electric, General
Electric Company, Arbiter Systems, Alstom, and ABB among others.
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