The global neutral grounding resistor market was valued at US$ 366.4 Million in 2020 and is expected to reach US$ 525.9 Million by the end of the forecast period, expanding at a CAGR of 6.3% during the forecast period.
Asia Pacific is the largest market for neutral grounding resistors and is expected to retain market dominance throughout the forecast period as well. The dominance of the region is supported by the high contribution from China and major players operating in the space of the manufacturing industry. The neutral grounding resistor market is highly fragmented as a large number of players offer a wide range of products and services across the globe. There is no dominant shareholder in the global neutral grounding resistor market, who acquires more than 4% of the total market revenue.
The research report analyses the ecosystem of the neutral grounding resistor market and categorizes the neutral grounding resistor Market to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.
By Voltage Type, the high (>36kV) is dominating the neutral grounding resistors market in the year 2020
Based on the voltage, the high (>36kV) segment accounted for a market share of 37.5% in 2020. Neutral grounding resistors are generally employed in low and medium voltage distribution networks to protect generators and power transformers from damaging currents in the event of an earth fault. By using a neutral earthing resistor with required characteristics between the ground and neutral point of the transformer it is possible to limit the ground fault current for a short span, this will enable a quick localization of the fault without damaging the equipment. 200 to 400 A-rated neutral grounding resistors are commonly used in 6.9 kV to 34.5 kV systems, while 100 to 400 A-rated neutral grounding resistors are generally used in 2.4 kV to 4.16 kV systems.
By Type, the high resistance is estimated to be a larger type market in the Neutral Grounding Resistor market in 2020
A high resistance system allows power systems to continue operation in single-fault conditions by limiting ground-fault current to a low level (1-10A). It reduces the time required to detect ground faults while the system is online. Other benefits of high resistance systems include elimination of mechanical damage as well as thermal damage to the shorted transformer, ability to provide external fault indication or interruption where first-fault tripping is required. Neutral grounding resistor for high resistance accumulated the largest share due to its several benefits mentioned earlier.
The key players operating in the global Neutral Grounding Resistor market include Metal oxo Deploye Resistor, Simpax Sp. z o.o, Cressall Resistors Ltd. Schneider Electric S.E., Hilkar Ltd, Aktif Group, Microelettrica Scientifica SpA, Littelfuse, Inc., and MegaResistors Corporation, among others. The market dominance of these companies are characterized by their vast product portfolio of Neutral Grounding Resistor, high investment in R&D activities for Neutral Grounding Resistor, revenue, capital expenditure, employee strength, and geographical presence of companies.
|Sr. No.||Key Trends||Impact|
|1||Growth in the telecommunication industry driven by the increasing adoption of technologies such as 5G, IoT, artificial intelligence, and machine learning among others||Positive|
|2||Increasing adoption of the smart grid by the companies for energy supplies to improve efficiency, save cost, and reduce carbon emissions||Positive|
|3||Growing demand and supply of electricity, driven by the rising global population, growing urbanization, increasing electricity access to the people across developing countries, and growing world economy among others||Positive|
|4||A rise in the electrical and electronic equipment failures caused primarily due to overheating as a result of inappropriate monitoring of current and voltages||Positive|
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.
Chapter 1. Executive Summary
Chapter 2. Market Dynamics and Outlook
Chapter 3. Global Neutral Grounding Resistor Market (US$ Mn, Units), by Voltage, 2016 -2026
Chapter 4. Global Neutral Grounding Resistor Market (US$ Mn, Units), by Type, 2016 -2026
Chapter 5. Global Neutral Grounding Resistor Market (US$ Mn, Units), by Site, 2016 -2026
Chapter 6. Global Neutral Grounding Resistor Market (US$ Mn, Units), by End-Use Industry, 2016 -2026
Chapter 7. Global Neutral Grounding Resistor Market (US$ Mn, Units), By Geography, 2016 -2026
Chapter 8. Competitive Intelligence
Chapter 9. Company Profiles
Chapter 10. Research Methodology