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Global Fault Current Limiter Market
Global Fault Current Limiter Market was valued at US$ 3.20 Bn in 2019 and is expected to reach US$ 6.50 Bn by 2027, at a CAGR of 9.26 % during a forecast period.
Global Fault Current Limiter Market, By Geography
Increasing demand for intelligent & modernized power grid infrastructure and the universal preference for renewable energy applications will offer abundant growth opportunities to the fault current limiter market across the globe. Furthermore, Fault current limiter contains multiple components made of glass, visitors, diodes, solenoids, copper, and metal wirings and others. Cost of the raw materials for these components are increasing owing to a weak control over the cost of manufacturing. These factors are making overall assembly of the device expensive, which can be hampering the growth in the fault current limiter market.
Fault current limiter limits the amount of current flow through the systems and helps to a nonstop operation of the system by reducing the risk and improves the protection of the consumer. High current passes through the human body it may burn the muscles and can even end the heartbeat. Thus, fault current limiter is the best substitute to evade such risk that limits power transmission through power systems and offers safety to the consumers. Fault current happens in the electrical power system owing to the short circuit where current evades the normal load. Fault current limiter used in the power systems in the direction to control power wastage. It is a protection component in modern transmission and distribution networks, which shrinks chances of incidence of fault currents and help in working properly.
The objective of the report is to present a comprehensive assessment of the global fault current limiter market and contains considerate insights, facts, historical data, industry-validated market data and projections with appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global fault current limiter market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Superconducting fault current limiter is expected to share significant growth in the global fault current limiter market. It is the best substitute compared to other conventional protection equipment.
Superconducting fault current limiter is widely used in end-user industries such as energy, defense, transportation, chemicals, and many others, which is estimated to continue to dominate the market during the forecast period. Capability to transfer into the highly resistive state during serious fault stages is primarily driving the demand and source for superconducting fault current limiter. Stability and compactness are the main factors driving the inclination for superconducting fault current limiter in the global fault current limiter market.
Europe is estimated to share significant growth in the global fault current limiter market. The growth in the market is attributed to the increasing focus of consumers on the usage of smart grid technology. An up gradation in the old infrastructure for superior and sufficient networks are expected to boost the fault current limiter market in this region. Smart technology will assimilate modern communication technologies and renewable energy sources include wind and solar into future power networks to supply more effective, reliable, and safe power. One of the critical problems owing to the incorporation is an excessive increase in fault currents in the electrical system. Conformist protection devices are less capable to handle with the increased capacity, particularly at high voltage networks. This practical gap is growing the scope and demand for fault current limiter in the region, which is a dynamic component of modern day technology.
Scope of the Report Global Fault Current Limiter Market
Global Fault Current Limiter Market, By Type
• Superconducting fault current limiter
• Non-superconducting fault current limiter
Global Fault Current Limiter Market, By Power Rating
• Low (Less than 1kV)
• Medium (1-40 kV)
• High (More than 40 kV)
Global Fault Current Limiter Market, By End User
• Power Stations
• Oil & Gas
• Steel & Aluminum
• Paper Mills
Global Fault Current Limiter Market, By Geography
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players in Global Fault Current Limiter Market
• Superconductor Technologies Inc.
• Rongxin Power Electronic Co. Ltd.
• Zenergy Power Electric Co.
• Toshiba Corporation
• ABB LTD
• American Superconductor Corporation
• Siemens Ag
• Applied Materials
• Superpower Inc.
• Furukawa Electric Co., Ltd
• Northern Powergrid
• Wilson transformer
For More Information Visit @: https://www.maximizemarketresearch.com/market-report/global-fault-current-limiter-market/24834/This Report Is Submitted By : Maximize Market Research Company
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