The Global Insulation Monitoring Devices Market was valued at US$XX billion in 2017 and is projected to expand at a CAGR of XX.XX% over the forecast period to reach US$XX billion by 2023. An insulation monitoring device is used to monitor the insulation resistance of unearthed systems and is installed between the active conductors and earth and superimposes a measuring voltage. The insulation monitoring device provides an early warning of insulation failure by activating an alarm whenever the insulation resistance falls below a set of value. These are required in all IT power supply system according to standards. Increasing fire accidents due to machinery failure is the major factor that many industries are adopting insulation monitoring devices as a safety measure because not only they are capable of detecting deterioration of the insulation level at an early stage but also it ensures continuous operation despite the first fault. With new regulations that mandate the use of insulation monitoring devices for medical equipment in healthcare sector and their increasing utilization in transportation sector, the insulation monitoring device market is expected to grow at an impressive rate over the forecast period.
By voltage, the global insulation monitoring market has been segmented as insulation monitoring device for low volatge, insulation monitoring devices for medium voltage and insulated monitoring device for high voltage. Based on the configuration of the IT system, the insulation monitoring devices are deployed.
By Device Application
By device application, the global insulation monitoring market has been segmented into harsh environment applications, standard environment application, photovoltaic applications and marine applications. Based on the type of industry and environment, IMD devices are deployed. For an instance, HIG 95- Delta is intented for healthcare sector where standard encvironmental conditions prevails.
By End User Industry
By End user industry, the global insulation monitoring market has been segmented into Power utilities, Healthcare, Transport and Mining industries. Power utilities require insulation monitoring devices to monitor power supply for unearthed systems. The healthcare industry has been a prominent consumer of these devices owing to their requirement in operation theatres and intensive care units.
Geographically, the global insulation monitoring devices market has been segmented into North America, Europe, Middle East & Africa, Asia-Pacific and South America region. North America dominates the insulation monitoring market owing to the penalty-based environmental regulations, high awareness of energy conservation and rising adoption of insulation monitoring devices in data centers, healthcare and transportation.
The Global Insulation Monitoring Devices market is competitive owing to the presence of well diversified global and regional players and increasing adoption of insulation monitoring devices across various industries . The global key players are Bender GmbH & Co. KG, Schneider Electric, Mitsubishi Electric Corporation, Littlefuse, Inc., Eaton, ABB, Siemens AG, Viper Innovations Ltd., and Ciprotec, S.L.
The Global Insulation Monitoring Devices market has been analyzed through following segments:
Insulation Monitoring devices for low voltage
Insulation Monitoring devices for medium voltage
Insulation Monitoring devices for high voltage
By Device Application
Harsh Environment Application
Standard Environment Application
By End User Industry
Middle East and Africa
Key insights offered in “Global Insulation Monitoring Market Report: Trends, Forecast and Competitive Analysis”
What will be the Insulation Monitoring Devices market size from 2018 to 2023?
How are the major drivers and restraints affecting the Insulation Monitoring Devices market growth and the opportunities which exist for key vendors?
What are the business risks and threats involved in the global insulation monitoring market?
Which segment of the market and region will drive or lead the market growth and why?
A comprehensive analysis of competitive landscape and key market participants’ behavior
Key strategies being adopted by vendors, with in-depth analysis along with their impact on competition and market growth.
Analysis on growth opportunities in different applications and regions of insulation monitoring devices.
Analysis of competitive intensity of the industry based on Porter’s Five force model.