Global Industrial Insulation Testers Market 2018-2022 | Focus on Preventive Maintenance in Industries to Drive Growth | Technavio

Technavio has published a new market research report on the global industrial insulation testers market from 2018-2022. (Graphic: Business Wire)

LONDON--()--Technavio analysts forecast the global industrial insulation testers market to grow to USD 381.74 million by 2022, according to their latest market research report.

The increase in adoption of lithium-ion batteries for insulation testers is one of the major trends being witnessed in the global industrial insulation testers market. High voltage insulation testers employ NiMH batteries. However, there are certain issues associated with the use of NiMH batteries. When compared with the newer technologies, these batteries have lower specific energy. They have a high self-discharge, which is one of the major issues resulting in the loss of a considerable amount of charge even if it is not used. Degradation of performance takes place due to the use of NiMH batteries when operated at higher temperatures.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

In this report, Technavio analysts highlight the focus on preventive maintenance in industries as a key factor contributing to the growth of the global industrial insulation testers market:

Global industrial insulation testers market: Focus on preventive maintenance in industries

Preventive maintenance refers to a regular check-up of industrial equipment. Several parameters of the equipment are checked to find if they lie within the normal range or beyond it. Therefore, preventive maintenance helps in preventing any faults that may arise in industrial equipment. In the absence of preventive maintenance, there can be unscheduled outages at workstations.

According to a senior analyst at Technavio for research on engineering tools, “As transformers, motors, and cables are key industrial components, any faults in these key components, while running a plant, can lead to an unnecessary stoppage in the operation of the workstation. This induces industries to focus on preventive maintenance to limit these faults. Insulation resistance testers are one of the important tools employed in the testing of crucial equipment and machinery.”

Global industrial insulation testers market: APAC projects the fastest growth rate through 2022

This market research report segments the global industrial insulation testers market into the following end-users (process industry and discrete industry), voltage (low voltage industrial insulation tester and low voltage industrial insulation tester), and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Of the two major end-users, the process industry segment held the largest market share in 2017, contributing to over 61% of the market. The market share occupied by this segment is expected to increase by 2022. However, this end-user segment will dominate the global market throughout the forecast period.

APAC was the leading region for the global industrial insulation testers market in 2017. It accounted for a market share of approximately 35%. It was followed by EMEA and the Americas. APAC is expected to project the fastest growth during the period 2018-2022.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

Technavio analysts forecast the global industrial insulation testers market to grow to USD 381.74 million by 2022, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com