PUBLISHER: KBV Research | PRODUCT CODE: 1534580
PUBLISHER: KBV Research | PRODUCT CODE: 1534580
North America Insulation Monitoring Systems Market Size, Share & Trends Analysis Report By Type, By Vertical (Power Utilities, Mining, Manufacturing & Production, Transportation, Healthcare, and Others), By Country and Growth Forecast, 2024 - 2031
The North America Insulation Monitoring Systems Market would witness market growth of 4.4% CAGR during the forecast period (2024-2031).
The US market dominated the North America Insulation Monitoring Systems Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $266.6 million by 2031. The Canada market is experiencing a CAGR of 6.7% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 5.8% during (2024 - 2031).
These systems are specialized devices and technologies designed to continuously monitor the electrical insulation in ungrounded power supply systems. In order to prevent potential hazards such as electrical shocks, apparatus failures, and fires, these systems are crucial for the safety and reliability of electrical installations, as they detect insulation defects at an early stage. This market has emerged as a crucial segment within the broader electrical safety and reliability industry.
The importance of these systems cannot be overstated, particularly in industries where electrical reliability is paramount, such as healthcare, transportation, manufacturing, and renewable energy. As the demand for uninterrupted power supply and advanced safety mechanisms grows, the market is witnessing significant expansion, driven by technological advancements, stringent regulatory standards, and the increasing complexity of modern electrical infrastructures.
The emphasis on advanced manufacturing technologies, automation, and infrastructure modernization in the United States, Canada, and Mexico drives the demand for reliable and efficient electrical systems. Government initiatives and substantial investments in these sectors further bolster the adoption of insulation monitoring solutions. Initiatives such as the Manufacturing USA program have enhanced the competitiveness of the U.S. manufacturing sector by utilizing advanced manufacturing technologies. Manufacturing accounted for 11.4% of the total U.S. GDP in 2022, as measured in chained 2012 dollars, with a contribution of $2.3 trillion to the U.S. GDP, according to the National Institute of Standards and Technology (NIST). In order to prevent electrical failures and guarantee operational efficiency, manufacturing facilities must use dependable these systems as a result of the implementation of automation and Industry 4.0 practices. Substantial investments are also being made in Canada's transportation sector, particularly in rail and public transit infrastructure. According to Infrastructure Canada, the Canadian government has committed CAD 14.9 billion to public transit projects over the next eight years. This funding aims to improve and expand public transit systems nationwide, requiring reliable electrical systems supported by advanced insulation monitoring technologies to ensure safe and uninterrupted service. Therefore, as the region invests in technological advancements and infrastructure projects, this market is poised for sustained growth and innovation.
Based on Type, the market is segmented into 1 Phase Insulation Monitoring Device, 3 Phase Insulation Monitoring Device, and DC Insulation Monitoring Device. Based on Vertical, the market is segmented into Power Utilities, Mining, Manufacturing & Production, Transportation, Healthcare, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- ABB Group
- Omron Corporation
- Schneider Electric SE
- HELLA GmbH & Co. KGaA
- Sensata Technologies Holdings PLC
- Texas Instruments, Inc.
- Eaton Corporation plc
- SOCOMEC Group S.A.
- Legrand S.A. (Legrand Group)
- HAKEL spol. s r.o.
North America Insulation Monitoring Systems Market Report Segmentation
By Type
- 1 Phase Insulation Monitoring Device
- 3 Phase Insulation Monitoring Device
- DC Insulation Monitoring Device
By Vertical
- Power Utilities
- Mining
- Manufacturing & Production
- Transportation
- Healthcare
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Insulation Monitoring Systems Market, by Type
- 1.4.2 North America Insulation Monitoring Systems Market, by Vertical
- 1.4.3 North America Insulation Monitoring Systems Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key Highlights
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.1.1 Overview
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
- 4.1 Market Share Analysis, 2023
- 4.2 Strategies Deployed in Insulation Monitoring Systems Market.
