The global fault current limiters market is projected to grow from USD 5.2 billion in 2023 to USD 11.3 billion by 2033, with a CAGR of 8.0% over the forecast period. This growth is expected to create an absolute opportunity of USD 6.1 billion by 2033.
Superconducting fault current limiters are anticipated to remain the top-selling type due to their ability to swiftly limit fault currents, along with their compact and low-maintenance design. The superconducting segment is projected to expand at a CAGR of 7.9% through 2033, following a historical growth rate of 9.8% from 2018 to 2022.
Increased adoption of fault current limiters across industries such as power generation and distribution, oil & gas, and automotive is driving market growth. These devices have become essential for limiting fault currents and safeguarding valuable equipment in electrical power systems.
Rising investments in expanding power infrastructure worldwide, coupled with the growing need for stable energy supplies, are expected to fuel demand for fault current limiters. Additionally, advancements in fault current limiter technologies, the renewable energy boom, and the development of smart grid systems are likely to further boost market expansion through 2033.Bottom of Form
Key Takeaways from the Fault Current Limiters Market Report:
- The global fault current limiters industry is forecast to cross a valuation of US$ 11.3 billion by 2033.
- Based on type, superconducting fault current limiter segment is set to thrive at 7.9% CAGR during the assessment period.
- By voltage range, low voltage FCLs segment is expected to expand at a CAGR of 7.7% through 2033.
- The United States fault current limiters industry is projected to reach a valuation of US$ 2.3 billion by 2033.
- Demand for fault current limiters in Japan is forecast to rise at 7.9% CAGR during the assessment period.
- China fault current limiters industry is anticipated to exceed a valuation of US$ 2.5 billion by 2033.
- South Korea market is projected to thrive at 7.7% CAGR through 2033.
- The United Kingdom market is expected to attain a valuation of US$ 0.443 billion by 2033.
Competitive Landscape
These key players concentrate on launching an enhanced and innovative product line of fault current limiters for numerous applications. They also adopt strategies such as collaborations, partnerships, acquisitions, mergers, and alliances to strengthen their market presence.
Key Players in Fault Current Limiters
- ALS Ltd
- American Superconductor Corporation
- Applied Materials, Inc.
- Gridon Ltd
- Rongxin Power Electronic Co., Ltd.
- Siemens AG
- Superconductor Technologies, Inc.
- SuperPower, Inc.
- ABB Limited
- Nexans
Global Fault Current Limiters Market Segmentation
By Type:
- Superconducting Fault Current Limiter (SFCL)
- Non-Superconducting Fault Current Limiter (NSFCL)
By Voltage Range:
- Low
- Medium
- High
By End Use:
- Power Stations
- Automotive
- Oil & Gas
- Steel & Aluminum
- Paper Mills
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/fault-current-limiter-market
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