- Summary
- Table Of Content
- Methodology
Earth Leakage Protection Market Introduction :
Consegic Business Intelligence analyzes that the earth leakage protection market is growing with a healthy CAGR of 4.7% during the forecast period (2023-2030), and the market is projected to be valued at USD 4,384.66 Million by 2030 from USD 3,055.19 Million in 2022.
Earth Leakage Protection Market Definition & Overview:
Earth leakage protection is a technique that seamlessly monitors the current flowing through the conductors. The earth leakage protection devices indicate several currents are flowing elsewhere in case the current become unbalanced between active and neutral. This results in the efficient detection of short circuits and current leakage. The device quickly shuts off the power, thereby preventing the danger of an electric shock. The major pole types of earth leakage protection include 1P, 2P, 3P, and others. These pole types efficiently detect small stray voltages on the metal enclosures of the electrical equipment. This leads to the efficient interpretation of the circuit in case a very high voltage is detected. As a result of the above-mentioned benefits, earth leakage protection products are utilized in various end-use industries, including residential, commercial, and industrial.
Earth Leakage Protection Market Insights :
Earth Leakage Protection Market Dynamics - (DRO) :
Key Drivers :
The rise in the residential industry is accelerating the market growth
Earth leakage protection is an ideal product for use in the residential industry to protect the electrical system in residential buildings. As a result, earth leakage protection is employed in residential projects such as residential complexes, residential buildings, and others.
The factors such as increasing investments in residential building projects, rising demand for larger living spaces, and other factors are proliferating the residential industry growth at the global level. For instance, according to the recent 2022 statistics published by the European Construction Industry Federation (FIEC), in 2020, the investment in residential construction projects in France was Euro 65,142.36 million (USD 74,405.34 million), and in 2021, it was EURO 74,588.00 million (USD 88,218.21 million), an increase of 14.5% as compared with the year 2020. Thus, the growth in the residential industry is accelerating the demand for earth leakage protection to efficiently detect detects fault currents. This prominent factor is driving the growth of the market.
The booming commercial construction industry is supplementing the growth of the market
The deployment of earth leakage protection is vital in commercial buildings to promptly detect earth leakages. Thus, preventing injury from electrical shocks. The increasing investment in the healthcare infrastructure, expansion of leisure construction projects, and others are accelerating the growth in new commercial construction projects at the global level. For instance, as of July 2023, various commercial construction projects are in the near completion phase, including USD 1,760 million Lok Ma Chau Emergency Hospital Development project in China (project completion year Q4 2023), USD 476 million for The Eight Office Tower project in the United States (completion year 2024), and others. Hence, the growth in the near completion of commercial construction projects at the global level is accelerating the demand for earth leakage protection to monitor the health of insulation by measuring the extent of leakage. Henceforth, the growth of the commercial construction industry is proliferating the growth of the earth leakage protection market.
Key Restraints :
Performance limitation associated with earth leakage protection is restraining the growth of the market
Earth leakage protection devices have various beneficial characteristics such as superior protection from electric shock by direct & indirect contact, safeguarding against fire due to electric shocks, and others. As a result, earth leakage protection is an ideal choice for various end-use industries such as residential, industrial, and others. However, the performance limitations associated with earth leakage protection are restraining the growth of the market. For instance, the breakage of wire in the earth leakage protection devices leads to disabling the operation of the earth leakage protection devices. This performance limitation may impact the overall performance in detecting voltage leakage. Thus, the above performance limitations associated with earth leakage protection are posing a bottleneck for market growth during the projected forecast period.
Future Opportunities :
Future anticipated growth of the industrial sector will promote the earth leakage protection market growth
In industrial settings, the requirement for electricity is in larger units. This factor leads to higher risks associated with electric shocks, short circuits, and others. As a result, earth leakage protection devices are utilized in industrial facilities to ensure efficient safeguarding against shock circuits. Earth leakage protection is employed in industrial facilities such as aerospace manufacturing, heavy equipment manufacturing plants, metal manufacturing factories, and others. For instance, in March 2022, the Southern province of Binh Duong, Vietnam announced the development of two giant industrial parks. These industrial zones will cover an area of over 10 sq km each. Hence, the recent announcements for the development of new industrial zones will drive the future anticipated growth of the industrial sector. This, in turn, is projected to drive the demand for earth leakage protection to ensure protection against electric shocks. This factor will promote the earth leakage protection market growth in the forecast years.