- 4.3 Porter Five Forces Analysis
Chapter 5. North America Insulation Monitoring Systems Market by Type
- 5.1 North America 1 Phase Insulation Monitoring Device Market by Country
- 5.2 North America 3 Phase Insulation Monitoring Device Market by Country
- 5.3 North America DC Insulation Monitoring Device Market by Country
Chapter 6. North America Insulation Monitoring Systems Market by Vertical
- 6.1 North America Power Utilities Market by Country
- 6.2 North America Mining Market by Country
- 6.3 North America Manufacturing & Production Market by Country
- 6.4 North America Transportation Market by Country
- 6.5 North America Healthcare Market by Country
- 6.6 North America Others Market by Country
Chapter 7. North America Insulation Monitoring Systems Market by Country
- 7.1 US Insulation Monitoring Systems Market
- 7.1.1 US Insulation Monitoring Systems Market by Type
- 7.1.2 US Insulation Monitoring Systems Market by Vertical
- 7.2 Canada Insulation Monitoring Systems Market
- 7.2.1 Canada Insulation Monitoring Systems Market by Type
- 7.2.2 Canada Insulation Monitoring Systems Market by Vertical
- 7.3 Mexico Insulation Monitoring Systems Market
- 7.3.1 Mexico Insulation Monitoring Systems Market by Type
- 7.3.2 Mexico Insulation Monitoring Systems Market by Vertical
- 7.4 Rest of North America Insulation Monitoring Systems Market
- 7.4.1 Rest of North America Insulation Monitoring Systems Market by Type
- 7.4.2 Rest of North America Insulation Monitoring Systems Market by Vertical
Chapter 8. Company Profiles
- 8.1 ABB Group
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Segmental and Regional Analysis
- 8.1.4 Research & Development Expense
- 8.1.5 SWOT Analysis
- 8.2 Omron Corporation
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.3 Segmental and Regional Analysis
- 8.2.4 Research & Development Expenses
- 8.2.5 Recent strategies and developments:
- 8.2.5.1 Product Launches and Product Expansions:
- 8.2.6 SWOT Analysis
- 8.3 Schneider Electric SE
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expense
- 8.3.5 Recent strategies and developments:
- 8.3.5.1 Partnerships, Collaborations, and Agreements:
- 8.3.5.2 Product Launches and Product Expansions:
- 8.3.6 SWOT Analysis
- 8.4 HELLA GmbH & Co. KGaA (FORVIA S.E.)
- 8.4.1 Company Overview
- 8.4.2 Financial Analysis
- 8.4.3 Segmental and Regional Analysis
- 8.4.4 Research & Development Expenses
- 8.4.5 SWOT Analysis
- 8.5 Sensata Technologies Holdings PLC
- 8.5.1 Company Overview
- 8.5.2 Financial Analysis
- 8.5.3 Segmental and Regional Analysis
- 8.5.4 Research & Development Expense
- 8.5.5 Recent strategies and developments:
- 8.5.5.1 Product Launches and Product Expansions:
- 8.5.6 SWOT Analysis
- 8.6 Texas Instruments, Inc.
- 8.6.1 Company Overview
- 8.6.2 Financial Analysis
- 8.6.3 Segmental and Regional Analysis
- 8.6.4 Research & Development Expense
- 8.6.5 Recent strategies and developments:
- 8.6.5.1 Product Launches and Product Expansions:
- 8.6.6 SWOT Analysis
- 8.7 Legrand S.A. (Legrand Group)
- 8.7.1 Company Overview
- 8.7.2 Financial Analysis
- 8.7.3 Segmental and Regional Analysis
- 8.7.4 Research & Development Expense
- 8.7.5 SWOT Analysis
- 8.8 Eaton Corporation PLC
- 8.8.1 Company Overview
- 8.8.2 Financial Analysis
- 8.8.3 Segmental and Regional Analysis
- 8.8.4 Research & Development Expense
- 8.8.5 SWOT Analysis
- 8.9 SOCOMEC Group S.A.
- 8.9.1 Company Overview
- 8.10. HAKEL spol. s r.o.
