Market Research

Fault Current Limiter Market Forecasts to 2030 – Global Analysis By Type (Superconducting Fault Current Limiter (SFCL) and Non-Superconducting Fault Current Limiter (NSFCL)), Voltage Range (Low, Medium and High), End User and By Geography

Best Price Guarantee Length Publisher Published Date SKU
from $4,150 175 Pages Stratistics Market Research Consulting September, 2023 SMR18188155
Best Price Guarantee
Price from $4,150
Length 175 Pages
Publisher Stratistics Market Research Consulting
Published Date September, 2023
SKU SMR18188155

Fault Current Limiter Market Forecasts to 2030 – Global Analysis By Type (Superconducting Fault Current Limiter (SFCL) and Non-Superconducting Fault Current Limiter (NSFCL)), Voltage Range (Low, Medium and High), End User and By Geography


According to Stratistics MRC, the Global Fault Current Limiter Market is accounted for $5.4 billion in 2023 and is expected to reach $12.5 billion by 2030 growing at a CAGR of 9.2% during the forecast period. A Fault Current Limiter (FCL) is a device used in electrical power systems to limit the amount of current that flows in the event of a fault or short circuit. It helps protect equipment, prevent damage, and maintain the stability of the electrical grid. A fault current is generated in the power supply system when the current bypasses the normal load due to a short circuit. It is used to control wasted energy in power systems.

According to the U.S. Energy Information Administration (EIA), there were about 11,925 utility-scale electric power plants in the United States in 2021.

Market Dynamics:

Driver:

Grid integration of renewable energy

As renewable energy sources like solar and wind are integrated into the electrical grid, there is a need for technologies like FCLs to manage potential fluctuations and faults that can arise from intermittent energy generation. FCLs can enhance the stability of power systems by limiting the fault current levels, which can prevent cascading failures and improve the overall reliability of the grid. They allow for better management of intermittent energy generation and help reduce the reliance on non-renewable energy sources which is driving the market demand.

Restraint:

Safety concerns

A fault current in an electrical grid refers to an abnormal flow of electric current caused by a short circuit or other fault. This can potentially lead to various safety concerns. Fault currents can result in elevated levels of electrical current flowing through equipment and conductors. This can pose a significant risk of electrocution to individuals coming into contact with the affected components. Factors such as voltage fluctuations, thermal stress and overloading are hampering the market growth.

Opportunity:

Raising demand for intelligent & modernized power grid infrastructure

The high demand for intelligent and modernized power grid infrastructure is driven by a combination of technological advancements, environmental concerns, regulatory mandates, and the need for improved grid reliability. Modernizing the grid enables the integration of clean energy sources, reducing reliance on fossil fuels and contributing to efforts to combat climate change. Advanced grid systems allow for dynamic demand response programs, where electricity consumption can be adjusted based on grid conditions. Technological advancements, economic benefits and demand response accelerated the market growth.

Threat:

High material costs & complex engineering

Installing a fault current grid requires skilled labor, often from specialized electrical engineers and technicians. The installation process may be more time-consuming and intricate. The materials used in fault current grids, including high-quality conductors, insulators, and protective elements, can be expensive. Designing a fault current grid requires careful planning, analysis, and engineering expertise. This complexity adds to the overall cost.

Covid-19 Impact

The COVID-19 pandemic has had a range of effects on various industries and technologies, including fault current limiters (FCLs) and their development and deployment. The pandemic led to disruptions in global supply chains, affecting the availability of components and materials needed for manufacturing FCLs. Research and development efforts for FCL technology have been affected by restrictions on in-person collaboration, limited access to labs and testing facilities, and disruptions in the availability of specialized equipment. The post pandemic has raised collaborations for complex engineering projects.

The superconducting fault current limiter (SFCL) segment is expected to be the largest during the forecast period

The superconducting fault current limiter (SFCL) segment is estimated to have a lucrative growth. A Superconducting Fault Current Limiter (SFCL) is an advanced electrical device designed to limit the magnitude of fault currents that occur in electrical power systems. It utilizes the unique properties of superconductors to rapidly change their electrical resistance in response to high current surges. Its improved grid reliability, compatibility with renewable energy sources, compact and lightweight design factors are fuelling the segment’s demand.

