The Business Research Company’s report on the Fault Current Limiter Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the fault current limiter market further?
The rising need for improved and sophisticated power grid infrastructure is expected to propel the growth of the fault current limiter market going forward. Power grid infrastructure refers to the complex network of generation, transmission, and distribution systems that deliver electrical power from producers to consumers, ensuring reliable and efficient energy supply. The growing demand for advanced power grid infrastructure is driven by factors such as increasing energy consumption, the integration of renewable and distributed energy sources, the need for enhanced grid reliability and resilience, and the necessity to modernize aging infrastructure to support technological advancements and ensure efficient energy distribution. Fault current limiters are used in power grid infrastructure to protect equipment by reducing excessive fault currents, ensuring system stability, and preventing outages. For instance, in April 2024, according to the report published by the Lawrence Berkeley National Laboratory, a US-based laboratory of the US Department of Energy (DOE), the total cumulative active capacity in power project queues has risen to nearly 2,600 GW (2.6 TW) in 2023, up from 2.05 TW in 2022 and 1.46 TW in 2021, with active nuclear capacity seeking grid connection growing to 10 GW from approximately 6.5 GW and hydropower capacity remaining steady at around 5.7 GW. Therefore, the rising need for improved and sophisticated power grid infrastructure is driving the fault current limiter market.
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What are the key factors influencing the forecasted market size of the fault current limiter industry?
The fault current limiter market size has grown strongly in recent years. It will grow from $4.88 billion in 2024 to $5.34 billion in 2025 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to increasing power demand, aging power infrastructure, frequent grid failures, urbanization growth, and reliance on fossil fuels.
The fault current limiter market size is expected to see strong growth in the next few years. It will grow to $7.58 billion in 2029 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to grid modernization initiatives, rising electric vehicle adoption, demand for energy efficiency, increasing electricity consumption, and growth in distributed energy resources. Major trends in the forecast period include the adoption of superconducting technologies, digitalization of power networks, development of hybrid fault current limiters, rise in microgrid installations, and advanced monitoring systems integration.
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Who are the leading competitors in the fault current limiter market?
Major companies operating in the fault current limiter market are Siemens AG, Mitsubishi Electric Corporation, ABB Ltd., Applied Materials Inc., Toshiba Corporation, Eaton Corporation PLC, Nexans, LeGrand SA, Furukawa Electric Co., Hubbell Incorporated, GE Grid Solutions LLC, LS Electric Co Ltd, S&C Electric Company, NR Electric Co. Ltd., Wilson Transformer Company, G&W Electric Co., American Superconductor Corporation (AMSC), Scribd Inc., Zenergy Power Electric Co., Rongxin Power Electronic Co. Ltd., Stirling Cryogenics, Theva Dünnschichttechnik GmbH, SuperPower Inc., Gridon Ltd.
Which emerging trends are set to transform the fault current limiter market landscape?
Major companies operating in the fault current limiter market are focusing on developing innovative solutions, such as ultra-fast fault current interruption solutions, to enhance grid protection and reliability by quickly mitigating large electrical currents caused by faults. An ultra-fast fault current interruption solution is a high-speed protection system designed to rapidly detect and disconnect fault currents in electrical networks to prevent damage and enhance system reliability. For instance, in April 2022, Western Power Distribution (WPD), a UK-based electricity distribution network operator, launched the EDGE-FCLi trial, the first-of-its-kind fault limiter solution trial for electricity network faults. The solution can break fault currents in less than 200 microseconds, making it 1,000 times faster than conventional mechanical methods, thereby reducing the risk of damage to equipment and power outages. Its ability to quickly stop large electrical currents improves grid reliability and safety, especially as more distributed generation, such as solar and wind, is integrated into the network.
How do different geographies compare in terms of market share and growth potential in the fault current limiter market?
North America was the largest region in the fault current limiter market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fault current limiter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the fault current limiter market are experiencing the fastest growth?
The fault current limiter market covered in this report is segmented –
1) By Type: Superconducting Fault Current Limiter (SFCL); Non-Superconducting Fault Current Limiter (NSFCL)
2) By Power Rating: Low (Less Than 1 kV); Medium (1-40 kV); High (More Than 40 kV)
3) By End Use: Power Stations; Automotive; Oil And Gas; Steel And Aluminum; Paper Mills; Other End Uses
Subsegments:
1) By Superconducting Fault Current Limiter (SFCL): Resistive SFCL; Inductive SFCL; Hybrid SFCL; Cryogenic SFCL
2) By Non-Superconducting Fault Current Limiter (NSFCL): Fuse-Based NSFCL; Circuit Breaker-Based NSFCL; Thyristor-Based NSFCL; Active Series Compensator-Based NSFCL
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What defines the structure and scope of the fault current limiter market?
A fault current limiter (FCL) is an electrical device designed to reduce or limit the excessive current flow during short circuits or electrical faults in power systems. The FCL instantly restricting the fault current, and FCLs help to protect electrical equipment, maintain system stability, and reduce damage or outages. They are commonly used in power grids to enhance safety and reliability.
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