The global market for Insulation Monitoring Devices is estimated to reach a market value of USD 896.09 million by 2023 growing at a 6.84% CAGR during the forecast period 2018–2023.
Insulation monitoring devices industry are used for constantly monitoring insulation resistance of unearthed IT power supply systems. These insulation monitoring devices continuously monitor the positive and negative values of insulation power supply sytsems and trigger alarm when the insulation resistance falls below the threshold limit preventing further damage to the elecrical network. Insulation monitoring devices helps in detection of deterioration of the insulation levels enabling planned maintenance and in detection of fault location. Insulation monitoring devices are largely deployed for IT power supply systems for civil engineering, hospitals, mining and metullargy, railways, and ship building. The biggest advantage of utilizing insulation monitoring devices in IT power supply systems is that these devices facilitates operational continuity during ground or earth faults also known as first faults. Grounding electrical power systems prevents unwanted electric current to flow through human operators causing causing injury or death and gradually damaging the equipment. Insulation monitoring devices provider greater effeciency to enterprises with the help of trip and alarm thresholds features that triggers alarm in case of signal being undershoot or overshoot of the treshold limit. With these devices the system engineers are able to prevent any service interruption by managing faults beforhand. Some of the advanced insulation monitirong devices allow the engineers to test and reset the threshold unit remotely. Moreover, insulation devices are in high demand in wide range of IT power systems offering protection in photovoltiac installations, data centers, industrial installations and other applications. With real-time and constant monitoring of the IT power systems, enterprises are able to reduce maintainance and overhead costs fuelling the market growth. Furthermore, government regulations to deploy insiulation monitoring devices in IT systems for ensuring the safety of people also drives the market growth globally.
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The prominent players in the market of Global Insulation Monitoring Devices are – ABB (Switzerland), Eaton (Ireland), Bender (Germany), Schneider Electric (France), Mitsubishi Electric (Japan), Siemens (Germany), Littelfuse (US), Hakel al. s.r.o. (Czech Republic), Viper Innovations (UK), Cirprotec (Spain), E. Dold & Sohne (Germany), Captech (Australia) and Renesas Electronics Corporation (Japan).
The other market players include Martens (GHM Group), Lemvigh-Muller (Denmark), Megacon (Norway), Deif A/S (Denmark) and Wei Dian Union(Hubei) Technology Co.,Ltd (China).
The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.
Insulation Monitoring Devices Market Segmentation
By mounting, the market is segmented into din rail, screw mounting, and panel mounting.
By response time, the market is segmented into <5sec, 5sec – 7sec, and >7sec.
By vertical, the market is segmented into power utilities, manufacturing, mining, healthcare, transportation, and others.
Insulation Monitoring Devices Market Regional analysis
The global market for global Insulation Monitoring Devices is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of user activity monitoring market is studied for North America, Europe, Asia-Pacific, and the rest of the world.
At present, North America holds the largest market share owing to the presence of large number of manufacturing plants and mining industries in countries namely US, Canada and Mexico. With increasing automation in US and Canada in industrial sector the adoption of insulation monitoring devices is growing boosting the market growth in this region. Europe region accounts for the second largest market share owning to growing adoption of insulation monitoring devices in countries such as Germany, France and the UK. Asia-Pacific region accounts for third largest market share and is expected to attain the highest growth due to growing demand of insulation monitoring devices in key markets such as China, Japan, India, Australia and South Korea. The Middle East and Africa region is expected to achieve a substantial growth with growing investments in renewable energy utilization in power utilities.
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Global insulation monitoring device providers
Raw material suppliers
IT power supply providers
Government and regulatory bodies
Research institutes and organizations
Insulation Monitoring Devices distributors
Electrical solutions providers
Automation system providers
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