Leakage Current Clamp Meter Market Size, Share, Opportunities, And Trends By Leakage Type (AC Leakage, DC Leakage), By End-User (Construction, Electrical & Electronics, Medical & Healthcare, Automotive, Others), And By Geography - Forecasts From 2023 To 2028

The leakage current clamp meter is the most commonly used leakage current measuring device. They measure load currents similarly to clamp meters but provide significantly better results when measuring currents less than 5mA. In general, clamp meters would not detect such low currents. The leakage current clamp meter measures the two types of leakage the AC and DC. The key end-user industries driving the market of leakage current clamp meters are construction, electrical & electronics, medical & healthcare, automotive, and others, demonstrating that growth will take place year over year for the forecasted period.

The rising usage in construction will boost the market for leakage current clamp meters

The construction sector is a major end-user of leakage current clamp meters. This market's expansion is due to an increase in testing for current loads while the construction in different sectors takes place, including automobile facilities, medical buildings, and others. They are used to manage and help the electricians when installing electrical equipment in the construction sites like electric fittings and wirings, carrying out final circuit checks, and troubleshooting and rectifying issues. According to the U.S. Census Bureau, In January 2023, Total Construction spending is expected to be $1,825.7 billion on a seasonally adjusted annual basis and is 5.7% higher than the January 2022 estimate of $1,726.6 billion. The use of a current clamp meter can aid in reducing the risk of high voltage current accidents and overloads which can damage the whole electric supply system and also can hurt people and property. Rising safety consciousness in construction and increasing construction investments are contributing to boosting the growth of the leakage current clamp meter market.

Rising demand in the automotive sector bolstering market growth

Leakage current clamps meters are frequently used for monitoring and quality control to ensure that current is flowing at the correct magnitude in the automotive sector. They are used for motor testing to determine the primary current as well as phase and waveform information to determine power efficiency. Leakage current clamps meters are used when it is suspected or known that current is flowing but cannot easily disconnect or access the conductor. The electric vehicles can also be tested in a variety of environments using leakage current clamps meters as a major testing tool. As the production of motor vehicles and electric vehicles in the industry will increase the demand for leakage current clamp meters will also increase. According to the OICA data, the total motor vehicle production has increased from 80 205 102 units in 2021 to 85 016 728 units in 2022, which has shown a rise of 6% in production. According to the IEA, roughly 11.3 million battery electric cars were sold globally in 2021, more than twice as many as were sold in 2020. As a consequence of the increased production of high-end motor vehicles and electric vehicle sales with enhanced testing technology and sensor meter automation, the usage of leakage current clamp meters will also increase and which will boost the market growth.

During the forecast period, the Asia-Pacific region is expected to boost the market growth

Throughout the projection period, the Asia-Pacific region is anticipated to see growth in the leakage current clamp meter market. The market is expanding as a result of the government’s initiatives in the Asia-Pacific region actively encouraging the use of leakage current clamp meters in industrial and commercial construction for better testing of current leakages to reach extreme levels of assurance for safety while construction. The expansion of leakage current clamp meter in the area is anticipated to be fuelled by several government flagship initiatives, for example in India the Housing for Everyone, Atal Mission for Urban Rejuvenation and Transformation (AMRUT), Make in India, and Electricity for All. In June 2021, India considered financial incentives of up to 500 billion rupees ($6.8 billion) to improve healthcare infrastructure through the construction of new medical facilities and hospital buildings, this construction in India will require leakage current clamp meters for current testing while the infrastructure developments. In 2021, According to Infrastructure Australia, an estimated $290 billion will be invested over the next ten years, with the amount nearly tripling over the next three years in residential, civil, and commercial buildings, it will have a tremendous infrastructural expenditure, which can lead to the demand of leakage current clamp meter in buildings and industries for the testing and safety purpose which will propel for the leakage current clamp meter market growth.

Market Key Developments.

• In November 2020, Hioki launched the CM4002 and CM4003 AC leakage clamp meters, which simplify current leakage investigations and provide high-precision, high-reliability leakage current measurement capability.

Leakage Current Clamp Meter Market Scope:

Segmentation

• By Leakage Type
  • AC Leakage
  • DC Leakage
• By End-user
  • Construction
  • Electrical & Electronics
  • Medical & Healthcare
  • Automotive
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    •  Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Suadi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Others