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Faulted Circuit Indicators Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026

Published By :

Transparency Market Research

Category :

Chemicals

Power distribution networks are vulnerable to faults caused by different factors such as adverse climatic conditions and equipment failure. For improving the service reliability and avoid predetermined penalties, it is desirable for utilities to quickly find the location of the fault and consequently, reduce the restoration time. Working principle of the faulted circuit indicator is that it typically senses the magnetic field produced by excess flow of the current through a cable or conductor. Some indicators also measure the electric field generated by voltage in the conductor.

Faulted circuit indicators are devices which indicate passage of the fault current. When properly installed, they can reduce operating costs and service interruptions by identifying failure of the section. Faulted circuit indicators enhance safety and lessen equipment damage by dropping the need for risky fault-clearing procedures. In order to achieve ample benefits, the faulted circuit indicator must reliably indicate the passage of the fault current through the cable on which the faulted circuit indicator is mounted.

Overhead-line faulted circuit indicators are used to visualize the event of an electric current fault occurring in any overhead electric system. On the other hand, underground indicators trace faults in underground transmission systems located in underground vaults. Some faulted circuit indicators indicate back to the control room using cellular or radio signals.

Faulted circuit indicators can be placed in cables or overhead areas. The overhead protection includes detecting overcurrent, overload, overvoltage, earth fault, short circuit fault, and any other instability which would initiate the operating of other safety equipment. Faulted circuit indicators are used in single-/three-phase overhead conductors, feeder disconnects, unfused taps, and in underground cable areas. They are also employed in underground transitions including dips and risers. On a grounded system, when an electric fault is caused due to surplus current flowing through a conductor that induces a magnetic field, the fault circuit indicator detects the fault and causes a change in state of the mechanical target. Earth faulted circuit indicators are used for ungrounded systems and sense the vector sum of the current and any imbalance results indicate a fault on one or more of the three phases.

Based on region, the global faulted circuit indicators market can be classified into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific. Asia Pacific is expected to dominate the global faulted circuit indicators market during the forecast period. Increasing development and establishment of new smart grids, growing industrialization, and rising installation and rearrangement of transmission lines are some of the factors driving the demand for faulted circuit indicators in the region. Additionally, rising usage of electric utilities, increasing electricity generation, growing industrial sector, and high investments made by certain players to protect industrial machinery promote the growth of the market.

Asia Pacific, followed by North America, holds a major share of the global faulted circuit indicators market, in terms of value. China and the U.S. together hold around 50% the global market share. The market in Middle East & Africa, followed by Western Europe, is slated to witness significant growth during the forecast period.

A few countries in Western and Eastern Europe are inclining toward implementation of off-grid power systems, which is projected to augment the demand for faulted circuit indicators in these countries in the near future. Thus, these regions are expected to gain a significant market share in the next few years. Additionally, sales of faulted circuit indicators in Asia Pacific and Middle East & Africa are projected to increase considerably in the near future.

Key players operating in the global faulted circuit indicators market are Eaton Corporation, Power Deliver Products Inc., ABB, General Electric, Siemens AG, Schneider Electric, S&C Electric Company, and Sun Electric Company.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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