Market Size of Automotive Fault Circuit Controller Industry
| 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.
