"Actionable Insights to Fuel Your Growth"

Fault Current Limiter Market Size, Share & Industry Analysis By Type (Superconducting, Non-Superconducting), By Voltage Range (Low (<1kV), Medium (1-40kV), High (>40kV)), By End-User (Oil & Gas, Utility, Chemicals, Iron and Steel Manufacturing, Automotive, Others) Others and Regional Forecast, 2021-2028

Region : Global | Report ID: FBI102150 | Status : Ongoing

 

KEY MARKET INSIGHTS

The spur in electricity demand across the world has crumbled the utility companies as demand for power is running ahead of supply. Rising system fault current levels as energy demand increases and more distributed generation and clean energy sources such as solar and wind, added to an already overburdened system. A variety of aspects causes fault current in the system like lightning, downed power lines, or crossed power lines. Excessive current flows through the electrical system resulting in failure of the T&D system causing a tripped circuit breaker or blown a fuse. Fault current limiter limits the amount of current flowing through the system enabling continuous and uninterrupted operation of the electrical system. Hence, for preventing short circuits and damages to costly electrical equipment fault current limiter is essential.


Fault current limiter market classified on the basis of type, voltage range, and end-user. Based on type, the market is further divided into superconducting and non-superconducting fault current limiters. Superconducting FCL may exhibit robust growth owing to its ability to impede the fault current swiftly. The rising adoption of SFCL by several industry verticals may drive its growth. Based on the voltage range, the market is segmented into low, medium, and high voltage flow current limiter. High voltage flow current limiter may exhibit strong growth owing to the expansion of the T&D network and investment in the power sector. Several industry verticals use flow current limiters such as oil & gas, utility, automotive, chemicals, iron & steel manufacturing, and others.


Key Market Driver -

Disseminating transmission and distribution network along with auguring demand for electricity

Key Market Restraint -

Volatile prices of raw material


The surge in economies around the world has dramatically increased power demand resulting in high investment in transmission and distribution networks. Simultaneously, permeating clean energy sources such as wind and solar power has added power to an already overloaded electrical system which may fail under the excessive current. Henceforth, several companies and utility operators are enormously investing in safety devices that may inflate the demand for fault current limiters.


Fault current limiter utilizes various raw products such as copper, gold, aluminum, and glass, among others which has volatile prices in the international market, which may retard the growth of the market. Also, the alternative such as circuit breakers and fuses are likely to restrain the market.


Key Players Covered:


The major companies for fault current limiter market are ABB, Schneider Electric, Siemens, Nexans, AMSC, Wilson Transformer Company, Furukawa Electric Co., Ltd., Applied Materials, and GridON, among others.


Regional Analysis:


The global fault current limiter market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is estimated to lead the market owing to the upgradation of aging transmission and distribution networks and investment in the smart grid option. Moreover, the expansion of information and communication technology along with the data center, which requires an uninterrupted power supply, may surge the demand for fault current limiters. Strong green technology policies, boding investment in a smart and microgrid to meet the rising power demand is likely to boost the market in Europe. The presence of top automakers, expansion of manufacturing units, and positive outlook of renewable energy sources is expected to leverage the fault current limiter market.


To gain extensive insights into the market, Request for Customization


Asia Pacific has unbiasedly offering lucrative growth in many sectors due to massive population growth, urbanization, and industrialization. India and China continue to dominate the total energy consumption in the region. Extensive investment in transmission and distribution network and government’s keen interest in providing electricity throughout the region has multiplied fault current limiter growth in APAC. The gulf countries are exponentially investing district cooling in matching the increasing requirement for air conditioning.  Consequently, utility operators are exponentially investing in power generation to match the growing demand for electricity that may underpin the market.


Segmentation


























 ATTRIBUTE


 DETAILS

By Type




  • Superconducting

  • Non-Superconducting



By Voltage Range




  • Low (<1kV)

  • Medium (1-40kV)

  • High (>40kV)



By End-User




  • Oil & Gas

  • Utility

  • Chemicals

  • Iron and Steel Manufacturing

  • Automotive

  • Others



By Geography




  • North America (USA and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)



Key Industry Developments



  • In May 2019, World Bank sanctioned USD 200 million to develop grid infrastructure for supplying electricity to 2.5 million Iraqis. The project known as Electricity Services Reconstruction and Enhancement Project got a nod from a financial institution to underpin the Government of Iraq’s effort to enhance the reliability of electricity supply.

  • In September 2018, Suzlon Energy Australia (SEA), a subsidiary of Suzlon signed a five-year operation and maintenance pact for 252 MW with leading power generation company, AGL Energy Limited.

  • In April 2015, Applied Material secured a contract to supply two transmission class superconducting fault current limiter to Glow Energy Public Company Limited. The installation of FCL will enable the company to increase the generation and supply more power at a higher quality of its customers.


Fault Current Limiter Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2020
  • 2017-2019

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients

Itic
UL
Fujifilm
The Japan Research
Schlumberger

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X