$745+ Million Insulation Monitoring Devices Market - Global Forecast to 2023
DUBLIN, Dec. 17, 2018 /PRNewswire/ --
The "Insulation Monitoring Devices Market by Response Time, Application (Power Utilities, Manufacturing and Production, Mining, Healthcare, Transportation), and Geography (North America, Europe, Asia Pacific, Rest of the World) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The insulation monitoring devices market was valued at USD 543.7 million in 2017 and is expected to reach USD 747.8 million by 2023, at a CAGR of 5.25% from 2018 to 2023.
The deployment of insulation monitoring devices has rapidly increased due to their use in power utilities and manufacturing and production applications. These devices are connected between the live supply conductors and earth, and they superimpose voltage. The major applications of the insulation monitoring devices include manufacturing plants, power utilities, mining industry, heavy industries, photovoltaic systems, control and safety circuits, automation systems, traction systems, DC applications, and healthcare among others.
The advantages of using insulation monitoring devices are driving its use in the IT power supply systems. Moreover, these devices ensure the operational continuity in case of first fault. These devices also ensure a higher safety of operations by providing the overview of network status and enabling continuous monitoring of the insulation level to earth.
The response time of most of the insulation monitoring devices is less than 4 seconds, which makes them an attractive solution for the power utility and manufacturing industries; therefore, the demand for these devices is high in the power utility and manufacturing applications. The insulation monitoring devices continuously monitor the insulation resistance of the unearthed systems (IT systems) and trigger an alarm if the value of the insulation resistance falls below a response value.
Europe is the leading region in terms of market size due to the high adoption of insulation monitoring devices in countries such as Germany, the UK, and France. The high adoption of insulation monitoring devices in Europe is attributed to a large number of manufacturing facilities and government regulations for the use of monitoring devices in this region. The market in APAC is expected to grow at the highest CAGR during the forecast period, with China leading the way.
Key Topics Covered:
1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Insulation Monitoring Devices Market, 2018-2023 (USD Million)
4.2 Insulation Monitoring Devices Market in APAC
4.3 Developed vs Developing Markets for Insulation Monitoring Devices, 2018 and 2023 (USD Million)
4.4 Geographic Analysis: Insulation Monitoring Devices Market
4.5 Insulation Monitoring Devices Market, By Application (USD Million)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics: Insulation Monitoring Devices Market
5.2.1 Drivers
5.2.1.1 Prevention of Data Loss Due to Power Supply Fluctuations
5.2.1.2 Necessity of Electricals in It Systems
5.2.1.3 Increased Demand for Insulation Monitoring Devices From Renewable Energy Power Plants
5.2.2 Restraints
5.2.2.1 High Initial Investment Requirements
5.2.3 Opportunities
5.2.3.1 Increased Use of Insulation Monitoring Devices in Data Centers
5.2.3.2 Increasing Adoption of Insulation Monitoring Devices in Healthcare Sector
5.2.3.3 High Growth of Industry 4.0
5.2.4 Challenges
5.2.4.1 Overcoming the Deployment of Large It Systems
5.2.4.2 Lack of Skills and Expertise
5.3 Value Chain Analysis
6 Insulation Monitoring Devices Market, By Response Time
6.1 Introduction
6.2 Mounting/Installation Types of Insulation Monitoring Devices
6.2.1 Din Rail
6.2.2 Screw Mounting
6.2.3 Panel Mounting
6.3 Response Time
6.3.1 =4 Second
6.3.2 6.3.3 >7 Second
7 Insulation Monitoring Devices Market, By Application
7.1 Introduction
7.2 Power Utilities
7.2.1 Growth in Renewable Generation and Distributed Resources is Major Driver for Implementation of Insulation Monitoring Devices in Power Utilities.
7.3 Manufacturing and Production
7.3.1 Avoiding Downtime Due to Insulation Faults is Major Driver for Growth of Insulation Monitoring Devices in Manufacturing and Production
7.4 Healthcare
7.4.1 Use of Insulation Monitoring Devices in ICU and Operation Theatre are Major Growth Opportunities
7.5 Mining
7.5.1 Utmost Care Required in Mining Process is Key Factor for Growth of Insulation Monitoring Devices
7.6 Transportation
7.6.1 Increased Use of Insulation Monitoring in Electric Vehicles, Airways, Railways, Marine, and Autonomous Vehicles Likely to Drive Market Growth for Transportation Application
8 Geographic Analysis of Insulation Monitoring Devices Market
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 Strong Presence of Mining and Power Utilities Industry in US Likely to Drive Market
8.2.2 Canada and Mexico
8.2.2.1 Increasing Investment in Cutting-Edge Technologies Expected to Fuel Growth of Insulation Monitoring Devices in Canada and Mexico
8.3 Europe
8.3.1 Germany
8.3.1.1 Continued Innovation and High Adoption in Power Utilities and Manufacturing & Production Expected to Drive Market in Germany
8.3.2 France
8.3.2.1 Focus on R&D to Develop Technological Capabilities Would Propel Insulation Monitoring Devices Market Growth in France
8.3.3 UK
8.3.3.1 Continuous Focus on Digitalization and Enhancing Automation Likely to Drive Growth of Insulation Monitoring Devices Market in UK
8.3.4 Rest of Europe
8.3.4.1 Spain, Italy, Poland, Finland, Sweden, Belgium, the Netherlands, Switzerland, and Austria are Major Contributors to Insulation Monitoring Devices Market in Rest of Europe
8.4 APAC
8.4.1 China
8.4.1.1 High Investment in Power Utilities Likely to Drive Growth of Insulation Monitoring Devices Market in China
8.4.2 Japan
8.4.2.1 High Growth of Healthcare Sector in Japan to Fuel Growth of Insulation Monitoring Devices Market
8.4.3 South Korea
8.4.3.1 Digital Revolution in Industrial Manufacturing Sector in South Korea Would Encourage Adoption of Insulation Monitoring Devices
8.4.4 Rest of APAC
8.4.4.1 Countries Such as India, Singapore, Taiwan, and Australia to Drive Growth of Market in Rest of APAC
8.5 RoW
8.5.1 Middle East and Africa
8.5.1.1 Oil & Gas and Mining to Fuel Growth of Insulation Monitoring Devices in Middle East and Africa
8.5.2 South America
8.5.2.1 Increased Demand in Advanced Manufacturing and Healthcare to Boost Growth of Insulation Monitoring Devices in South America
9 Competitive Landscape
9.1 Introduction
9.2 Ranking of Insulation Monitoring Devices Market Players, 2017
9.2.1 Product Launch
9.2.2 Acquisition
9.2.3 Expansion and Recognition
9.2.4 Contract
10 Company Profiles
10.1 Introduction
10.2 Key Players
- ABB
- Bender
- Captech
- Cirprotec
- Deif A/S
- E. Dold & Sohne
- Eaton
- Hakel
- Lemvigh-Muller
- Littelfuse
- Martens (GHM Group)
- Megacon
- Mitsubishi Electric
- Muuntosahko Oy
- Ppo-Elektroniikka OY
- Renesas Electronics
- Schneider Electric
- Siemens
- Viper Innovations
- Wei Dian Union(Hubei) Technology Co.,Ltd
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