Technavio Announces the Publication of its Research Report – Global Insulation Monitoring Devices Market 2017-2021

Technavio recognizes the following companies as the key players in the global insulation monitoring devices market: ABB, Eaton, Littelfuse, Mitsubishi Electric, and Schneider Electric.

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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Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increase in use of low voltage DC power systems. A significant increase in DC power systems has led to an increment in devices that run on DC systems such as solar microgrids, electric vehicles, LED devices, storage batteries, and data centers. Besides providing high reliability and efficiency, DC power systems have gained prominence due to their natural interface with renewables. Solar photovoltaic modules and wind mills generate DC power that must be converted into AC power for use.

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According to the report, one driver in the market is growth of renewable energy in power generation mix. Decrease in cost of generation of renewables, awareness toward climate change, and shift toward decarbonization has increased the demand for renewable sources of energy. European countries have already shifted their focus toward renewables, and now Asia has also increased investments in the renewable sector. Solar and wind power dominate power generation portfolio for renewables. Both solar and wind power are subjected to a high variance of insulation resistance due to changes in solar radiation and wind flow.

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Further, the report states that one challenge in the market is slow growth in the mining industry. Global investments in mining have decreased owing to awareness about the environment and shift toward clean fuels. Countries are increasingly adopting gas-based fuels in place of coal. The majority of European nations have already decreased the share of coal in energy basket and aim to be 100% renewable by 2020. High pollution level has forced the US to increase renewables in the energy basket. The mining industry is one of the major contributors to the global insulation monitoring device market.

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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.