The automotive segment is expected to have the highest CAGR during the forecast period

The automotive segment is anticipated to witness the fastest CAGR growth during the forecast period. FCLs prevent overload situations in the electrical system. This ensures that each component operates within its designed capacity, avoiding overheating and potential damage. Fault Current Limiters (FCLs) in automotive applications provide various benefits, primarily focused on enhancing safety, protecting electrical systems, and improving vehicle performance.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing 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.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the upgradations 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.

Key players in the market

Some of the key players profiled in the Fault Current Limiter Market include Siemens AG, ALS Ltd, American Superconductor Corporation, Nexans, Gridon Ltd, Rongxin Power Electronic Co., Ltd., Applied Materials, Inc., Superconductor Technologies, Inc., SuperPower, Inc., ABB Limited, Suzlon Energy Australia (SEA), Wilson Transformer Company and Furukawa Electric Co Limited.

Key Developments:

In June 2022, Applied Materials, Inc. acquired Picosun Oy, an innovator in atomic layer deposition technology, especially for specialty semiconductors, to expand its technology portfolio.

In October 2020, American Superconductor Corporation, a prominent system provider of megawatt-scale power resiliency solutions, announced the acquisition of Northeast Power Systems, Inc. to expand its presence and accelerate toward profitability.

Types Covered:
• Superconducting Fault Current Limiter (SFCL)
• Non-Superconducting Fault Current Limiter (NSFCL)

Voltage Ranges Covered:
• Low
• Medium
• High

End Users Covered:
• Power Stations
• Automotive
• Oil & Gas
• Steel & Aluminum
• Paper Mills
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements



Companies Mentioned
Siemens AG
ALS Ltd
American Superconductor Corporation
Nexans
Gridon Ltd
Rongxin Power Electronic Co., Ltd.
Applied Materials, Inc.
Superconductor Technologies, Inc.
SuperPower, Inc.
ABB Limited
Suzlon Energy Australia (SEA)
Wilson Transformer Company
Furukawa Electric Co Limited


