Fault passage indicators (FPIs) market is anticipated to grow at a significant CAGR of 12.4% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as increasing demand for quick response and restoration of power networks, regulatory push for grid modernization and energy efficiency, growing focus on reducing power outages and system downtime, and rising awareness about reducing maintenance costs for utilities. According to the International Energy Agency, in July 2024, Global electricity demand is forecast to grow by around 4.0% in 2024, up from 2.5% in 2023
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The growth of the fault passage indicators (FPI) market is driven by their integration with smart grid technologies. Smart grid technologies enhance the ability of utility companies to detect and isolate faults in real-time, thereby improving the reliability and efficiency of power distribution systems. Smart grids facilitate advanced communication and automation, enabling FPIs to provide critical data that aids in swift decision-making during outages. Additionally, the deployment of smart grid infrastructure supports predictive maintenance strategies, reducing downtime and operational costs. As utilities increasingly adopt digital solutions to enhance grid resilience, the demand for FPIs is expected to rise. The regulatory initiatives promoting energy efficiency and sustainability further bolster market growth. The integration of FPIs with smart grid technologies represents a pivotal advancement in modernizing electrical networks.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Fault Passage Indicators Market by Product Type
- Overhead Line Fault Passage Indicators
- Underground Fault Passage Indicators
- Panel Fault Passage Indicators
- Others (Specialized or Hybrid Fault Passage Indicators)
Global Fault Passage Indicators Market by Voltage Level
- Low Voltage (LV) Fault Passage Indicators
- Medium Voltage (MV) Fault Passage Indicators
- High Voltage (HV) Fault Passage Indicators
Global Fault Passage Indicators Market by End-User
- Utilities
- Industrial
- Commercial
- Residential
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- ATRIY ELECTRONIC APPLIANCES TRADING LLC.
- C&S Electric Ltd.
- CAHORS Group
- EFACEC Power Solutions
- Elektro-Mechanik EM GmbH
- ELVAC a.s.
- Ensto Oy
- Float Power Systems & Controls
- Horstmann GmbH
- HV Power Measurements and Protection Ltd.
- Kries-Energietechnik GmbH & Co. KG
- NARI Group Corp.
- ROMIND
- Schweitzer Engineering Laboratories, Inc.
- Southern States, LLC
- Streamer Inc.
- Tesmec S.p.A.
- Texas Instruments Inc.
- TransNet NZ Ltd.
- Xiamen Andaxing Electric Group Co., Ltd.
- ZIV Aplicaciones y Tecnología, S.L.U
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global fault passage indicators market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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