Global Insulation Monitoring Devices Market 2017-2021

Key findings from the insulation monitoring devices market analysis  

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Overview of the global insulation monitoring devices market

Technavio’s global insulation monitoring devices market analysis identifies that the increase in demand for renewable energies will be one of the major factors that will have a positive impact on the growth of the market. The market research analysts at Technavio predict that this market will grow at a CAGR of nearly 5% by 2021. The low costs involved with the generation of renewable energy, the rising awareness towards climate change, and the shift towards decarbonization has increased the preference towards renewable sources of energy. European countries are increasingly shifting their focus towards renewable energy and the Asian countries are also making huge investments in the renewable sector. Moreover, the power generation sector is largely dominated by solar and wind energies and also experiences high changes of insulation resistance due to changes in solar radiation and wind flow. This makes it extremely important to keep a track of the insulation level as they are subjected to vary from few kilo-ohms to 100 kilo-ohm. This, in turn, increases the insulation resistance monitoring devices demand for offering the security of supply, better reliability, and efficiency of the system fueling the growth of the insulation monitoring devices market.

The incorporation of new features in insulation monitoring devices is one of the latest insulation monitoring devices market trends that will gain traction in the market. Vendors are including innovative features in insulation monitoring devices for the better convenience of customers. For instance, one of the vendors, Bender introduced insulation monitoring devices with a high-resolution display that indicates changes in insulation values over a graph. This helps in approximating an insulation value that helps in timely action. These new features equipped by vendors for enhancing the design features, measuring techniques, and increasing the reliability will result in the demand for insulation monitoring devices.

Competitive landscape and key vendors  

The insulation monitoring devices manufacturers are offering the addition of innovative features in insulation monitoring devices such as LEDs, high-resolution display panels, and push in terminals for easy installation. Additionally, these vendors are also providing new insulation monitoring devices in sectors such as solar power generation and electric vehicles. The level of competition in the insulation monitors market has intensified due to the entry of small players.

The leading vendors in the market are –

• ABB
• Eaton
• Littelfuse
• Mitsubishi Electric
• Schneider Electric

The other prominent vendors in the market are Bender GmbH & Co. KG, Cirprotec, E. Dold & Söhne KG, Hakel, Martens (GHM Messtechnik GmbH), Megacon, Ppo elektroniikka, Siemens, MUUNTOSÄHKÖ OY – TRAFOX, and Viper innovations.

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Segmentation by end-user and analysis of the insulation monitoring devices market

• Power utilities
• Healthcare
• Transportation
• Mining

During 2016, the power utilities segment accounted for the highest insulation monitoring devices market share. Factors such as the rise in the adoption of renewable sources of energy such as solar and wind power and the rising investments in renewable energy will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the insulation monitoring devices market

• Americas
• APAC
• EMEA

This insulation monitoring devices market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the insulation monitors market throughout the forecast period. The increasing adoption of insulation monitoring devices in healthcare, transportation, and data centers and the rising popularity of electric and autonomous vehicles, will drive the growth of the insulation monitoring devices market in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global insulation monitoring devices market?
• What are the key market trends impacting the growth of the global insulation monitoring devices market?
• What are the challenges to market growth?
• Who are the key vendors in the global insulation monitoring devices market?
• What are the market opportunities and threats faced by the vendors in the global insulation monitoring devices market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global insulation monitoring devices market?

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