The Global Short-Circuit and Earth Fault Indicator Market size is estimated at USD 399 million in 2023. It is anticipated to reach a valuation of USD 698 million by 2032 from USD 425 million in 2024 and is expected to grow with a CAGR of 6.4% during the forecast period 2024-2032.
A short circuit occurs when one or more phases or one or more phases and the ground make an unintentional connection. A scenario in which a link from one phase to the ground arises is known as an earth fault. An earth fault can occur if you have a three-phase system with subterranean cables that include one phase for each cable. If one wire is accidentally dug into, an earth fault may ensue. It might also be a three-phase system with a tree in the overhead lines going too close to one phase. This would be an earth fault as well, albeit a temporary one. A short circuit is an improper connection between two nodes of an electric circuit that should have different voltages.
When the input terminals of a power supply make electrical contact with one another, a short circuit occurs, resulting in a significant current flow. This produces a lot of heat, which can harm the system and put individuals in the surroundings in danger. As a result, short circuits must be identified and corrected as quickly as feasible. The Short Circuit Indicator Project's goal is to identify a short circuit in an automatically connected circuit. When a short-circuit occurs, a magnetic field formed by the current flow in the conductor trips short-circuit indicators, indicating that the device has tripped.
Short-circuit indicators are extensively used in medium voltage distribution networks to locate faults (radially fed, open-ring, or closed-ring networks). They're connected to busbars, wires, or overhead lines that carry current. A trip signal is generated when a fault exceeds the short-circuit indicator's pre-set trip currents, resulting in a visual indication without information on the fault's direction. This signal can also be indicated remotely. If the problematic line section has a single-phase current fault of appropriate magnitude, short-circuit indicators can also be used as earth fault indicators. When low current faults develop, short-circuit indicators with additional summation current transformers are displayed.
The increasing need for energy around the world is a major market driver for the global short-circuit and earth fault indicator market.
The indicator identifies an electrical fault on a grounded system caused by excess current flowing through a conductor that creates a magnetic field and triggers a state change on the mechanical target. Earth fault indicators measure the vector sum of the current in ungrounded systems, and any imbalance denotes a fault in one or more of the three phases.
Some systems have high resistance earthing connections and low phase-to-ground fault currents, necessitating the usage of fault circuit indicators with high sensitivity. Faults in earthing systems, and insulated neutral systems, are difficult to detect with conventional indicators. Increased expansion and formation of new smart grids, industrialization and the installation and rearrangement of transmission lines drive demand for fault circuit indicators. Increasing electric utility demand, increasing energy generation, expanding industrial sectors, and large investments made by some corporations to preserve industrial machinery all contribute to market growth.
Furthermore, as governments increase their infrastructure development investments, short-circuit and earth fault indicators, which are used to detect faults in electrical systems such as cables, transformers, or generators before they cause a major outage or a fire hazard, will see increased demand in the coming years. This is a profitable market expansion potential.
On the other hand, new technologies and installation methods such as underground transmission lines and new network protection systems such as GFN (Ground Fault Neutralizer) may act as a restraint for the Short-Circuit and Earth Fault Indicator Market. Lack of information about the safety of electrical circuits is a major market restriction for the worldwide Short-Circuit and Earth Fault Indicator market. Tariffs and trade restrictions also contribute to the pricing of processed metal products such as the fault indicator market.
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2023 to 2032 |
|
Base Year |
2023 |
|
Forecast Period |
2024 to 2032 |
|
CAGR |
6.4% |
|
Segments Covered |
By Product, Application, and Region. |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
SEL, Cooper Power Systems, ABB (Thomas & Betts), Elektro-Mechanik GMBH, Siemens, Bowden Brothers, Schneider Electric, Franklin (GridSense), CELSA, and Others. |
Earth Faults Indicators, Short-Circuits Indicators, and Short-Circuit and Earth Fault Indicators are the three product segments in the market. Short-circuit and earth fault indicators are expected to see a substantial increase in application due to their hybrid qualities. If the problematic line section has a single-phase current fault of appropriate magnitude, short-circuit indicators can also be used as earth fault indicators. When low current faults develop, short-circuit indicators with additional summation current transformers are displayed.
The market is divided into three categories: station, urban construction, and other. During the anticipated years, the station segment is expected to grow. In addition to typical medium voltage transformers, these short-circuit and earth fault indicator kinds are especially well suited for remote medium voltage transformers or transformer stations/buildings with several transformers.
The market for short-circuit and earth fault indicators is dominated by Asia-Pacific. Increased manufacturing and industrial activity in Asia Pacific countries such as Bangladesh, Vietnam, and India would raise demand for power and electrical equipment such as short-circuit and earth fault circuit indicators.
The US government's commitment to upgrade the country's aging electrical infrastructure has boosted demand for short-circuit and ground fault indicators in recent years.
Similar measures in Europe, Australia, and Canada are expected to raise demand for faulty circuit indicators in the coming years. The deployment of long-distance high-voltage transmission around the world has increased demand for short-circuit and earth fault indicators in order to shorten outage times.
In the foreseeable future, electrification in Latin America, Asia-Pacific, the Middle East, and Africa will increase demand for short-circuit and earth fault indicators. The demand for short-circuit and earth fault indicators has increased as more renewable power generation projects appear in Europe, Asia-Pacific, the Middle East, and Latin America. In Europe, the demand for short-circuit and earth fault indicators is fueled by renewable interconnection and worldwide grid connectivity.
Companies playing a prominent role in the global short-circuit and earth fault indicator market include SEL, Cooper Power Systems, ABB (Thomas & Betts), Elektro-Mechanik GMBH, Siemens, Bowden Brothers, Schneider Electric, Franklin (GridSense), CELSA, and Others.
By Product
By Application
By Region
Frequently Asked Questions
Earth Faults Indicators, Short-Circuits Indicators, and Short-Circuit and Earth Fault Indicators are the three product segments in the market.
The market is divided into three categories on the basis of application: station, urban construction, and others.
SEL, Horstmann and Cooper Power Systems are the three key market players.
The increasing need for energy around the world is a major market driver.
Lack of information about the safety of electrical circuits is a major market restriction for the worldwide Short-Circuit and Earth Fault Indicator market.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region