Global ground resistance tester demand is projected to be valued at USD 3.5 Billion in 2022, forecast to grow at a CAGR of 5.5% to be valued at USD 6 Billion from 2022 to 2032. Growth is attributed to the rising demand for renovation projects and development in residential and commercial construction.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 3.3 Billion |
| Expected Market Value (2022) | USD 3.55 Billion |
| Anticipated Forecast Value (2032) | USD 6 Billion |
| Projected Growth Rate (2022 to 2032) | 5.5% CAGR |
Ground resistance testers are devices used to test and measure electrical grounding systems. Ground resistance testers are required to diagnose electrical grounding problems, improve system performance and avoid electrical hazards. Proper grounding is required to enable optimum electrical continuity between the Earth and the conducting objects. Ground resistance testers can be used to take many other measurements including, ground bond, Earth leakage, etc.
Ground resistance testers are used to check the electrical integrity of an instrument. The purpose of earth grounding is to enable a safe path for lightning strikes, RFI and EMI signals, dissipation of fault currents, interference, and static discharges. The Earth grounding is required for the safety of the instruments that are commonly used by the people and therefore the ground resistance testers are used to measure the safety of the instrument.
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Growing urbanization and mounting electricity distribution work in emerging economies push the demand for ground resistance testers. Effective earthing is crucial for the safe operation of every electrical system, and the only way to make sure that earthing installations are useful is to test them rigorously and regularly using a ground resistance tester.
The ground resistance tester defends human lives from leakage current, delivers protection to electrical appliances or devices, and ensures voltage remains constant. A ground resistance tester is also needed in industrial applications to avert injury due to faulty connections.
Despite the effective operations of ground resistance testers, the product is gaining slow traction in emerging countries due to a lack of awareness. However, with the implementation of stringent government regulations for the protection of the employees, therefore the demand for ground resistance testers might increase in the next 3 to 4 years.
Urbanization and industrialization are expected to grow at a rapid rate in the Asia Pacific region and therefore the demand for ground resistance testers might also increase. The increase in electrification might also enable an increase in ground resistance testers.
There has been a significant upsurge in the standard of living in India and China which increased the utility of electrical equipment in houses. Thus, it is necessary to protect the equipment from overload and bolster the demand for ground resistance testers in the region.
Owing to subsequent events of lightning strikes in several states of America cause serious damage to the electrical equipment in houses and require an effective ground resistance system. According to USA National Electrical Code (NEC), the principal reasons for using ground resistance testers are that it stabilizes the voltage to earth during normal operation and also limits the voltage rise created by lightning, line surges, or unintentional contact with higher-voltage lines.
The region is witnessing augmented industrialization which may arises the possibility of current leakage. Thereby, surging the demand for ground resistance testers at a rapid pace.
Some of the key participants present in the global demand for Ground Resistance Testers market include Chauvin Arnoux, Inc., Extech Instruments Corporation, Fluke Corporation, Megger Group Limited, Hioki E.E. Corporation, CATU, Chauvin Arnoux, Inc., Di-Log Test Equipment, Extech Instruments, Kewtech Corporation Ltd, Martindale Electric, Metrel d.d., Amprobe, etc., among others.
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Display, Function, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific excluding Japan; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled | Chauvin Arnoux, Inc.; Extech Instruments Corporation; Fluke Corporation; Megger Group Limited; Hioki E.E. Corporation; CATU; Chauvin Arnoux, Inc.; Di to Log Test Equipment; Extech Instruments; Kewtech Corporation Ltd; Martindale Electric; Metrel d.d.; Amprobe |
| Customization | Available Upon Request |
FMI projects the global demand of the Ground Resistance Testers market to expand at a 5.5% value CAGR by 2032
North America is expected to be the most opportunistic Ground Resistance Testers market, expanding at a 5% CAGR
Chauvin Arnoux, Inc., Extech Instruments Corporation, Fluke Corporation, Megger Group Limited, Hioki E.E. Corporation, CATU, Chauvin Arnoux, Inc., Di-Log Test Equipment, Extech Instruments, Kewtech Corporation Ltd, Martindale Electric, Metrel d.d., Amprobe, etc., among others.
| Market Value for 2023 | USD 367.1 million |
|---|---|
| Market Value for 2033 | USD 592.2 million |
| Market CAGR from 2023 to 2033 | 4.9% |
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Ground Resistance Testers Market
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