Superconducting Fault Current Limiter Market - Rise in Demand for Updated Power Grids Driving Growth

Fault current limiters (FCLs) have the potential to significantly improve power system stress in locations where fault current levels are expected to rise beyond the permissible range of surviving circuit breakers. Today’s superconducting materials can meet the performance necessities of power system machineries.

As a result, a major portion of FCL designs use superconducting materials to complete the limiting action. Superconducting fault current limiter (SFCL) technologies continue to make progress toward commercialization.

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Power utilities worldwide deal with the issue of growing levels of fault current resulting from several occurrences which leads to higher adoption of SFCL limiters. The market is projected to expand at a CAGR of 8.2% during the forecast period and reach US$ 6,120.4 Mn by 2026.

Due to increase in power demand and concerns regarding power supply, it is inevitable that distributed generation (DG) will experience higher market adoption in electric power distribution and transmission systems in the coming years. With a high diffusion of DG, a high-level fault current may be caused during an emergency, which would have a negative effect on the complete power grid including the linked DGs.

SFCL can be implemented to prevent distributed generating sources from blackout in smart grid systems, because this fault current may be higher than the rating of existing protective devices. Frequent failure in power systems has increased the demand for these applications, thereby offering multiple opportunities to the global SFCL market.

The global superconducting fault current limiter market has been broadly segmented in terms of type and end-use industry. By type, the shielded core SFCL segment is consistently expected to witness the highest market share between 2018 and 2026. Growing urbanization which is resulting in the growth of power distribution & transmission networks as well as commercial buildings, is the major factor responsible for its high share. Moreover, growing demand for efficient power supply is another factor accounting for its dominance throughout the forecast period.

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