Global Fault Location, Isolation, and Service Restoration
Market: Overview
Improving
the overall reliability of the grid is an essential objective of the electric
power industry. A dependable grid can reduce customer inconvenience arising
from power disruptions, lost productivity, and economic losses. To help
accomplish these goals, several utilities across the globe are adopting fault
location, isolation, and service restoration (FLISR) technologies and systems.
Fault
location, isolation, and service restoration technologies are distribution
automation (DA) tools that reroute power to reduce the number of customers
affected by power supply faults, power outages, and other disturbances. FLISR
systems automatically isolate the fault zone and restore services to remaining
consumers by transferring them to adjacent circuits. In addition to reducing
the number and duration of power outages for consumers, FLISR technologies help
power supply companies improve their reliability index and provide them greater
visibility into the trouble zones. This allows crews to track and repair the affected
areas more quickly, resulting in shorter outages.
This
report on the global fault location, isolation, and service restoration market
outlines the present state of the market and gives a forward-looking
perspective of the market’s growth prospects over the period between 2016 and
2024. The report gives a thorough overview of the major forces that are
influencing the market’s development and shall have a major impact on its
growth over the forecast period.
Global
Fault Location, Isolation, and Service Restoration Market: Trends and
Opportunities
Many
governments are making vast capital investments to develop smart grids by
either upgrading or replacing aging power supply infrastructure. Moreover, the
emergence and rising adoption of new technologies, such as energy production
from renewable sources, distributed generation, and electric vehicles, are also
placing increased pressures on the already stressed conventional power supply
infrastructure. Consumers have also started demanding enhanced quality of power
supply from power distribution companies. These factors have collectively led
to the increased adoption of FLISR systems in the power distribution industry
over the past few years.
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Over
the report’s forecast period, the rising adoption of partially or fully
electric vehicles as a cleaner and more cost-effective means of transportation
will emerge as a major growth opportunity for the global FLISR market.
The key
components of a typical FLISR system include line monitors, automated feeder
switches and reclosers, supervisory control and data acquisition (SCADA)
systems, communication networks, grid analytics, outage management systems
(OMS), data processing tools, and distribution management systems (DMS).
Global
Fault Location, Isolation, and Service Restoration Market: Region-wise Outlook
From a
geographical standpoint, the global fault location, isolation, and service
restoration market has been analyzed for Europe, Asia Pacific, North America,
and Rest of the World. Of these, developed regions such as North America and
Europe are currently the largest regional markets for a variety of FLISR
systems. The availability of large private and government funds and presence of
several regulations mandating a certain percentage of the overall energy mix be
derived from clean/renewable energy sources are the major propellers of the
FLISR market in these regions.
According
to a report published by the U.S. Department of Energy (DOE) about the American
Recovery and Reinvestment Act of 2009, the U.S. DOE, in association with the
electricity industry, had invested funds of nearly US$ 7.9 Bn in 99 cost-shared
Smart Grid Investment Grant projects. The funds were invested for modernizing
the grid, strengthening cybersecurity, collecting data on smart grid and
consumer operations, and improving interoperability. This significantly
accelerated the application of FLISR technologies and systems in the country
and helped the global FLISR market grow. Over the forecast period as well, the
goal of improving grid reliability will drive the global FLISR market in
developed regions.
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