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Pulished Date April, 2021
ID: 10185
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Fault Current Limiter Market Segmentation By type (Superconducting and Non-superconducting), by voltage range (High, Medium, and Low), by end use (Power Stations, Oil & Gas, Automotive, Steel & Aluminum, and Paper Mills & Chemicals), and Region - Industry Forecast to 2026

Pulished: April, 2021
ID: 10185
Pages: 175

Fault Current Limiter Market size and growth analysis:

The global fault current limiters market is predicted to grow from around USD 3.6 billion in 2021to USD 5.8 billion in 2026, with a compound annual rate of 9.5%.

The increase in interconnections in the network and the growing need for an efficient and reliable power supply are driving the current fault current limiters business around the world. A fault current is produced in the power supply system due to the short circuit where the current bypasses the normal load. It is employed in power systems to control wasted energy. The fault current limiter is a protective component in modern T&D networks, which reduces the risk of fault currents and helps to function properly. The fault current limiter limits the amount of current that flows through the systems, allows continuous operation of the system while minimizing risk and improving consumer safety.

The human body is a good conductor of electricity; Once high current flows through the body, it can burn tissue and even stop the heartbeat. Therefore, the fault current limiter is the best solution to avoid such a risk that it limits the transmission of energy through the power systems and ensures the safety of the customers. Fault current is any abnormal current in a power supply system. An electrical failure can occur due to a short circuit, where the current bypasses the normal load. Fault Current Limiters (FCLs) are devices employed in power systems that are employed to control wasted power.

Fault Current Limiter Market

Fault Current Limiter Market Recent Developments In Industry:

  • A new approach to limiting fault current with a series-parallel resonance strategy. The increase in call-driven electricity generation, the expansion of distributed generation systems that connect to the grid in parallel, and the expansion of the grid are leading to escalated levels of fault current in the systems of energy.
  • ABB launches FC - protective fault current limiter to protect against high fault currents. ABB has introduced its new FC-Protector fault current limiter which complements the existing range of fault current limiters.

Fault Current Limiter Market Drivers

Growing concern among consumers for an efficient and reliable power supply is predicted to fuel the market for fault current limiters. The government is taking initiatives to modernize the T&D system, as the fuses employed and insufficient circuit breakers in the system are fueling the market. Consumers' inclination towards renewable energy applications, coupled with a high call for modernized smart grid infrastructure, can lead to market expansion. Escalating concerns about power supply reliability and efficiency among customers are predicted to drive the market for fault current limiters. The current shortage of fuses and circuit breakers with escalating interconnections to the grid is predicted to drive the market for fault current limiters. The rising call for modernized smart grid infrastructure, coupled with an escalating preference for renewable energy applications, is predicted to provide many expansion opportunities for the Fault Current Limiters market. Favorable initiatives by governments to modernize and expand the current transmission and distribution system coupled with escalating call for power plants are greatly supporting the expansion of the global fault current limiters market.

Restraints:

Lack of standards for fault current limiters, high cost, marketability, and safety concerns regarding high-temperature, high-temperature superconducting fault current limiters in electrical systems can hamper development to some extent.

Opportunities in the Fault Current Limiter Market:

The main factors driving the expansion of the worldwide fault current limiters market include the growing concern for energy efficiency. In addition, the call for modernized smart grid infrastructure to create opportunities for the worldwide fault current limiter industry. The escalating call for modernized smart grid infrastructure and the universal preference for renewable energy applications will provide many expansion opportunities for the market worldwide.

Challenges:

Safety concerns and the huge scale of the high temperature superconducting fault current limiter in power systems, along with the high price, are the significant challenges in the industry.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 – 2025

Base Year

2020

Forecast Period

2021- 2026

CAGR

6.5%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

 

Market Leaders Profiled

Superconductor Technologies Inc., ABB Ltd., Applied Materials, Alstom, and Zenergy Power Electric Co. Other influencing players include Siemens AG, American Superconductor Corporation, Rongxin Power Electronic Co. Ltd., Superpower Inc., and Gridon

Fault Current Limiter Market

Fault Current Limiter Market Segmentation:

By type:

  • Superconducting

  • Non-superconducting

The superconducting segment is predicted to have a larger share due to its various advantages, including reduced replacement cost by connecting superconducting fault current limiters and widely employed due to its compact size.

