According to a new market research report by Technavio, the global Buchholz relay market is projected to increase by 5% between 2018 and 2022.
The Buchholz relay market, which includes power and distribution transformers, is expected to experience a growth due to the changing energy landscape and growing utilities need for flexible power systems, reports ESI-Africa.
Utilities are expected to increase investments in Buchholz relays as they increase power generation portfolios and modernise energy distribution and transmission systems to meet growing power demand.
Increasing energy investments in emerging economies including India, Mexico, Africa and the Middle East are expected to positively impact the global Buchholz relay market during the forecast period.
On the other hand, high costs associated with deploying Buchholz relays will have a negative impact on the market.
According to the report, utilities will require huge amounts of investments to ensure their grid infrastructure is compatible with smart grid solutions. The use of Buchholz relays in modern systems is common.