Pune, April 27, 2021 (GLOBE NEWSWIRE) – The global market for residual current controllers is growing rapidly. The market growth is due to growing concerns about reliable power supplies. In addition, the demand for intelligent and modernized power grid infrastructure creates significant growth opportunities for the residual current limiter industry.
Power outages in industrial automation equipment can affect productivity and profitability plans and cause most equipment-related failures. Therefore, residual current limiters are critical to maintaining proper circuit protection with highly integrated ICs to avoid these failures and improve the uptime of industrial equipment.
Modern residual current limiters show improved reliability for next generation production lines. As a result, the global residual current limiter market is expected to grow significantly in importance in the coming years. According to Market Research Future (MRFR), the global residual current limiters market is projected to reach $ 8.12 billion by 2027 and a CAGR of over 8.16% for the reporting period (2020-2027).
Other factors driving market growth are the constant demand for reliable energy supplies and the greatest concern about disruptive supply conditions in developing countries. Strict regulations and government initiatives around the world are fueling market growth and promoting the adoption of these systems in major end-use industries.
Conversely, the high production and maintenance costs associated with residual current limiters act as the main headwinds for the growth of the market. Nonetheless, future technological advances would support market growth throughout the evaluation period and represent economical manufacturing techniques that can reduce the total cost of sale of these systems.
Get a Free Sample PDF Brochure
https://www.marketresearchfuture.com/sample_request/8287
Residual Current Limiters Market – Segments
The Residual Current Limiters market analysis is segmented into Type, Voltage Range, End Usage, and Regions. The type segment is divided into superconducting and non-superconducting. Of these, the superconducting segment holds the largest market share because of its various advantages including reduced replacement cost and compact size.
The voltage range segment is divided into high, medium and low. Among these, the high voltage segment holds the largest market share and is expected to grow with the highest CAGR during the reporting period.
The end-user segment is divided into power plants, oil and gas, automotive, steel and aluminum, paper mills and chemicals. Of these, the power plant segment holds the largest market share, as the superconducting fault current limiter significantly increases the safety, reliability and availability of electrical systems in power plants.
At the same time, the chemical, power plant and automotive industries are the fastest growing end-user segments in the market for residual current limiters. The region segment is divided into America, Europe, APAC and the rest of the world.
Search the detailed market research report (111 pages) on F.ault current regulator:
https://www.marketresearchfuture.com/reports/fault-current-limiter-market-8287
Global Residual Current Limiters Market – Regional Analysis
The Asia-Pacific region dominates the global residual current limiters market. The greatest market growth can be attributed to the increasing networking of power supply networks in emerging countries. In addition, the rapid expansion of the transmission and distribution systems (T&D) has a positive effect on the growth of the regional market. Countries such as China, Japan and India are developing into significant markets for residual current limiters.
North America has the second largest share of the global residual current limiters market due to the increased energy efficiency and low maintenance costs of these limiters. Additionally, the integrated transformation of digital utilities helps reinvent them by leveraging mobility, analytics and cloud technologies. The North American residual current limiters market is expected to experience a significant CAGR over the forecast period.
Residual Current Limiters Market Competitive Analysis
The market appears to be highly competitive and fragmented, with many large players forming a competitive landscape. Industry players are making significant investments locally and in emerging markets to expand their global footprint as well as their distribution and supply chain networks.
Obtaining strong financial support is the only strategy these players have to maintain their market positions. Device manufacturers strive to minimize production costs through inexpensive techniques.
Main actors:
Player active in the The market for residual current limiters are Siemens (Germany), ABB (Switzerland), Gridon (Israel), Superconductor Technologies Inc. (USA), Superpower Inc. (USA) and Rongxin Power Electronic Co.Ltd. (China), American Superconductor Corporation (USA), Applied Materials (USA), Alstom (France), Nexans (France) and Zenergy Power Electric Co. (USA).
Share your questions
https://www.marketresearchfuture.com/enquiry/8287
Industry / Innovation / Related News:
November 28, 2020 – Qatar General Electricity and Water Corporation (Kahramaa) showcased its energy expertise at the GCC Power 2020 conference organized by GCC CIGRE and presented two working papers on partial discharge noise in online GIS partial discharge monitoring systems.
