Global Residual Current Monitoring System Market 2018-2022

Below are some of the key findings from the residual current monitoring system market research report

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Global residual current monitoring system industry overview

The power industry’s adoption of the residual current monitoring system to ensure safety is one of the major factors driving market growth. The growing number of high safety-related regulations is compelling various industries to continuously monitor electrical faults. Any small downtime can result in a high monetary loss and incur high power generation cost, while any power interruption can halt many processes and equipment for industries. Residual current monitoring systems are being adopted to overcome these challenges. Residual current monitoring systems monitor the electrical faults, improve electric safety, and increase fire protection. These advantages are further driving the residual current monitoring system market growth.

The adoption of residual current monitoring system in the electric vehicle (EV) charging stations is one of the key upcoming residual current monitoring system market trends. Several companies are developing compact charging stations with features like LED facility, RFID facility, and GSM communication modules. While these features make EVs easy to use, they make them more prone to risk related to current fluctuations. Subsequently, there is growing adoption of residual current monitoring systems in the charging station. The residual current monitoring system market forecast report predicts that fueled by these factors, the market will grow at a CAGR of almost 5% during the forecast period.

Top residual current monitoring system companies covered in this market research report

The residual current monitoring system market is moderately concentrated with the majority of the market share resting with the key players. As the market continues to grow during the forecast period, several vendors are expected to compete for the market share, making the market fragmented. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this residual current monitoring system industry analysis report is designed to aid clients to identify new growth opportunities and make informed business decisions.

The report offers a complete analysis of various companies including:

• ABB
• Bender
• Janitza electronics
• PHOENIX CONTACT
• Schneider Electric
• Siemens

Residual current monitoring system market segmentation based on geographic regions

• Americas
• APAC
• EMEA

Global residual current monitoring system market analysis reveals that the APAC region will lead the market share until 2022. APAC will also account for the highest market growth throughout the forecast period.

Residual current monitoring system market segmentation based on end users

• Power
• Automotive
• Metals and mining
• Others

The power segment will lead the residual current monitoring system market share during the forecast period. With the growth in both conventional and renewable power sources, the power segment will also account for the highest residual current monitoring system market growth. Additionally, the report will also provide an accurate prediction of the contribution of the various end-user segments to the growth of the residual current monitoring system market size.

Key highlights of the global residual current monitoring system market for the forecast years 2018-2022:

• CAGR of the market during the forecast period 2018-2022
• Detailed information on factors that will accelerate the growth of the residual current monitoring system market during the next five years
• Precise estimation of the global residual current monitoring system market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• Growth of the residual current monitoring system industry across the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details on the factors that will challenge the growth of the residual current monitoring system companies

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