Superconducting Fault Current Limiter Market Innovations & Competitive Analysis – Forecast

According to a new market report on the superconducting fault current limiter market, published by Transparency Market Research, the global superconducting fault current limiter (SFCL) market is expected to reach US$ 6,120.4 Mn by 2026, expanding at a CAGR of 8.2 % from 2018 to 2026. According to the report, the global market will continue to be influenced by a range of macroeconomic and industry-specific factors. Asia Pacific will continue to be at the forefront of global demand, with the market in the region growing at a CAGR of 9.4% through 2026.

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Growing need for reliable & efficient power supply is driving the global superconducting fault current limiter market

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.