Global Insulation Monitoring Devices Market (IMD) size was valued at US$ 556 Mn in 2017 and is expected to reach US$ 1025 Mn by 2026 to exhibit a CAGR of 7.95 % during the forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global insulation monitoring devices market (IMD) dynamics, structure by identifying and analyzing the market segments and project the global Market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global insulation monitoring devices market (IMD) .
The insulation monitoring devices are the electrical apparatus that helps in monitoring the ungrounded systems among active phase conductor and earth. The device helps to disconnect or offer an alert the power while the resistance drops below the set value. Certain producers of monitors for these systems are capable of handling Variable Frequency Drives (VFDs) but most are not due to concerns with the DC-portions of the VFDs.
The increasing demand for the insulation monitoring device to prevent the loss due to the fluctuations in power supply is the key factor driving the growth of the global insulation monitoring device market. Increased demand for insulation monitoring devices from renewable energy power plants, the necessity of electrical in IT systems, and high rate of industrialization and rapid urbanization in emerging markets are also fueling the growth of this market.
The key factor which is limiting the growth of the global insulation monitoring device market is the requirement of huge initial investments. However, the major challenges to the growth of the global insulation monitoring device market are lack of skills and expertise and overpowering the disposition of large its systems. The opportunities are expected to generate for this market because of the high growth of industry 4.0, enlarged adoption of the devices in healthcare and data centers.
In recent years, the response time segment has experienced strong growth. This can be attributed to the growth of the response time of the insulation monitoring devices in various applications such as manufacturing and production, mining, and transportation. The response time of the insulation monitoring devices relies on the system-related interference disturbances, system leakage capacitance, and insulation resistance. The growth of the 4 seconds reaction time segment is expected to increase during the forecast period. The reason behind the growth of this segment is the insulation monitoring device required very less response time to enable the operation because the applications of IMDs need a fast response.
According to the global market analysis, the market of Asia Pacific have the largest presence of the manufacturing companies and also expected to hold the largest share of the global market during the forecast period. The growth of the insulation monitoring devices market of Asia Pacific is attributed by the factors such as increasing adoption of the latest devices and technologies, power utilities in the economies like China, India, and Japan have shown substantial growth, and China, being the main country in power utility, is anticipated to witness high growth in the global insulation monitoring devices market. Also, North America is expected to hold the major share of this market in the upcoming years followed by Europe.
Scope of the Global Insulation Monitoring devices market (IMD)
Global Insulation Monitoring devices market (IMD) , by Response Time
• Mounting/Installation Types of IMD
o Din Rail
o Screw Mounting
o Panel Mounting
• Reaction Time
o Equal to 4 Second
o Less than 7 Second
o Greater than7 Second
Global Insulation Monitoring devices market (IMD) , by Application
• Power Utilities
• Manufacturing and Production
Global Insulation Monitoring devices market (IMD) , by Region
• North America
• Middle East & Africa
• South America
Key Players operating in the Global Insulation Monitoring devices market (IMD)
• Schneider Electric
• Mitsubishi Electric
• Viper Innovations
• Wei Dian Union Technology Co., Ltd
• Deif A/S
• Renesas Electronics
• E. Dold & Sohne
• Martens (GHM Group)
• Muuntosahko Oy
• Ppo-Elektroniikka OY
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