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Global Teleprotection Market Growth at CAGR of 19.04%, 2017-2021 - Latest Challenges, Trends & Drivers - Research and MarketsDUBLIN, June 19, 2017 /PRNewswire/ -- Research and Markets has announced the addition of the "Global Teleprotection Market 2017-2021" report to their offering. The global teleprotection market to grow at a CAGR of 19.04% during the period 2017-2021. Teleprotection systems are adopted by some major end-user industries such as telecommunication and power. Other end-user industries of teleprotection systems that are gaining popularity are transportation, IT, and aerospace and defense. The latest trend gaining momentum in the market is increasing demand from the aerospace and defense industry. Aerospace and defense is the nontraditional end-user industry of the teleprotection market. One of the major reasons for this is th growing need to regulate power in these sectors. As the aerospace sector demands for uninterrupted flow of balanced power for monitoring and managing aerospace activities, it is vital to adopt teleprotection systems. In the defense sector, there is high demand for managing power flow to monitor borders and even control rooms. According to the report, one of the major drivers for this market is growth in demand for power generation. Rise in industrialization and rapid infrastructure development across the world have created a huge demand for electricity. To meet this demand, countries are increasing their installed power capacities. Further, the report states that one of the major factors hindering the growth of this market is unpredictable oil prices. The recent fall in crude oil prices will hinder the growth of the global teleprotection market as the oil and gas industry is one of the end-user industries for teleprotection equipment. Shale gas explorations in the US are on the rise and have reached record levels. The Middle East countries, on the other hand, have not reduced their output as they fear of losing market share. This has caused a continuous fall in oil and gas prices. Key vendors
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Key Topics Covered: Part 01: Executive summary Media Contact: Research and Markets |