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Ground Fault Monitoring Relays Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

Global Ground Fault Monitoring Relays Market: By Type (AC and DC); By Voltage (100–120 V, 220–240 V, and 380–440 V); By Relay Mounting (Panel Mount, Surface Mount, and DIN Rail mount); By Trip Time (Up to 500ms, 500 ms to 1 sec, and Others); By Application (Underground Mining, Communication Towers, Automotive Photovoltaic Cells and Others); By Sales Channel (Direct Distributor, Wholesaler, and Retailer); and By Region—Industry Dynamics, Market Size and Opportunity Analysis and Forecast for 2022–2030

  • Published On: 22-Sep-2022  |  Format: pdfpowerpointexcel  |  Report ID: AA0922302
    Delivery: 2 to 4 Hours

FREQUENTLY ASKED QUESTIONS

It recognizes minute stray voltages on the metal housings of electrical apparatus. As a result, if an unsafe voltage is found, the circuit is shut off.

Growing popularity of modern digital relays and new product launch is the current trend in the market.

Unintentional contact between an electrified conductor and ground or an equipment frame is known as a ground fault.

The global ground fault monitoring relays market is studied from 2017 to 2030. 

The global ground fault monitoring relays market is projected to grow at a CAGR of 7.71% during the forecast period 2022-2030 and is expected to reach US$ 4,002.6 Million. 

Factors such as increasing investment in transmission and distribution networks and rise in the number of electrical faults and adverse impact of these faults boost the market growth.

The photovoltaic panels segment holds the highest CAGR in the global ground fault monitoring relays market during the forecast period.

Asia-Pacific region is growing with the highest CAGR during the forecast period. 

Volatility in raw material prices coupled with the complexity associated with the ground fault monitoring system and lack of awareness resulting in lesser installation.

China holds the major share in terms of revenue in the Asia Pacific ground fault monitoring relay market.

COVID-19 resulted in a sharp decrease in commercial demand for fault monitoring relays following the closure of several commercial activities owing to the strict lockdown in place.

Some of the key players operating in the market are ABB, Bender Inc., Eaton Corp., Schneider Electric, Littlefuse Inc., Seiko Electric, Siemens AG, and Schweitzer Engineering Laboratories Inc. among others.