A recent report published by Infinium Global Research on faulted circuit indicators market provides an in-depth analysis of segments and sub-segments in the global as well as regional faulted circuit indicators market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional faulted circuit indicators market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of global faulted circuit indicators market. According to the report, the global faulted circuit indicators market is projected to grow at a healthy CAGR over the forecast period of 2019-2025.
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.
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.
The report on the global faulted circuit indicators market covers segments such as type, and application. On the basis of type, the sub-markets include cable fault indicator, overhead line fault indicator, and panel fault indicator. On the basis of application, the sub-markets include short circuit indicator, earth fault indicator, and short circuit and earth fault indicator.
The report provides profiles of the companies in the market such as Streamer Inc., Power Delivery Products, Inc., Sun Electric, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of faulted circuit indicators market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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