Ground Fault Sensor Market size is poised to reach USD 3 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of ground fault sensor was USD 8 Billion. This is mainly due to the increasing demand for ground fault sensors in the residential, commercial and industrial sectors, driven by factors such as the rising number of electrical accidents, the need for safety. Each year, nearly 380-400 people are electrocuted at home, causing roughly 200 deaths. A further 3500-4,000 people are electrocuted at the workplace every year. These incidents have emphasized the importance of reliable ground fault sensors for identification and prevention of electrical accidents.
Technological advancements in ground fault sensors have resulted in improved accuracy, ensuring more precise detection and measurement of ground faults. Recently, EV technology has advanced to bidirectional charging systems using ground fault current sensors. Technological advancements have also led to the incorporation of enhanced safety features in ground fault sensors, providing additional protection against electrical hazards.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~7% |
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Base Year Market Size (2023) |
~ USD 3 Billion |
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Forecast Year Market Size (2036) |
~ USD 8 Billion |
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Regional Scope |
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Product (AC, DC)
The DC ground fault sensor segment in the ground fault sensor market is estimated to gain the largest revenue share of about ~60% in the year 2036. The segment growth can be attributed to the increase in demand for DC ground fault sensors in commercial and industrial applications, as they are more reliable and accurate than conventional sensors. Moreover, their ability to provide real-time protection against electric shocks makes them an attractive choice for end-users. Additionally, the increasing adoption of renewable energy sources and growing focus on energy efficiency are also expected to drive the demand for DC ground fault sensors over the forecast period.
Application (Power, Vehicle, Equipment)
The power application segment in the ground fault sensor market is estimated to gain the significant share of about 40% in the year 2036. The segment growth can be attributed to the increased adoption of renewable energy sources, such as solar and wind, which require power applications to monitor and protect equipment from ground faults. Ground fault sensor are especially useful in high-risk areas, such as in power plants and other industrial facilities, where electrical faults can cause serious injuries or even deaths. Additionally, they are used to monitor substations, power plants, and other electrical equipment to ensure that any potential hazards are identified and addressed quickly.
Our in-depth analysis of the ground fault sensor market includes the following segments:
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Product |
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Application |
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North America Market Forecast
Ground fault sensor market in North America is anticipated to hold the largest with a share of about ~30% by the end of 2036. The region is home to a large number of construction and manufacturing industries, where ground fault sensors are used extensively. Additionally, the region also has a strong presence of regulatory bodies that set stringent safety standards for electrical installations, which further drives the demand for ground fault sensors. For instance, In the United States, the National Electrical Code, or NFPA 70, specifies safe wiring and equipment installation procedures for electrical wiring and equipment. These safety standards require the use of ground fault sensors to detect electrical faults in the ground and alert the user of any potential hazards. This helps to ensure that the public is protected from any potential electrical fires or shocks.
APAC Market Analysis
The Asia Pacific ground fault sensor market is estimated to be the second largest, registering a share of about ~25% by the end of 2036. The market’s expansion can be attributed majorly to the increasing demand for renewable energy sources, the growing need for reliable power systems, and the rising number of grid-connected renewable power plants. The total installed power capacity of China's electric grid was 2.38 TW in the first quarter of 2023, with 1.26 TW coming from renewable sources, including 376 GW from wind power and 425 GW from solar power. China has a cumulative grid-connected photovoltaic capacity of 305.99GW, up 20.9% since 2021. As renewable energy sources become more popular and the grid connection capacity increases, the need for ground fault sensors also increases. These sensors are important for detecting and locating any electrical faults in the grid, and are essential for ensuring the safety of renewable energy sources.
Author Credits: Abhishek Verma, Hetal Singh
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