During the conference, the company also demonstrated techniques for repairing megatransformers on site and the key challenges and solutions in these two areas. In addition, Kahramaa presented a working paper on improving the transition stability of interconnected power systems using a resistive superconducting fault current limiter.
Discover more research reports about Energy and energy industryAccording to future market research
Browse related reports:
Global UPS Battery Market Information Report by battery type (lead-acid, nickel-cadmium, li-ion and others), by company size (small and medium-sized enterprises (SMEs) and large companies), by application (residential, commercial, data center, and industrial ) and by region (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) – forecast to 2027
Global Battery Analyzer Market Information Report, By Type (Stationary & Portable), By Battery Type (Lithium Ion Battery, Nickel Cadmium Battery, And Lead Acid Battery), By End Use Industry (Automotive, IT & Telecom, Healthcare, Aviation & Defense, And Others ) as well as by regions (North America, Europe, Asia-Pacific, Middle East and Africa and South America) and forecasts up to 2027
Global market information report on grid-connected PV systems by components (solar modules, power conditioning unit, grid connection devices, inverters, etc.), by technology (thin film, crystalline silicon and others), by grid type (grid-connected, centralized, and decentralized), by application (residential, commercial, Utilities and Industry) and by Region (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) – Forecast to 2027
Global Gel Battery Market Research Report: Information by Type (2V, 6V, and 12V), (Electromobility, Energy Storage and Distribution, Telecommunications, and Others), and Region (North America, Asia-Pacific, Europe, Middle East and Africa, and South America) – Forecast to 2027
Global Remote Renewable Management Systems Market Research Report: Information By Component (Hardware, Software, Services), End Use (Residential, Wastewater Treatment, Agriculture, Healthcare, Etc), and Region (North America, South America, Europe, Asia-Pacific & Mediterranean, East & Africa) – Forecast to 2027
Global Power Tool Battery Market Research Report: Information by Type (Nickel Cadmium, Nickel Metal Hydride, and Lithium Ion), Tools (Drills, Saws, Lawn Mowers, Impact Wrenches, and Others), Application (Residential, Commercial, and Industrial, and Region) Forecast by 2027
Global Self-Propelled Power Generation Market Research Report: Information By Technology (Heat Exchangers, Turbines, Gas Engines, Transformers, Others), Fuel (Diesel, Gas, Coal, Others), Ownership (Single and Multi-Owned), Connectivity (Off-Grid) and On-Grid) , End use (industrial, commercial, residential) and region (North America, South America, Europe, Asia-Pacific and the Middle East and Africa) – forecast to 2027
Global Wind Turbine Services Market Research Report: Info by Type (Original Equipment Manufacturer (OEM), Independent Service Provider (ISP) and In-house), Application (Onshore and Offshore), and Region (North America, South America, Europe, Asia- Pacific and Middle East & Africa) – Forecast to 2027
Global Solar Encapsulation Market Research Report: Info By Technology (Thin Film Solar Technology, Cadmium Telluride (CDTE), {Copper Indium Gallium Selenide (CIGS) and Amorphous Silicon (A-SI)} and Polycrystalline Silicon), Material (Ethylene Vinyl Acetate), Polydimethylsiloxane, Ionomers, Polyvinyl Butyral and Others (Thermoplastic Polyurethane (TPU) and Polyolefin), End Use (Automotive, Electronics, Construction and Others), and Region (North America, South America, Europe, Asia-Pacific and Middle East and Africa) – Forecast to 2027
Global Fire Protection Channels Market Research Report: Information By Material (Steel, Aluminum, Fiberglass, Polymers, And Others), Shape (Round, Half Round, Rectangular, Triangular And Others), Penetration (Wall, Decks, Floor And Others), Service (Core Drilling, Gaskets, Duct Installation and Others), Application (Public, Commercial, Industrial and Others), and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America) – Forecast to 2027
About the future of market research:
Market Research Future (MRFR) is a global market research firm that prides itself on its services, providing complete and accurate analysis in relation to various markets and consumers worldwide. Market Research Future has the outstanding goal of offering customers optimal research quality and granular research. Our market research studies for products, services, technologies, applications, end users, and market participants for global, regional, and country specific market segments enable our customers to see more, know more, and do more to answer your key questions.
Follow us: LinkedIn | Twitter