Fault Current is any abnormal current in an electrical power system. An electrical fault may occur due to short circuit, where the current bypasses the normal load. Fault Current Limiters (FCL’s) are devices used in power systems that are used to control the power wastage. FCL’s limit the amount of current flowing through the systems and allows for the continual uninterrupted operation of the system, thereby reducing the risk of fault and enhancing the safety of the consumer.
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FCL is one of the emerging markets with a number of manufacturers offering prototypes for test and verification by the distributors mainly in U.K and the U.S. The concept, however, is appreciated and it is accepted that existing technologies do not fulfill the requirements and market needs. FCL’s have gained wide acceptance in North America and Europe owing to the unique safety features they offer to the power sources. The demand for commercial power has increased due to growing industrialization, chiefly in Asia-Pacific. Raising concerns among power suppliers to provide safe and secure transmission of electricity to the customers have spurred the market growth.
Human body is a good conductor of electricity. If any part of the body comes in contact with electrical supply, electricity flows in the body through the tissues which can cause extensive burns and can even stop the heart. The ability of FCL’s to control the risk of faults by limiting the power transmission through power systems; thereby adding to the safety of the customers is a major factor driving the market. Government of U.K awarded around USD 1 million to the Department of Energy and Climate Change for the development of next generation FCL’s. However, FCL’s are still in their emerging phase and the governments are likely to increase the use of FCL’s in the next three years providing opportunities for the market.
Rongxin Power Electronic Co. Ltd., Nexans and American Superconductors (AMSC), ABB Limited are some of the key participants in the FCL’s market. Recently, Nexans and AMSC introduced FCL’s for North American utilities to improve grid reliability and operations while reducing costs.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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