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Fault Current Limiter Market, By Type
5.1 Introduction
5.2 Superconducting Fault Current Limiter (SFCL)
5.3 Non-Superconducting Fault Current Limiter (NSFCL)
6 Global Fault Current Limiter Market, By Voltage Range
6.1 Introduction
6.2 Low
6.3 Medium
6.4 High
7 Global Fault Current Limiter Market, By End User
7.1 Introduction
7.2 Power Stations
7.3 Automotive
7.4 Oil & Gas
7.5 Steel & Aluminum
7.6 Paper Mills
7.7 Other End Users
8 Global Fault Current Limiter Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Siemens AG
10.2 ALS Ltd
10.3 American Superconductor Corporation
10.4 Nexans
10.5 Gridon Ltd
10.6 Rongxin Power Electronic Co., Ltd.
10.7 Applied Materials, Inc.
10.8 Superconductor Technologies, Inc.
10.9 SuperPower, Inc.
10.10 ABB Limited
10.11 Suzlon Energy Australia (SEA)
10.12 Wilson Transformer Company
10.13 Furukawa Electric Co Limited
List of Tables
Table 1 Global Fault Current Limiter Market Outlook, By Region (2021-2030) ($MN)
Table 2 Global Fault Current Limiter Market Outlook, By Type (2021-2030) ($MN)
Table 3 Global Fault Current Limiter Market Outlook, By Superconducting Fault Current Limiter (SFCL) (2021-2030) ($MN)
Table 4 Global Fault Current Limiter Market Outlook, By Non-Superconducting Fault Current Limiter (NSFCL) (2021-2030) ($MN)
Table 5 Global Fault Current Limiter Market Outlook, By Voltage Range (2021-2030) ($MN)
Table 6 Global Fault Current Limiter Market Outlook, By Low (2021-2030) ($MN)
Table 7 Global Fault Current Limiter Market Outlook, By Medium (2021-2030) ($MN)
Table 8 Global Fault Current Limiter Market Outlook, By High (2021-2030) ($MN)
Table 9 Global Fault Current Limiter Market Outlook, By End User (2021-2030) ($MN)
Table 10 Global Fault Current Limiter Market Outlook, By Power Stations (2021-2030) ($MN)
Table 11 Global Fault Current Limiter Market Outlook, By Automotive (2021-2030) ($MN)
Table 12 Global Fault Current Limiter Market Outlook, By Oil & Gas (2021-2030) ($MN)
Table 13 Global Fault Current Limiter Market Outlook, By Steel & Aluminum (2021-2030) ($MN)
Table 14 Global Fault Current Limiter Market Outlook, By Paper Mills (2021-2030) ($MN)
Table 15 Global Fault Current Limiter Market Outlook, By Other End Users (2021-2030) ($MN)
Table 16 North America Fault Current Limiter Market Outlook, By Country (2021-2030) ($MN)
Table 17 North America Fault Current Limiter Market Outlook, By Type (2021-2030) ($MN)
Table 18 North America Fault Current Limiter Market Outlook, By Superconducting Fault Current Limiter (SFCL) (2021-2030) ($MN)
Table 19 North America Fault Current Limiter Market Outlook, By Non-Superconducting Fault Current Limiter (NSFCL) (2021-2030) ($MN)
Table 20 North America Fault Current Limiter Market Outlook, By Voltage Range (2021-2030) ($MN)
Table 21 North America Fault Current Limiter Market Outlook, By Low (2021-2030) ($MN)
Table 22 North America Fault Current Limiter Market Outlook, By Medium (2021-2030) ($MN)
Table 23 North America Fault Current Limiter Market Outlook, By High (2021-2030) ($MN)
Table 24 North America Fault Current Limiter Market Outlook, By End User (2021-2030) ($MN)
Table 25 North America Fault Current Limiter Market Outlook, By Power Stations (2021-2030) ($MN)
Table 26 North America Fault Current Limiter Market Outlook, By Automotive (2021-2030) ($MN)
Table 27 North America Fault Current Limiter Market Outlook, By Oil & Gas (2021-2030) ($MN)
Table 28 North America Fault Current Limiter Market Outlook, By Steel & Aluminum (2021-2030) ($MN)
Table 29 North America Fault Current Limiter Market Outlook, By Paper Mills (2021-2030) ($MN)
Table 30 North America Fault Current Limiter Market Outlook, By Other End Users (2021-2030) ($MN)
Table 31 Europe Fault Current Limiter Market Outlook, By Country (2021-2030) ($MN)
Table 32 Europe Fault Current Limiter Market Outlook, By Type (2021-2030) ($MN)
Table 33 Europe Fault Current Limiter Market Outlook, By Superconducting Fault Current Limiter (SFCL) (2021-2030) ($MN)
Table 34 Europe Fault Current Limiter Market Outlook, By Non-Superconducting Fault Current Limiter (NSFCL) (2021-2030) ($MN)
Table 35 Europe Fault Current Limiter Market Outlook, By Voltage Range (2021-2030) ($MN)
Table 36 Europe Fault Current Limiter Market Outlook, By Low (2021-2030) ($MN)
Table 37 Europe Fault Current Limiter Market Outlook, By Medium (2021-2030) ($MN)
Table 38 Europe Fault Current Limiter Market Outlook, By High (2021-2030) ($MN)
Table 39 Europe Fault Current Limiter Market Outlook, By End User (2021-2030) ($MN)
Table 40 Europe Fault Current Limiter Market Outlook, By Power Stations (2021-2030) ($MN)
Table 41 Europe Fault Current Limiter Market Outlook, By Automotive (2021-2030) ($MN)
Table 42 Europe Fault Current Limiter Market Outlook, By Oil & Gas (2021-2030) ($MN)
