20-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Fault Indicators Market By Product Type (Overhead Line Fault Indicators, Cable Fault Indicators, Underground Fault Indicators, and Others), and By Application (Construction and Mining Industry, Automobiles, Equipment Manufacturing Industry, Military, and Aerospace, Chemical and Pharmaceutical Industry, Power Industry and Others): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026” states that the global Fault Indicators Market in 2019 is approximately USD 155.96 Mn and volume 2069.43 thousand Units. The market is expected to grow at a CAGR of 2.9% and is anticipated to reach around USD 184.91Mn and a volume of 2435.82 thousand units by 2026.
The devices that indicate a fault during current passage in a circuit are fault indicators. The primary function of the device is to enhance safety by indicating circuit faults. Power distribution networks, electric networks, and others are some of the major application areas of fault indicators. These indicators are considered cost-effective and reliable solutions for earth faults in a power supply network. In an open ring electric system, the damaged line can be immediately disconnected once the fault is detected. This system helps to cut on additional damage or repair costs of the complete power supply network. The device is designed such that once the power supply reaches a value higher than the trip value, the damage indication lights up.
Browse the full “Fault Indicators Market By Product Type (Overhead Line Fault Indicators, Cable Fault Indicators, Underground Fault Indicators, and Others), and By Application (Construction and Mining Industry, Automobiles, Equipment Manufacturing Industry, Military, and Aerospace, Chemical and Pharmaceutical Industry, Power Industry and Others): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026" https://www.fnfresearch.com/fault-indicators-market-by-product-type-overhead-line-860
One of the primary driving forces for the upsurge of the fault indicators market is the rising demand for electricity globally. An increase in electricity consumption in industries such as construction, energy & power, transportation, and others is expected to lead to the growth fault indicators market. In addition, the growth of smart grids has also increased the demand for fault indicators across various industry verticals. Industries adopting smart meters, smart energy distribution solutions, and others are projected to propel the growth of the fault indicators market over the time period.
Furthermore, companies operating in the Fault Indicators market are focused on introducing innovative and advanced lab Automation Work cell products to reach a wide network of customers. Additionally, enhanced fault Indicators are compatible with critical research and experiments that provide accurate results in minimum time.
By product type, the market is divided into Overhead Line Fault Indicators, Cable Fault Indicators, Underground Fault Indicators, and Others. The underground Fault Indicators segment is expected to contribute to the highest market share of 33.4% in 2019 owing to its unique feature of indicating underground short circuits. Furthermore, the market is classified on the basis of application into, Construction and Mining Industry, Automobiles, Equipment Manufacturing Industry, Military and Aerospace, Chemical and Pharmaceutical Industry, Power Industry, and Others. The application segment accounted for USD 18.82Mn in the year 2019. The equipment Manufacturing Industry is expected to lead the application category owing to the growing need for safe electricity and power supply for the manufacturing process.
Geographically, the global Fault Indicators Market was dominated by the Asia Pacific by generating revenues worth USD 65.11Mn in 2019. This dominance is majorly attributed to increasing manufacturing companies across emerging countries such as China and India. Furthermore, Europe is set to contribute to the second-highest growing region with a CAGR of 2.50% over the forecast period.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 155.96 Mn |
Projected Market Size in 2026 |
USD 184.91 Mn |
CAGR Growth Rate |
2.9% CAGR |
Base Year |
2019 |
Forecast Years |
2019-2026 |
Key Market Players |
Dipl. Ing. H. Horstmann GmbH, SEL, Cooper Power Systems (Acquired by Eaton), Megacon, Suparule Systems Ltd., Elektro-Mechanik GMBH, Siemens, Bowden Bros Ltd, ABB Group, Schneider Electric, Nortroll AS, CelsaMessgeräte GmbH, ELECTRONSYSTEM MD srl, Littelfuse, Streamer Electric, Franklin Electric Grid Solution, Beijing HCRT Electrical Equipment, Creative Distribution Automation Co., Ltd. (CREAT) , Sentient Energy, Inc., Tollgrade Communications, Inc.and others. |
Key Segment |
By product type, By Application, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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There are several key players operating in the Fault Indicators Market around the globe some of them include Dipl. Ing. H. Horstmann GmbH, SEL, Cooper Power Systems (Acquired by Eaton), Megacon, Suparule Systems Ltd., Elektro-Mechanik GMBH, Siemens, Bowden Bros Ltd, ABB Group, Schneider Electric, Nortroll AS, CelsaMessgeräte GmbH, ELECTRONSYSTEM MD srl, Littelfuse, Streamer Electric, Franklin Electric Grid Solution, Beijing HCRT Electrical Equipment, Creative Distribution Automation Co., Ltd. (CREAT) , Sentient Energy, Inc., Tollgrade Communications, Inc.and others.
The taxonomy of the Fault Indicators industry by its scope and segmentation is as follows:
Global Fault Indicators Market: By product type segmentation Analysis
- Overhead Line Fault Indicators
- Cable Fault Indicators
- Underground Fault Indicators
- Others
Global Fault Indicators Market: By ApplicationSegmentation Analysis
- Construction and Mining Industry
- Automobiles
- Equipment Manufacturing Industry
- Military and Aerospace
- Chemical and Pharmaceutical Industry
- Power Industry
- Others
Global Fault Indicators Market: Regional Segment Analysis
- North America
- The U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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