Earth Leakage Protection Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 4,384.66 Million |
| CAGR (2023-2030) | 4.7% |
| By Pole Type | 1P, 2P, 3P, and Others |
| By End-use Industry | Residential, Commercial, and Industrial |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
| Key Players | Schneider Electric, ABB, Eaton, Siemens, Legrand, Fuji Electric, Mitsubishi Electric, Hitachi Industrial, Broyce Control, and CHINT |
Earth Leakage Protection Market Segmental Analysis :
Based on the Pole Type :
The pole type segment is categorized into 1P, 2P, 3P, and others. In 2022, the 2P segment accounted for the highest market share of 38.05% in the overall earth leakage protection market. The 2P is the most preferred type of earth leakage protection product. This is due to the excellent step-down current feature of the 2P. In addition, the 2P adequately compares the current flowing in the live wire with the current flowing to the ground. The 2P enables the quick tripping of the circuit in case of a significant difference between the above-mentioned comparisons. Thus, the 2P is an ideal product for indicating a leakage to the ground. 2P is utilized in various end-use industries, including residential, commercial, and others. For instance, according to the United States Census Bureau, in 2020, the new residential construction projects commenced in the United States were 1,379.61 thousand units, and in 2021, it was 1,610 thousand units, an increase of 16.7% as compared with the year 2020. Therefore, the growth of the residential construction industry is accelerating the demand for 2P to ensure efficient detection of leakage. This, in turn, is driving the growth of the market.
However, the 3P segment is expected to be the fastest-growing segment during the forecast period. This is due to the growth in industrial construction projects at the global level.
Based on the End-User-Industry :
The end-use industry segment is categorized into residential, commercial, and industrial. In 2022, the commercial segment accounted for the highest market share in the earth leakage protection market. Earth leakage protection is a safety device employed in electrical installations in the commercial industry to protect electrical equipment and systems from destruction caused by higher current flow such as short circuits, overloading, and others. As a result, earth leakage protection is deployed in various commercial construction projects such as malls, office buildings, hospitals, institutional buildings, and others. For instance, in the Q1 of 2023, various commercial and leisure construction projects commenced in India, including Noida Integrated Commercial Project (project completion year 2026), Bengaluru Retail and Entertainment Complex Development (project completion year 2025), Phoenix Marketcity Kolkata (project completion year 2026), and others. Thus, the booming commercial industry is boosting the demand for earth leakage protection to detect small stray voltages. This, in turn, is favoring market growth.
However, the residential segment is expected to be the fastest-growing segment during the forecast period. This growth is attributed to factors such as increasing investment in new residential projects, government subsidies for affordable housing, and others.
Based on the Region :
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
In 2022, Europe accounted for the highest market share at 35.20% and was valued at USD 1,075.43 million, and is expected to reach USD 1,549.10 million in 2030. In Europe, Germany accounted for the highest market share of 21.15% during the base year of 2022. The growth of the various end-use industries such as residential, commercial, and others are favoring the market growth. For instance, as of July 2023, various commercial construction projects are in the development phase, including USD 50 million Tonsberg Shopping Center project in Norway (project completion year 2024), USD 1,424 million Nantes New CHU Hospital Development project in France (project completion year 2027), USD 115 million Nexum Retail Park Shopping Center project in Spain (project completion year 2023), and others. Hence, the growth of commercial construction projects in the Europe region is boosting the demand for earth leakage protection to ensure protection against fire. This, in turn, is driving the growth of the earth leakage protection market in the Europe region.
Furthermore, Asia Pacific is expected to witness significant growth over the forecast period, growing at a CAGR of 5.0% during 2023-20230. This is due to the exponential growth of various end-use industries such as residential, commercial, and industrial.
Top Key Players & Market Share Insights :
The earth leakage protection market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
- Schneider Electric
- ABB
- Hitachi Industrial
- Broyce Control
- CHINT
- Eaton
- Siemens
- Legrand
- Fuji Electric
- Mitsubishi Electric
Recent Industry Developments :
- In January 2022, ABB, a global manufacturer of earth leakage protection products launched a new range of products in India, including Residual Current Circuit Breakers (RCCBs), Miniature Circuit Breakers (MCBs), and Isolators for the Indian retail industry. The products are ideal for earth leakage protection applications.
Key Questions Answered in the Report
What was the market size of the earth leakage protection industry in 2022? +
In 2022, the market size of earth leakage protection was USD 3,055.19 million
What will be the potential market valuation for the earth leakage protection industry by 2030? +
In 2030, the market size of earth leakage protection will be expected to reach USD 4,384.66 million.
What are the key factors driving the growth of the earth leakage protection market? +
The rising residential industry is accelerating the earth leakage protection market growth.
What is the dominating segment in the earth leakage protection market by pole type? +
In 2022, the 2P segment accounted for the highest market share of 38.05% in the overall earth leakage protection market.
Based on current market trends and future predictions, which geographical region is the dominating region in the earth leakage protection market? +
Europe accounted for the highest market share in the overall earth leakage protection market.