By voltage range:

  • High

  • Medium

  • Low

The high-voltage segment is predicted to grow with the highest CAGR during the foreseen period, as fault current limiters are in the emerging stage with installation in countries such as the United States, China, and Germany.

By end use:

  • Power Stations

  • Oil & Gas

  • Automotive

  • Steel & Aluminium

  • Paper Mills & Chemicals

The power stations segment is predicted to have the largest share of the worldwide fault current limiter market, as the superconducting fault current limiter contributes significantly to escalating the safety, reliability and availability of power stations in energy plants.

Fault Current Limiter Regional Analysis:

  • North America 
  • Europe
  • Asia Pacific 
  • Latin America 
  • Middle East & Africa

The market for fault current limiters is dominated by the North American area and it offers prototypes for verification and testing by distributors, which is predicted to drive market expansion. The fault current limiter provides unique safety features to power sources, escalating the market in Europe and North America. Rapid industrialization encouraged the rise of trading power in the Asia-Pacific region. The main concerns of electricity providers to provide safe power transmission to customers are predicted to drive the expansion of the fault current limiters market.

Europe and North America are investing heavily in upgrading the existing transmission and distribution (T&D) infrastructure, positively impacting the region's fault current limiter market. North America is predicted to experience significant expansion in the market due to escalated smart grid initiatives, renewable projects, energy efficiency measures, and the constant upgrade of T&D Infrastructure. The European market for fault current limiters has a strong focus on smart grid technology with updating its existing infrastructure for better reliability and efficient networks.

Fault Current Limiter Market Key Players:

Major market players in the global fault current limiter market include

  1. Superconductor Technologies Inc.,
  2. ABB Ltd.,
  3. Applied Materials,
  4. Alstom
  5. Zenergy Power Electric Co.

Other influencing players include Siemens AG, American Superconductor Corporation, Rongxin Power Electronic Co. Ltd., Superpower Inc., and Gridon.

 

