Transparency Market Research in its new report titled, “Faulted Circuit Indicators Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the faulted circuit indicators market. The TMR report anticipates that the increasing development and establishment of new smart grids will drive the faulted circuit indicators market during the forecast period i.e, 2018-2026.
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, says the report. 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.
From a regional perspective, the global faulted circuit indicators market is split into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific. Among these, Asia Pacific is anticipated 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, says TMR analyst.
Asia Pacific, followed by North America, holds a significant 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.
Prominent players operating in the global faulted circuit indicators market include Eaton Corporation, Power Deliver Products Inc., ABB, General Electric, Siemens AG, Schneider Electric, S&C Electric Company, and Sun Electric Company.
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