Table 43 Europe Fault Current Limiter Market Outlook, By Steel & Aluminum (2021-2030) ($MN)
Table 44 Europe Fault Current Limiter Market Outlook, By Paper Mills (2021-2030) ($MN)
Table 45 Europe Fault Current Limiter Market Outlook, By Other End Users (2021-2030) ($MN)
Table 46 Asia Pacific Fault Current Limiter Market Outlook, By Country (2021-2030) ($MN)
Table 47 Asia Pacific Fault Current Limiter Market Outlook, By Type (2021-2030) ($MN)
Table 48 Asia Pacific Fault Current Limiter Market Outlook, By Superconducting Fault Current Limiter (SFCL) (2021-2030) ($MN)
Table 49 Asia Pacific Fault Current Limiter Market Outlook, By Non-Superconducting Fault Current Limiter (NSFCL) (2021-2030) ($MN)
Table 50 Asia Pacific Fault Current Limiter Market Outlook, By Voltage Range (2021-2030) ($MN)
Table 51 Asia Pacific Fault Current Limiter Market Outlook, By Low (2021-2030) ($MN)
Table 52 Asia Pacific Fault Current Limiter Market Outlook, By Medium (2021-2030) ($MN)
Table 53 Asia Pacific Fault Current Limiter Market Outlook, By High (2021-2030) ($MN)
Table 54 Asia Pacific Fault Current Limiter Market Outlook, By End User (2021-2030) ($MN)
Table 55 Asia Pacific Fault Current Limiter Market Outlook, By Power Stations (2021-2030) ($MN)
Table 56 Asia Pacific Fault Current Limiter Market Outlook, By Automotive (2021-2030) ($MN)
Table 57 Asia Pacific Fault Current Limiter Market Outlook, By Oil & Gas (2021-2030) ($MN)
Table 58 Asia Pacific Fault Current Limiter Market Outlook, By Steel & Aluminum (2021-2030) ($MN)
Table 59 Asia Pacific Fault Current Limiter Market Outlook, By Paper Mills (2021-2030) ($MN)
Table 60 Asia Pacific Fault Current Limiter Market Outlook, By Other End Users (2021-2030) ($MN)
Table 61 South America Fault Current Limiter Market Outlook, By Country (2021-2030) ($MN)
Table 62 South America Fault Current Limiter Market Outlook, By Type (2021-2030) ($MN)
Table 63 South America Fault Current Limiter Market Outlook, By Superconducting Fault Current Limiter (SFCL) (2021-2030) ($MN)
Table 64 South America Fault Current Limiter Market Outlook, By Non-Superconducting Fault Current Limiter (NSFCL) (2021-2030) ($MN)
Table 65 South America Fault Current Limiter Market Outlook, By Voltage Range (2021-2030) ($MN)
Table 66 South America Fault Current Limiter Market Outlook, By Low (2021-2030) ($MN)
Table 67 South America Fault Current Limiter Market Outlook, By Medium (2021-2030) ($MN)
Table 68 South America Fault Current Limiter Market Outlook, By High (2021-2030) ($MN)
Table 69 South America Fault Current Limiter Market Outlook, By End User (2021-2030) ($MN)
Table 70 South America Fault Current Limiter Market Outlook, By Power Stations (2021-2030) ($MN)
Table 71 South America Fault Current Limiter Market Outlook, By Automotive (2021-2030) ($MN)
Table 72 South America Fault Current Limiter Market Outlook, By Oil & Gas (2021-2030) ($MN)
Table 73 South America Fault Current Limiter Market Outlook, By Steel & Aluminum (2021-2030) ($MN)
Table 74 South America Fault Current Limiter Market Outlook, By Paper Mills (2021-2030) ($MN)
Table 75 South America Fault Current Limiter Market Outlook, By Other End Users (2021-2030) ($MN)
Table 76 Middle East & Africa Fault Current Limiter Market Outlook, By Country (2021-2030) ($MN)
Table 77 Middle East & Africa Fault Current Limiter Market Outlook, By Type (2021-2030) ($MN)
Table 78 Middle East & Africa Fault Current Limiter Market Outlook, By Superconducting Fault Current Limiter (SFCL) (2021-2030) ($MN)
Table 79 Middle East & Africa Fault Current Limiter Market Outlook, By Non-Superconducting Fault Current Limiter (NSFCL) (2021-2030) ($MN)
Table 80 Middle East & Africa Fault Current Limiter Market Outlook, By Voltage Range (2021-2030) ($MN)
Table 81 Middle East & Africa Fault Current Limiter Market Outlook, By Low (2021-2030) ($MN)
Table 82 Middle East & Africa Fault Current Limiter Market Outlook, By Medium (2021-2030) ($MN)
Table 83 Middle East & Africa Fault Current Limiter Market Outlook, By High (2021-2030) ($MN)
Table 84 Middle East & Africa Fault Current Limiter Market Outlook, By End User (2021-2030) ($MN)
Table 85 Middle East & Africa Fault Current Limiter Market Outlook, By Power Stations (2021-2030) ($MN)
Table 86 Middle East & Africa Fault Current Limiter Market Outlook, By Automotive (2021-2030) ($MN)
Table 87 Middle East & Africa Fault Current Limiter Market Outlook, By Oil & Gas (2021-2030) ($MN)
Table 88 Middle East & Africa Fault Current Limiter Market Outlook, By Steel & Aluminum (2021-2030) ($MN)
Table 89 Middle East & Africa Fault Current Limiter Market Outlook, By Paper Mills (2021-2030) ($MN)
Table 90 Middle East & Africa Fault Current Limiter Market Outlook, By Other End Users (2021-2030) ($MN)

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