The
global residual
current monitoring system market is expected to display higher growth
rate over the next five years. Rapid surge in the market is credited to the
rising demand from power generation sector. Stringent implementation of
different regulatory compliances by regional authorities is expected to force
industries to adopt current monitoring system. Globally, market is predicted to
generate massive revenue over next five years, providing numerous opportunities
for industry participants to invest in research and development of residual
current monitoring system market.
Rising
number of safety-related regulations is expected to compel businesses to
constantly monitor electrical faults, thereby driving market growth. Increasing
adoption of residual current monitoring system limits downtime during power
transmission processes. Use of residual current monitoring system also results
in decreased monetary loss and reduction in power generation cost. In addition,
adoption of residual current monitoring system diminishes power interruption,
which can cause malfunction of equipment.
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Growing
adoption of residual current monitoring system not only limits the electrical
faults but also enhances the maintenance procedure. Residual current monitoring
system is critical for safety and fire protection. Residual current monitors
are also adopted to limit fault currents or residual currents in earthed
systems such as TN and TT systems. Residual current monitoring systems sends to
operator even before attaining the shutdown threshold of the residual-current
device. Residual current monitoring systems is highly reliable for detecting
deteriorations of the insulation level at an initial stage.
The
residual current monitoring system market is broadly categorized into three
major segments based on the application type such as power generation sector,
mining industry and automotive sector. Power generation segment is growing
rapidly in the market with substantial revenue generation in the last few
years. Growing popularity of residual current monitoring system in power
generation segment is attributed to the limiting downtime and reducing of fault
occurrence.
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Market Segment:
The following manufacturers are covered
in this report:
•
ABB
•
Bender
•
Janitza electronics
•
PHOENIX CONTACT
•
Schneider Electric
•
Siemens
Residual Current Monitoring System
Breakdown Data by Type
•
Single-Channel
•
Multi-Channel
Residual Current Monitoring System
Breakdown Data by Application
•
Power
•
Automotive
•
Metals
•
Mining
•
Others
Residual Current Monitoring System
Production by Region
•
United States
•
Europe
•
China
•
Japan
•
Other Regions
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