Global Fault Current Limiter Market by type (Superconducting fault current limiter and Non-superconducting fault current limiter) –by power rating (Low (Less than 1kV), Medium (1-40 kV) and High (More than 40 kV)) – by end user (Power Stations, Oil & Gas, Automotive, Steel & Aluminum, Paper Mills and Chemicals) -by geography (North America, Europe, Asia Pacific, Middle East & Africa and South America)) – is expected to reach US $ 6.50 Bn by 2027, at a CAGR of 9.26%.
Current shortage of circuit breakers and fuses along with the growing grid interconnections is driving the demand for fault current limiters across the globe. Fault current limiter is a vital protection component in current day’s .Transmission and Distribution networks essential to minimalize the occurrence of fault currents. North America and Europe are capitalizing heavily towards upgrade of prevailing T&D infrastructure. Developing economies like Asia-Pacific along with industrialised ones are shifting towards renewable sources of energy to handle up with the growing energy demand.
Superconducting Fault Current Limiter is expected to dominates the global fault current limiter market
Superconducting fault current limiter is the loosest growing segment. This high growth is accredited to the growing usage of superconductor materials in numerous applications such as generators, transportation, power transmission, electric motors, and medical. Superconducting fault current limiter is further sub segmented into resistive, inductive and others.
Growing preference for high voltage fault current limiter is estimated to grow global fault current limiter market.
Based on the voltage rating, fault current limiter market is classified into (More than 40kV), medium (1-40 kV), and low (Less than 1kV). Medium and low voltage fault current limiters have been extensively accepted in the previous few years, but high voltage fault current limiter is at the developing stage during the forecast year. Additionally, some countries such as the U.S., China, and Germany are interesting to install high voltage current limiters but they are not commercialized at a higher extent.
Europe is expected to lead global fault current limiter market.
Europe fault current limiter market is intensely focused on the smart grid technology with up gradation of its prevailing infrastructure for superior reliability and operative networks. Conservative protection devices have been capturing limited capability to deal with increasing capacity, predominantly at the high voltage networks. The mechanical fissure upsurges the scope of increasing demand for the fault current limiter in Europe. Government of U.K. country is offering significant amount to department of energy and climate change for developing next generation fault current limiter is expected to drive the opportunity in the fault current limiter market
This report comprises a study of marketing and development approaches, along with the product portfolios of leading companies. It includes the profiles of some of the leading manufacturers such as Superconductor Technologies Inc., Rongxin Power Electronic Co. Ltd., Zenergy Power Electric Co., Toshiba Corporation, ABB LTD, Alstom, American Superconductor Corporation, Siemens Ag, Applied Materials, Gridon, Superpower Inc., Nexans, Furukawa Electric Co., Ltd, Northern Powergrid and Wilson transformer
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the global fault current limiter market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global fault current limiter market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global fault current limiter market positioning of competitors.
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