1. Introduction                             

              1.1 Market Definition                  

              1.2 Scope of the report               

              1.3 Study Assumptions               

              1.4 Base Currency, Base Year and Forecast Periods                       

2. Research Methodology                                       

              2.1 Analysis Design                      

              2.2 Research Phases                    

                             2.2.1 Secondary Research          

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling    

                             2.2.4 Expert Validation 

              2.3 Study Timeline                       

3. Report Overview                                    

              3.1 Executive Summary              

              3.2 Key Inferencees                     

4. Market Dynamics                                   

              4.1 Impact Analysis                      

                             4.1.1 Drivers     

                             4.1.2 Restaints 

                             4.1.3 Opportunities       

              4.2 Regulatory Environment                    

              4.3 Technology Timeline & Recent Trends                         

5. Competitor Benchmarking Analysis                                

              5.1 Key Player Benchmarking                   

                             5.1.1 Market share analysis       

                             5.1.2 Products/Service  

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape                   

              5.3 Joint Ventures & Collaborations                     

6. Market Segmentation                                          

              6.1 Fault Current Limiter Market, By Type                         

                             6.1.1 Superconducting  

                             6.1.2 Non-superconducting       

                             6.1.3 Market Size Estimations & Forecasts (2019-2024) 

                             6.1.4 Y-o-Y Growth Rate Analysis            

                             6.1.5 Market Attractiveness Index          

              6.2 Fault Current Limiter Market, By Voltage Range                      

                             6.2.1 High          

                             6.2.2 Medium  

                             6.2.3 Low          

                             6.2.4 Market Size Estimations & Forecasts (2019-2024) 

                             6.2.5 Y-o-Y Growth Rate Analysis            

                             6.2.6 Market Attractiveness Index          

              6.3 Fault Current Limiter Market, By End-Use                   

                             6.3.1 Power Stations     

                             6.3.2 Oil & Gas 

                             6.3.3 Automotive           

                             6.3.4 Steel & Aluminum

                             6.3.5 Paper Mills & Chemicals   

                             6.3.6 Market Size Estimations & Forecasts (2019-2024) 

                             6.3.7 Y-o-Y Growth Rate Analysis            

                             6.3.8 Market Attractiveness Index          

7. Geographical Landscape                                     

              7.1 Global Identity Governance and Administration Market, by Region                            

              7.2 North America - Market Analysis (2018 - 2024)                        

                             7.2.1 By Country            

                                           7.2.1.1 USA

                                           7.2.1.2 Canada

                             7.2.2 By Type    

                             7.2.3 By Voltage Range 

                             7.2.4 By End-Use            

              7.3 Europe                      

                             7.3.1 By Country            

                                           7.3.1.1 UK

                                           7.3.1.2 France

                                           7.3.1.3 Germany

                                           7.3.1.4 Spain

                                           7.3.1.5 Italy

                                           7.3.1.6 Rest of Europe

                             7.3.2 By Type    

                             7.3.3 By Voltage Range 

                             7.3.4 By End-Use            

              7.4 Asia Pacific                

                             7.4.1 By Country            

                                           7.4.1.1 China

                                           7.4.1.2 India

                                           7.4.1.3 Japan

                                           7.4.1.4 South Korea

                                           7.4.1.5 South East Asia

                                           7.4.1.6 Australia & NZ

                                           7.4.1.7 Rest of Asia-Pacific

                             7.4.2 By Type    

                             7.4.3 By Voltage Range 

                             7.4.4 By End-Use            

              7.5 Latin America                         

                             7.5.1 By Country            

                                           7.5.1.1 Brazil

                                           7.5.1.2 Argentina

                                           7.5.1.3 Mexico

                                           7.5.1.4 Rest of Latin America

                             7.5.2 By Type    

                             7.5.3 By Voltage Range 

                             7.5.4 By End-Use            

              7.6 Middle East and Africa                       

                             7.6.1 By Country            

                                           7.6.1.1 Middle East

                                           7.6.1.2 Africa

                             7.6.2 By Type    

                             7.6.3 By Voltage Range 

                             7.6.4 By End-Use            

8. Key Player Analysis                                

              8.1 ABB Ltd                      

                             8.1.1 Business Description         

                             8.1.2 Products/Service  

                             8.1.3 Financials

                             8.1.4 SWOT Analysis     

                             8.1.5 Recent Developments       

                             8.1.6 Analyst Overview 

              8.2 Applied Materials                  

              8.3 Alstom                       

              8.4 Zenergy Power Electric Co                  

              8.5 Siemens AG              

              8.6 American Superconductor Corporation                      

              8.7 Rongxin Power Electronic Co. Ltd                   

              8.8 Superpower Inc                     

              8.9 Gridon                       

9. Market Outlook & Investment Opportunities                             

Appendix                                       

              List of Tables                   

              List of Figures                 

  1. Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  2. Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

  3. Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  4. Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  5. Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  6. A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  7. Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  8. An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  9. Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Fault Current Limiter Market By Region, From 2021-2026 ( USD Billion )

  2. Global Fault Current Limiter Market By Type, From 2021-2026 ( USD Billion )

  3. Global Superconducting Market By Region, From 2021-2026 ( USD Billion )

  4. Global Non-superconducting Market By Region, From 2021-2026 ( USD Billion )

  5. Global Fault Current Limiter Market By Voltage Range, From 2021-2026 ( USD Billion )

  6. Global High Market By Region, From 2021-2026 ( USD Billion )

  7. Global Medium Market By Region, From 2021-2026 ( USD Billion )

  8. Global Low Market By Region, From 2021-2026 ( USD Billion )

  9. Global Fault Current Limiter Market By End-Use, From 2021-2026 ( USD Billion )

  10. Global Power Stations Market By Region, From 2021-2026 ( USD Billion )

  11. Global Oil & Gas Market By Region, From 2021-2026 ( USD Billion )

  12. Global Automotive Market By Region, From 2021-2026 ( USD Billion )

  13. Global Steel & Aluminum Market By Region, From 2021-2026 ( USD Billion )

  14. Global Paper Mills & Chemicals Market By Region, From 2021-2026 ( USD Billion )

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