About Earth Leakage Protection
Earth leakage arises because of a partial or full breakdown of insulation of supply material such as wire and the ground. It causes electric shocks during the usage of electric equipment. Earth leakage protection is a technology which works by monitoring the current flowing through the conductors. If the current becomes unbalanced between active and neutral, it indicates some current is flowing elsewhere and that a short circuit and current leakage is present. The device shuts off the power very quickly to prevent the danger of an electric shock. Earth leakage accidents can cause disasters, leading to human life and/or property loss. Earth leakage protection circuits an important role in preventing such accidents. Increasing awareness about the availability and usage of earth leakage protection circuits is propelling the growth of the global earth leakage protection market in the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The ELP market is expected to experience continued growth driven by factors like increased urbanization, electrification, and rising awareness of electrical safety. Manufacturers who leverage innovation, cater to diverse needs, and adapt to regional dynamics are poised to capture market share and thrive in this competitive landscape. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Earth Leakage Protection market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB (Switzerland), Schneider Electric (France), Honeywell (United States), Siemens AG (Germany), Eaton Corporation (Ireland), Legrand (France), Fuji Electric (Japan), Mitsubishi Electric Corporation (Japan), Hitachi Industrial Equipment Systems Co., Ltd (Japan), Broyce Control (United Kingdom), DAQRI (United States) and Littelfuse Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Beckwith Electric Co. Inc. (United States), ZIV Inc. (Spain), ERL Phase Power Technologies Ltd. (Canada), Schweitzer Engineering Laboratories (United States) and NR Electric Co., Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Earth Leakage Protection market by Type (Residual Current Device (RCD), Ground Fault Circuit Interrupter (GFCI), Combined Earth Leakage Circuit Breaker (ELCB) and Others), Application (Residential, Commercial, Industrial, Medical and Agriculture) and Region.
On the basis of geography, the market of Earth Leakage Protection has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Verticals, the sub-segment i.e. Oil & Gas will boost the Earth Leakage Protection market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Voltage, the sub-segment i.e. Low Voltage will boost the Earth Leakage Protection market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Adoption of Automation
Market Growth Drivers:
Increasing Demand for Electric Power across the Globe and The upswing in Power and Infrastructure Projects in Emerging Regions
Challenges:
Fluctuating Raw Material Prices
Restraints:
Lack of Product Differentiation and Innovation
Opportunities:
Rapidly Growing Demand for Renewable Energy Sources
Market Leaders and their expansionary development strategies
In October 2023, ABB partners with non-profit organizations to donate ELP devices to low-income communities, improving safety and preventing electrical accidents
In November 2023, Legrand introduces "Earth Leakage Circuit Breaker (ELCB) with tamper-proof design," preventing unauthorized modifications and ensuring optimal safety performance.
Key Target Audience
Earth Leakage Protection Manufacturers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.