Automotive Fault Circuit Controller Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 8.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Fault Circuit Controller Market Analysis
The automotive fault circuit controller market is expected to register a CAGR of over 8% during the forecasted period (2020 - 2025)
- High fuel costs and strict regulations on emissions have forced OEMs to generate lighter and energy-efficient vehicle systems. Thereby, the mechanical and hydraulic systems are replaced with electrical systems, causing the amount of electrical power carried by the vehicle's Electrical Wire & Interconnect System (EWIS) to almost double. With the increase in electrical systems, the supply voltages can range from 12 to 20 V, depending on the battery charge state. Thereby, the growing intermeshing of power systems is increasing the likelihood that the switchboards will be subjected to unacceptably high short-circuit currents. Reliable and economic protection against these surge currents is provided by the fault current limiter and this is expected to help the market grow during the forecasted period.
- The Fault circuit controller controls the amount of current flowing and thereby providing uninterrupted operation of the systems in automobiles. OEMs are continuously investing into R&D to develop improvised superconductors to suit the technology advancements in the power network of automobiles. Electrical cars are projected to register a CAGR of over 21% during the forecasted period, with favourable government policies and support in terms of subsidies and grants, taxes rebates, and other benefits is expected to help this market grow at an exponential rate during the forecasted period.
Automotive Fault Circuit Controller Market Trends
This section covers the major market trends shaping the Automotive Fault Circuit Controller Market according to our research experts:
Increasing Electronic Components in Automobiles
Safety and security systems such as adaptive cruise control, ant-theft alarm system, lane departure warning, keyless entry, braking systems, and autonomous driving systems help in avoiding fatal accidents as well as provide greater security. Such advanced features are integrated within vehicle using considerable number of electronic components. Further growing awareness regarding eco-friendly mobility has plunged sales of electric vehicles, thereby driving demand for automotive connectors. It is anticipated that over 150 hybrid electric vehicle models are going to be launched during the forecasted period, which creates an immense opportunity for manufacturers of connectors. Regulations also play an important role in shaping the market. The proposed ban on internal combustion engine (ICE) vehicles in different countries led to increasing adoption of electric vehicle. For example, Norway has set 2025 as the target year for ban on ICE vehicles. China has announced ban by 2030. This amplifies the scope of vehicle electrification, thereby increasing the demand for fault circuit controllers market during the forecasted period. Passenger safety is of the utmost importance to the government as well as the companies. Governments all over the world are also focusing on reducing accidents by mandating the use of advanced automobile safety systems such as ABS, airbag systems, warning systems and many more which also is contributing to the fault circuit controller market growth.
United States Is Expected To Lead the Market
The United States continues to be the leader in terms of car volume sales, sold over 4.7 million units in 2019. Different markets have different demands; The United States of America is the leading manufacturer of electric automobiles and safety components. Investment in R&D by OEMs to develop efficient and low-cost systems has helped this market grow. An increase in production standards of manufacturing, sustainable innovation, and excellent technical know-how based in the country will help to strengthen the position of the United States of America to emerge as a leading automotive whiplash protection systems during the forecast period. Going forward, OEMs must be active in achieving the commitment or face the possibility of brand erosion due to being behind in safety advances. Electronic stability systems being incorporated into government safety ratings may alter consumer perception one way or another. However, this was not the case before the pledge as automakers put different levels of importance to systems. With the rise in demand for electric vehicles in the country, the demand for automotive fault circuit controllers is expected to increase in the coming years. With technological advancements the manufacturers are expected to see raise in demand for car exports which intern will increase demand for fault circuit controller. The automobile industry is highly dependent on the Environment Protection Agency (EPA) regulations, owing to the high emissions of the automotive units. The move by the EPA to raise the miles per gallons (mpg) standards to 54.5 mpg by 2025, is helping the market, as the automotive industry concluded that the only way to get to those mileage standards is by manufacturing lightweight vehicles.
