The global insulation monitoring devices market is likely to witness high growth in the forthcoming years, observes Transparency Market Research (TMR). Key players in market are offering technologically advanced products and are investing in research and development activities. For example, Bender GmbH & Co. KG launched a new variant of insulation monitoring devices named ISOMETER isoHR685W-D-I-B. The device is designed to monitor cables and provide enhanced insulation resistance capability reaching up to 10 GΩ.
Leading players are also engaged in using various organic and inorganic business development strategies to get a stronger hold in the global insulation monitoring devices market. For instance, Schneider Electric collaborated with Larsen and Toubro Ltd. d acquired L&T’s electrical and automation businesses. Later the company integrated it with its low-voltage that includes insulation monitoring devices such as industrial automation products. With this collaboration, Schneider Electric will be expanding its market in India.
Some of the other prominenet players operating in the global insulation monitoring devices market are ABB, Bender GmbH & Co. KG, Schneider Electric, Viper Innovations Ltd, HAKEL LTD, and Littelfuse, Inc. With increasing efforts made by the players and increasing emphasis of advanced technologies, the global insulation monitoring devices market is expected to rise at 5.42% CAGR over the projected tenure between 2019 and 2027. The market valuation is also expected to grow significantly and reach US$1.13 bn by the end of 2027. In 2017, the market earned US$0.67 bn.
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The global insulation monitoring devices market is segmented based on:
- With Display
- Without Display
- DC Voltage
- AMP (Patented by Bender)
- Low-frequency AC Voltage
- With Coupling Device
- Without Coupling Device
- Mechanical & Plant Engineering
- Oil & Gas
- Ships &Ports
- Renewable Energy
- Mobile Power Generation
- Public Power Supply Networks
- Data Centers
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