The global high frequency line traps market is set to grow with a CAGR of 7.0% during the forecast period.
Market Insights
The global high frequency line traps market is mainly driven by rapid advancements in the power and energy sector. Technological advancements have been responsible for the changes in making the energy transmission easy and uninterrupted. Numerous research studies have been conducted to develop ways to measure the characteristic of frequency-impedance of the line trap of power system. These studies showcases the importance of low and high frequency line traps and thus, are contributing to the growth of this market during the forecast period.
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The high frequency line traps are considered to be reliable tuning system, and highly reliable communication channel. They are of compact size and require minimum maintenance which offers significant benefits to the end user. These features are largely contributing to its increasing adoption, and thus driving the growth of this market. Furthermore, growing demand for reliable and fast data transmission has driven the demand for high frequency line traps. However, factors such as interferences produced, and complex installations are likely to have a negative impact on the market growth during the forecast period.
Based on product type, the high frequency line traps market is segmented into main coil, the tuning device, and surge arrester. The main coil dominated the global high frequency line traps market by holding a largest market share. However, the market for tuning device is projected to be equally significant during the forecast period. Furthermore, the power transmission application led the market with over 60% of the market share as there is growing demand for fast data connections across the globe. Growing developments in telecom industry is also driving the demand for these line traps in telecommunication industry.
Based on geography, North America held the maximum market share of over 40% of the total revenue generated in the global high frequency line traps. Factors such as rapid development in the power and energy industry, growing internet penetration and growing demand for fast and reliable energy and data transmission are the major factors contributing to the growth of this market. However, Asia-Pacific is projected to grow at a significant rate during the forecast period. Increasing demand for energy in remote locations of various developing and under developed regions are the primary factors driving the growth of this market.
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Some of the prominent players operating in the high frequency line traps market include ABB, Siemens, GE, Arteche Group, FdueG srl, Phoenix Electric Corporation, Laxmi Electronics, Trench Group, United Automation, and Hilkar.
Power Transmission Segment Dominated the Application Market
Based on application, the high frequency line traps market was led by power transmission segment with a market share of over 60% in 2018. As these line traps provide fast and reliable signals, they are largely adopted for power transmission purposes. Furthermore, growing operations in the electric power network are also contributing to this high market share. However, growing developments in telecom industry is also driving the demand for these line traps in telecommunication industry.
North America Dominated the Market by Region
In 2018, North America led the global high frequency line traps market by contributing a largest market share of over 40% of the total revenue generated. Development in the power and energy industry, growing demand for fast and reliable energy and data transmission, and growing industrialization are the major factors contributing to the growth of this market. However, Asia-Pacific is projected to grow at a significant rate during the forecast period.
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