Fault Circuit Indicators Market: Introduction
A fault circuit indicator or fault indicator is a device used to indicate faults detected on a power system or an electric line. This device has finds applications in electric lines, electric power systems and distribution networks to reduce equipment risk, outage time and operating cost. For better output, fault circuit indicators needs to be installed properly on the circuit. The working principle of a fault circuit indicator is that it typically senses the magnetic field sensors produced by the excess flow of current through a cable or conductor. Some indicators also measure the electric field generated by the voltage in the conductor. On a grounded system, when an electrical fault is caused due to surplus current flow through a conductor that induces a magnetic field, the indicator detects the fault and causes a change of state on the mechanical target. Earth fault 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.
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Fault Circuit Indicators Market: Dynamics
Increasing development and establishment of new smart grids, industrialization and installation and rearrangement of transmission lines are some of the factors driving the demand for fault circuit indicators. Additionally, rise in the usage of electric utilities, increasing electricity generation, growing industrial sectors and heavy investments made by some firms to protect industrial machinery pave way for growth of the market.
On the other hand, new technologies and installation methods, such as underground transmission lines and some new network protection systems say GFN (Ground Fault Neutralizer) can act as a restraint for the fault circuit indicators market. On the basis of application, short-circuit and earth fault indicators are expected to grow significantly, owing to their hybrid properties.
Fault Circuit Indicators Market: Segmentation
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Fault Circuit Indicators Market: Regional Outlook
Asia Pacific, followed by North America, holds a major share of the fault circuit indicators market in terms of value. On the other hand, China and the United States together hold around half the market share. The Middle East and Africa, followed by Western Europe, are slated to show significant market growth.
Few countries in Western Europe and Eastern Europe are leaning towards implementation of off-grid power systems, which will surge the demand for fault circuit indicators. Thus, a substantial increment is expected in the market share of these regions. Additionally, the sales of fault circuit indicators is projected to increase considerably in Asia Pacific and Middle East & Africa regions.
Fault Circuit Indicators Market: Key Players
Examples of some of the market participants in the fault circuit indicators market identified across the value chain are TransTechnical Solutions, Power Delivery Products Inc., Dipl.-Ing. H. Horstmann GmbH, PPI Pazifik Power Inc., Hubbell Incorporated, Eaton, Siemens AG, Bowden Bros Ltd., Schneider Electric, Electronsystem MD s.r.l., Elektro-Mechanik GmbH (EMG), Streamer Inc., NORTROLL and ABB.
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