17-Feb-2021 | Zion Market Research
As per the researchers at Zion Market Research, the global fault current limiter market was capitalized at around USD 3.01 billion in 2018 and is projected to attain about USD 6.27 billion by 2025, expanding at about 9.1% CAGR during the forecast period. The key players active in the global fault current limiter market consist of Alstom, American Superconductor Corporation, ABB LTD, Applied Materials, Siemens Ag, Superpower Inc., Gridon, Rongxin Power Electronic Co. Ltd., Superconductor Technologies Inc., and Zenergy Power Electric Co., among others.
Rising Demand For Modernized And Intelligent Power Grid Infrastructure To Boost Market Growth
During the forecast period, the expansion of the global fault current limiter market is anticipated to be mostly propelled by the rising demand for modernized and intelligent power grid infrastructure along with the worldwide inclination toward renewable energy applications. Moreover, the fault current limiter entails several parts made of visitors, glass, solenoids, diodes, metal wirings, copper, and others. There has been a surge in the price of a few of these raw materials as a result of weak control over the manufacturing cost. This, in turn, makes the overall assemblage of the device costly, thus obstructing the expansion of the fault current limiter market.
Based On Voltage Range, High Voltage Fault Current Limiter Segment To Lead The Global Market
Based on the voltage range, the global fault current limiter market is divided into medium (1-40 kV), low (Less than 1kV), and high (over 40kV). In the past few years, there has been a rise in the acceptance of the low and medium voltage fault current limiters. However, the high voltage fault current limiter is yet in the budding phase. Nevertheless, a few of the nations like China, Germany, and the U.S. have set up high voltage current limiters but haven’t yet commercialized to a bigger extent. During the forecast period, the high voltage fault current limiter segment is projected to expand at a considerable rate.
North America Projected To Govern The Global Market During The Forecast Period
Huge expenditure is made by North America and Europe in improving the prevailing T&D (Transmission and Distribution) infrastructure, thus helping the fault current limiter market to flourish in these regions. Further, North America is projected to observe a considerable growth on account of the rising smart grid initiatives, energy efficiency measures, and renewable projects in this region. The fault current limiter market in Europe is intensely focusing on the smart grid technology with the improvisation of its prevailing infrastructure for effective networks and enhanced reliability. Conventional protection devices have been possessing inadequate ability to cope with the increasing capacity, mainly at the high voltage networks, thus increasing the scope of elevated demand in Europe for the fault current limiter.
Browse the full “Fault Current Limiter Market - By Voltage Range (Medium Voltage Fault Current Limiter, Low Voltage Fault Current Limiter, And High Voltage Fault Current Limiter), By Type (Non-Superconducting Fault Current Limiter And Superconducting Fault Current Limiter), By End-Users (Oil & Gas, Power Stations, Steel & Aluminum, Automotive, Chemicals, And Paper Mills) And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/fault-current-limiter-market
The global fault current limiter market is segmented as follows:
By Voltage Range
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651