Fault Current Limiter/Controller Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

Albany, NY -- (SBWire) -- 01/19/2016 --A report from Transparency Market Research, titled "Fault Current Limiter/Controller Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", states that the global fault current limiter/controller market is expected to expand rapidly due to the increasing incidence of electrical faults and power wastage.

A fault current is an abnormal current in any electrical power system. A short circuit, where the electrical current bypasses normal load, is the major reason due to which an electrical fault occurs. Fault current limiters (FCL) are equipment or devices commonly used in power systems to control the wastage of power. Fault current limiters limit the amount of power flowing through power systems and enable uninterrupted operation of the power systems, thereby minimizing the risk of faults. By minimizing the risk of faults, fault current limiters ensure the safety of the consumers.

The global fault current limiter/controller market is emerging rapidly as the leading players and new companies are introducing new varieties of FCLs every year. FCLs are an emerging field, as plenty of manufacturers are offering prototypes for verification and tests. The concept of fault current limiters and controllers is highly appreciated and accepted as its technique enables utilities operators to efficiently save power.

By geography, the global fault current limiter/controller market is divided into Asia Pacific, Europe, North America, and rest of the World. The adoption rate of fault current limiters and controllers is the highest in North America, followed by Europe. The safety features and capacity of fault current limiters to avoid electrical faults are the two main factors expected to propel the market for fault current limiters/controllers in North America and Europe.

The global fault current limiter/controller market is highly competitive and fragmented. With the entry of new players, the global fault current limiter/controller market is expected to become more competitive and thus tougher for the leading players in the years to come. Some of the leading companies operating in the global fault current limiter/controller market are Rongxin Power Electronic Co. Ltd., ABB Limited, Nexans, and American Superconductors (AMSC).

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AMSC and Nexans recently introduced new fault current limiters/controllers for the North American utilities so as to develop grid reliability and reduce cost. Demand for fault current limiters/controllers is expected to increase in Asia Pacific in the years to come due to rapid industrialization. Increasing concerns amongst power suppliers to maintain secure and safe transmission of electricity are expected to propel the global fault current limiter/controller market in the coming few years.

The ability of fault current limiters to minimize electrical faults help avoid bodily injuries and burns. The capacity of fault current limiters to minimize the risk of faults by controlling power transmission adds to the safety of the customers. This is one of the major factors expected to drive the global fault current limiter/controller market in the years to come. Constant support from the governments of various countries to develop next-generation fault current limiters is anticipated to propel the global fault current limiter/controller market in the coming years. For instance, recently, the government of the U.K. sanctioned around US$1 mn to the Department of Energy and Climate Change to develop next-generation fault current limiters.

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