Emergence of New Facilities and Heavy Investments to Present Opportunities for Manufacturers in Fault Current Limiter Market: Manufacturers are concentrating on developing products that holds a holistic combination of purpose, technology and innovation. Fault current limiter market is expected to be an emerging market where manufacturers are offering prototypes for verification and testing purposes, by distributors in U.S. and U.K. This step has taken place as the existing technologies fail to fulfil the demands and market needs.
AMSC (American Superconductors Corporation) enters into a treaty with ComEd for deploying high-temperature superconductor technology of AMSC, which in turn would help in developing more reliable electric grid for ComEd customers. Increasing investments from regulatory bodies such as DHS (Department of Homeland Security) is expected to have positive impact on fault current limiter market as growing initiatives would help in securing electric grid of the nation against extreme weather conditions. Installation of REG system (Resilient Electric Grid) of AMSC in Chicago is likely to be a permanent part of power grid of Chicago.
ABB has made heavy investment in China for developing world’s most innovative flexible and automated robotics factory in Shanghai. The new factory is likely to be developed in a way that it’s the most environmentally sustainable and sophisticated factory of future that would begin functioning by 2020-end. In addition, ABB and municipal government of Shanghai have collaborated on a wide-ranging strategic cooperation agreement for supporting infrastructure, transport, energy and industry of the region. For eliminating costly downtime, ABB has been providing innovative digital solutions, which in turn helps in improving energy usage, reliability and performance, thereby supplying access to world’s best platforms.
Western Power Distribution recently announced that they will be installing FCLi (Fault Current Limiting Interrupter) of GridON for enabling cost-efficient connection of the independent generations as well as renewable energy resources. This step has been taken exclusively by the leading companies by mitigating extreme fault currents from the advanced generation sources. Other UK network operators are also expected to increase demand for FCLi (Fault Current Limiting Interrupter) of GridON. This strategic move is expected to benefit the leading fault current limiter market player in elevating their position in the global market with increased number of sales.
Demand for Renewable and Energy-Efficient Supply to Fuel Supply of Fault Current Limiter: Surging concerns with regards to reliability and efficiency of power supply amongst the customers is anticipated to drive fault current limiter market. Current inadequacy of fuses and circuit breakers with rising grid interconnections is expected to drive fault current limiter market. Growing demand for modernized and intelligent power grid infrastructure coupled with rising preference for the renewable energy applications is expected to provide plenty of growth opportunities to fault current limiter market. Favorable initiatives by governments for modernizing and expanding current distribution and transmission system with growing demand from power stations is significantly supporting the growth of fault current limiter market.
Substantial balance of HTS-FCL (high-temperature superconducting fault current limiter) and safety concerns in power systems with high costs have been posing as key challenges for fault current limiter market. Unavailability of commercialization and absence of globally accepted measures for fault current limiter is likely to be an important restraining factor for fault current limiter market.
Super Conducting Fault Current Limiter Products to Overpower Fault Current Limiter Market: Super conducting fault current limiter is gaining significant traction in fault current limiter market with growing use of superconductor materials across applications such as medical, electric motors, power transmission, transportation and generators amongst others. Ability to transit into highly resistive state during critical fault stages is mainly driving the demand and supply for super conducting fault current limiter. Stability and compactness are the major factors driving the preference for super conducting fault current limiter in the global market.
North America Makes Heavy Investments; Lucrative Opportunities Spotted in APAC: Europe and North America are making heavy investments in upgrading existing Transmission and Distribution (T&D) infrastructure, thereby positively influencing fault current limiter market of the regions. North America is expected to witness a significant growth in fault current limiter market owing to increasing smart grid initiatives, renewable projects, energy efficiency measures and constant upgradation of T&D infrastructure.
Europe fault current limiter market is keenly concentrating on the smart grid technology with upgradation of its existing infrastructure for better reliability and effective networks. Conventional protection devices have been holding limited capability to deal with rising capacity, particularly at the high voltage networks. The technical fissure increases the scope of growing demand for the fault current limiter in Europe. Heavy investments are being made by the governments in U.K. by offering significant amount to DECC (Department of Energy and Climate Change) for developing next-gen fault current limiter.
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In order to cater to the growing energy demands, APAC is witnessed to make a major shift towards adoption of renewable energy sources. Further, governments across APAC are taking lucrative steps towards development of renewable energy programs, which in turn drives APAC fault current limiter market.