Over the past five years, owing to the low production costs in the country, the demand for vehicle production went up drastically. The automotive industry in the United States experienced a sharp drop in demand in March 2020, vehicle sales went down by 38% year-on-year due to impact from COVID-19 pandemic. However, with several initiatives taken by the country to boost the automotive industry, passenger car sales are expected to increase over the forecast period, which, in turn, is expected to drive the demand for automotive fault circuit controllers in the country.
Automotive Fault Circuit Controller Industry Overview
The Automotive fault circuit controller market is not highly consolidated. Key player in this market are ABB limited, Siemens AG, Alstom, GE industrial, and Superpower Inc. Industry participants are expected to expect intensive competition owing to aggressive strategies, including acquisitions, pricing, merges, and new product development.
Automotive Fault Circuit Controller Market Leaders
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ABB Group
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AMSC
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Nexans
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SuperPower-inc.
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Gridon
*Disclaimer: Major Players sorted in no particular order
Automotive Fault Circuit Controller Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porters Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 Superconducting Devices
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5.1.2 Non- Superconducting Devices
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5.1.3 Others
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5.2 Voltage
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5.2.1 High Voltage
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5.2.2 Medium Voltage
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5.2.3 Low Voltage
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5.3 Vehicle Type
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5.3.1 ICE Vehicle
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5.3.2 Electric Vehicle
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5.4 Geography
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5.4.1 North America
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5.4.1.1 United States
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5.4.1.2 Canada
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5.4.1.3 Rest of North America
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5.4.2 Europe
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5.4.2.1 Germany
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5.4.2.2 United Kingdom
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5.4.2.3 France
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5.4.2.4 Italy
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5.4.2.5 Rest of Europe
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5.4.3 Asia Pacific
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5.4.3.1 India
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5.4.3.2 China
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5.4.3.3 Japan
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5.4.3.4 South Korea
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5.4.3.5 Rest of Asia-Pacific
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5.4.4 Rest of the World
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5.4.4.1 Brazil
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5.4.4.2 Mexico
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5.4.4.3 South Africa
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5.4.4.4 Other Countries
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6. COMPETITIVE LANDSCAPE
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6.1 Vendor Market Share
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6.2 Company Profiles
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6.2.1 ABB Limited
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6.2.2 Siemens AG
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6.2.3 Alstom
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6.2.4 Nexans
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6.2.5 AMSC
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6.2.6 American Superconductor Corporation
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6.2.7 Applied Materials
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6.2.8 Gridon
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6.2.9 Superpower Inc.
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6.2.10 Superconductor Technologies Inc.
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6.2.11 Rongxin Power Electronic Co. Ltd.
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6.2.12 GE Industrial
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Automotive Fault Circuit Controller Industry Segmentation
The Automotive fault circuit controller market report contains the latest trends and technological developments in the market, demand by Device Type, Voltage, Vehicle Type, Geography, and share of major players across the market.
| Type | |
| Superconducting Devices | |
| Non- Superconducting Devices | |
| Others |
| Voltage | |
| High Voltage | |
| Medium Voltage | |
| Low Voltage |
| Vehicle Type | |
| ICE Vehicle | |
| Electric Vehicle |
| Geography | |||||||
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Automotive Fault Circuit Controller Market Research FAQs
What is the current Automotive Fault Circuit Controller Market size?
The Automotive Fault Circuit Controller Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)
Who are the key players in Automotive Fault Circuit Controller Market?
ABB Group, AMSC , Nexans, SuperPower-inc. and Gridon are the major companies operating in the Automotive Fault Circuit Controller Market.
Which is the fastest growing region in Automotive Fault Circuit Controller Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Automotive Fault Circuit Controller Market?
In 2024, the North America accounts for the largest market share in Automotive Fault Circuit Controller Market.
What years does this Automotive Fault Circuit Controller Market cover?
The report covers the Automotive Fault Circuit Controller Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Fault Circuit Controller Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Automotive Fault Circuit Controller Industry Report
Statistics for the 2024 Automotive Fault Circuit Controller market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Fault Circuit Controller analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
