The latest report on Faulted Circuit Indicators Market by Infinium Global Research gives complete coverage of the Faulted Circuit Indicators Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Faulted Circuit Indicators such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report Shall be Revised to 2020-2026. The Section on the Impact of COVID-19 on this Market is Included in the Report for Free.
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Transmission Lines is the Major Key Drivers that Help in Pouring the Growth of Fault Circuit Indicator Industry
Power distribution networks are susceptible to faults caused by diverse factors such as hostile climatic conditions and equipment failure. For refining the service reliability and avoid prearranged penalties, it is necessary for utilities to rapidly find the location of the fault and consequently, decrease the restoration time. The faulted circuit indicator normally senses the magnetic field produced by the excess flow of the current through a cable or conductor. Further, faulted circuit indicators are devices which designate passage of the fault current. When appropriately installed, they can diminish operating costs and service interruptions by recognizing the failure of the section. These indicators improve safety and lessen equipment damage by dropping the need for risky fault-clearing procedures.
The establishment of new smart grids and installation & rearrangement of transmission lines is the major key drivers that help in pouring the growth of fault circuit indicator market. The increasing usage of faulted circuit indicators in power distribution networks to automatically detect faults and decreasing outage time for the customers leading to the growth of the fault circuit indicator market. Moreover, fault circuit indicators are progressively used to visualize the event of an electric current fault. Furthermore, short-circuit and earth fault indicators will add new lucrative opportunities for this market in the coming years owing to their hybrid properties. On the other hand, network protection systems GFN (Ground Fault Neutralizer) act as a restraining factor for this market.
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The Increasing Usage of Faulted Circuit Indicators in Power Distribution Networks
Additionally, the current concern over the spread of coronavirus is also projected to have a negative impact on the faulted circuit indicators market. The exponential spread of the COVID-19 epidemic across the world has had an adverse impact on the electrical and electronic industry with manufacturing facilities momentarily shut, leading to a substantial slowdown in the production. Moreover, the COVID-19 outbreak could result in disturbance across the ecosystem with numerous supply chain participants shifting their manufacturing facilities to outer China, thereby decreasing their over-reliance in China. Further, lockdowns imposed by the governments in the wake of the coronavirus outbreak has not only affected manufacturing but also hauled consumer demand for electrical devices.
Among the geographies, the Asia Pacific region is expected to hold the largest share in the global faulted circuit indicators market during the forecast period. Further, factors such as an increase in manufacturing and industrial activity in Asian countries such as Vietnam, India and Bangladesh will also boost the demand for power and will augment the demand for electrical equipment like the faulted circuit indicator. Furthermore, the initiatives taken by the government of the United States to modernize the aging electrical infrastructure has accelerator the demand for the fault circuit indicator in the North America region in recent years.
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