- 8.10.1 Company Overview
LIST OF TABLES
- TABLE 1 North America Insulation Monitoring Systems Market, 2020 - 2023, USD Million
- TABLE 2 North America Insulation Monitoring Systems Market, 2024 - 2031, USD Million
- TABLE 3 North America Insulation Monitoring Systems Market by Type, 2020 - 2023, USD Million
- TABLE 4 North America Insulation Monitoring Systems Market by Type, 2024 - 2031, USD Million
- TABLE 5 North America 1 Phase Insulation Monitoring Device Market by Country, 2020 - 2023, USD Million
- TABLE 6 North America 1 Phase Insulation Monitoring Device Market by Country, 2024 - 2031, USD Million
- TABLE 7 North America 3 Phase Insulation Monitoring Device Market by Country, 2020 - 2023, USD Million
- TABLE 8 North America 3 Phase Insulation Monitoring Device Market by Country, 2024 - 2031, USD Million
- TABLE 9 North America DC Insulation Monitoring Device Market by Country, 2020 - 2023, USD Million
- TABLE 10 North America DC Insulation Monitoring Device Market by Country, 2024 - 2031, USD Million
- TABLE 11 North America Insulation Monitoring Systems Market by Vertical, 2020 - 2023, USD Million
- TABLE 12 North America Insulation Monitoring Systems Market by Vertical, 2024 - 2031, USD Million
- TABLE 13 North America Power Utilities Market by Country, 2020 - 2023, USD Million
- TABLE 14 North America Power Utilities Market by Country, 2024 - 2031, USD Million
- TABLE 15 North America Mining Market by Country, 2020 - 2023, USD Million
- TABLE 16 North America Mining Market by Country, 2024 - 2031, USD Million
- TABLE 17 North America Manufacturing & Production Market by Country, 2020 - 2023, USD Million
- TABLE 18 North America Manufacturing & Production Market by Country, 2024 - 2031, USD Million
- TABLE 19 North America Transportation Market by Country, 2020 - 2023, USD Million
- TABLE 20 North America Transportation Market by Country, 2024 - 2031, USD Million
- TABLE 21 North America Healthcare Market by Country, 2020 - 2023, USD Million
- TABLE 22 North America Healthcare Market by Country, 2024 - 2031, USD Million
- TABLE 23 North America Others Market by Country, 2020 - 2023, USD Million
- TABLE 24 North America Others Market by Country, 2024 - 2031, USD Million
- TABLE 25 North America Insulation Monitoring Systems Market by Country, 2020 - 2023, USD Million
- TABLE 26 North America Insulation Monitoring Systems Market by Country, 2024 - 2031, USD Million
- TABLE 27 US Insulation Monitoring Systems Market, 2020 - 2023, USD Million
- TABLE 28 US Insulation Monitoring Systems Market, 2024 - 2031, USD Million
- TABLE 29 US Insulation Monitoring Systems Market by Type, 2020 - 2023, USD Million
- TABLE 30 US Insulation Monitoring Systems Market by Type, 2024 - 2031, USD Million
- TABLE 31 US Insulation Monitoring Systems Market by Vertical, 2020 - 2023, USD Million
- TABLE 32 US Insulation Monitoring Systems Market by Vertical, 2024 - 2031, USD Million
- TABLE 33 Canada Insulation Monitoring Systems Market, 2020 - 2023, USD Million
- TABLE 34 Canada Insulation Monitoring Systems Market, 2024 - 2031, USD Million
- TABLE 35 Canada Insulation Monitoring Systems Market by Type, 2020 - 2023, USD Million
- TABLE 36 Canada Insulation Monitoring Systems Market by Type, 2024 - 2031, USD Million
- TABLE 37 Canada Insulation Monitoring Systems Market by Vertical, 2020 - 2023, USD Million
- TABLE 38 Canada Insulation Monitoring Systems Market by Vertical, 2024 - 2031, USD Million
- TABLE 39 Mexico Insulation Monitoring Systems Market, 2020 - 2023, USD Million
- TABLE 40 Mexico Insulation Monitoring Systems Market, 2024 - 2031, USD Million
- TABLE 41 Mexico Insulation Monitoring Systems Market by Type, 2020 - 2023, USD Million
- TABLE 42 Mexico Insulation Monitoring Systems Market by Type, 2024 - 2031, USD Million
- TABLE 43 Mexico Insulation Monitoring Systems Market by Vertical, 2020 - 2023, USD Million
- TABLE 44 Mexico Insulation Monitoring Systems Market by Vertical, 2024 - 2031, USD Million
- TABLE 45 Rest of North America Insulation Monitoring Systems Market, 2020 - 2023, USD Million
- TABLE 46 Rest of North America Insulation Monitoring Systems Market, 2024 - 2031, USD Million
- TABLE 47 Rest of North America Insulation Monitoring Systems Market by Type, 2020 - 2023, USD Million
- TABLE 48 Rest of North America Insulation Monitoring Systems Market by Type, 2024 - 2031, USD Million
- TABLE 49 Rest of North America Insulation Monitoring Systems Market by Vertical, 2020 - 2023, USD Million
- TABLE 50 Rest of North America Insulation Monitoring Systems Market by Vertical, 2024 - 2031, USD Million
- TABLE 51 Key Information - ABB Group
- TABLE 52 Key Information - Omron Corporation
- TABLE 53 Key Information - Schneider Electric SE
- TABLE 54 key information - HELLA GmbH & Co. KGaA
- TABLE 55 Key Information - Sensata Technologies Holdings PLC
- TABLE 56 Key Information - Texas Instruments, Inc.
- TABLE 57 key Information - Legrand S.A.
- TABLE 58 Key Information - Eaton Corporation PLC
- TABLE 59 Key Information - SOCOMEC Group S.A.
- TABLE 60 Key Information - HAKEL spol. s r.o.
