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2021
Insulation Monitoring Equipment Market

Insulation Monitoring Equipment Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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Dec 2021 | 286 Views
   
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COVID-19

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An insulation monitoring equipment monitors the insulation resistance of an ungrounded system between an active phase conductor and earth. Insulation monitoring equipment are designed to give an alarm or disconnect the power supply in case the insulation resistance drops below a certain threshold, which is usually set at 50 kΩ. Ungrounded or unearthed systems are used in mines, airports, hospitals, railways and military applications where continuous power supply is required. Insulation monitoring equipment are widely used in such applications as uninterruptible power supply is a must to avoid risk to human life. The IT industry requires insulation monitoring equipment monitors to prevent loss of data due to fluctuations in power supply. Renewable energy power plants also employ insulation monitoring equipment monitors. The response time of an insulation monitoring equipment is an important parameter to be considered according to its area of application. High risk associated with applications such as power supply and mining sectors require a faster response from the system in case of an insulation fault. 

­Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD Millions)

  Segments covered

Response time, Mounting position, Mounting support, Auxiliary connection terminal, Industry Verticals and Region.

  Regions covered

North America (U.S., Mexico and Canada), Europe (Germany, UK, Netherlands, Italy and France), Asia-Pacific (China, Japan, South Korea, Sri Lanka and India), LAMEA (Latin America, Middle East, and Africa)

  Companies covered

The key players in the insulation monitoring equipment market include ABB, Littelfuse, Schneider Electric, Bender GmbH & Co. KG, Eaton, Mitsubishi Electric, Siemens, Viper Innovations, Cirprotec, and E. Dold & Sohne among others.

 

COVID-19 scenario analysis:

  • COVID-19 pandemic has shut-down the production of various products in the global insulation monitoring equipment industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of the global insulation monitoring equipment market significantly from last few months, as is likely to continue during 2020.
  • COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
  • The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
  • Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, Opportunities, Restraints and Impact Analysis

The adoption of insulation monitoring equipment is very important to ensure uninterrupted operation of electronic medical devices in the global healthcare sector. The global mining industry also employs insulation monitoring equipment to ensure safety of operations. Detection of explosive gases is crucial to the safety of operations in the global mining industry. Explosions of gases inside mines lead to massive disasters and the deaths of a large number of workers. Hence, the use of protective equipment and safety measures & protocols are very important to the global mining industry and detection of insulation faults is crucial. The risk of data loss due to power supply fluctuations in IT systems and heightened demand of insulation monitoring equipment in renewable energy power sector are also important drivers for the growth of the global insulation monitoring equipment. The major restraining factor of the global insulation monitoring equipment market is the high initial investment required to set up these devices. The opportunity for growth comes from the increasing application of insulation monitoring equipment in the ever-expanding global IT industry.

The global insulation monitoring equipment market trends are as follows:

Rising importance of PAT testing across various industries

The global IT industry is enormous in its reach and application. The global economy as a whole and jobs in all industries are becoming more digital and more automated. Continuous innovation and research have helped the growth of information technology to such extents that it has effectively changed the way people do basic activities in their daily lives. The growth of cloud computing and artificial intelligence is expected to help the global IT industry grow and thus create more demand for insulation monitoring equipment. Advancement in technology has led to the growing adoption of hybrid-cloud and multi-cloud solutions as can be seen with the rising success of Amazon Web Services (AWS), Microsoft Azure, and Google Cloud platforms. The rising implementation of Internet of Things (IoT), combined with the development of artificial

intelligence tools provides another avenue for the continued expansion of the global IT industry. 

Wind turbines

Insulation monitoring equipment are important equipment used in the wind turbines. The growth of the global wind power market has is expected to help the global insulation monitoring equipment market grow. Wind turbines are a clean source of renewable energy that do not produce atmospheric emissions. Generation of wind energy does not cause pollution like thermal power plants that rely on combustion of fossil fuels. The combustion of fossil fuels like coal or natural gas, result in emission of particulate matter and poisonous gases like nitrogen oxide and sulphur dioxide which can cause health problems and environmental problems like acid rain, smog, greenhouse gases. For generation of power, wind turbines convert kinetic energy to electric energy. Over the recent past, wind energy has become more popular and important due to the factors such as no greenhouse gas emission as awareness regarding global warming and climate change grows. Wind energy is highly economical and efficient and wind power projects require short lead time for planning & construction. The importance of wind energy is growing globally as currently it contributes to 5% of the global electricity demand. However, frequent fluctuations in insulation resistance is common in the wind turbine industry because of the changes in wind flow. Therefore, proper monitoring of insulation resistance is very important to wind turbine plants. Hence with growth of the global wind turbine market, the global insulation monitoring equipment market is also expected to expand.

Key segments covered:

Segments

Sub-segments

  Response Time

  • Response time <= 4sec
  • 4sec < Response time < 7sec
  • Response time > 7sec

  Mounting Position

  • Vertical
  • Horizontal

  Mounting Support

  • Cubical
  • Enclosure
  • Plate
  • DIN Rail
  • Panel

Auxiliary Connection Terminal

  • Removable Screw Terminal
  • Tunnel Type Terminal

 

  Industry verticals

 

  • Electronics
  • Power Plant
  • Telecommunications
  • Semiconductor
  • Aerospace and Defense
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global insulation monitoring equipment market industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global insulation monitoring equipment market share.
  • The current market is quantitatively analyzed from 2019 to 2027 to highlight the global insulation monitoring equipment market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global insulation monitoring equipment market analysis based on competitive intensity and how the competition will take shape in coming years. 
 
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