Global Neutral Grounding Resistor Market Insights Forecasts to 2032

• The Global Neutral Grounding Resistor Market Size was valued at USD 653.39 Million in 2022.
• The Market is Growing at a CAGR of 5.7% from 2023 to 2032
• The Worldwide Neutral Grounding Resistor Market is expected to reach USD 1,137.42 Million by 2032
• Asia-Pacific is expected to grow the fastest during the forecast period

The global Neutral Grounding Resistor Market is expected to reach USD 1,137.42 Million by 2032, at a CAGR of 5.7% during the forecast period 2023 to 2032.

Market Overview

A Neutral Grounding Resistor (NGR) is a crucial component in electrical power systems that helps protect transformers, generators, and other electrical equipment from damage caused by fault currents. NGRs are connected between the neutral point of the system and ground, creating a path of resistance for fault currents to flow during a fault condition. By limiting the fault current to a safe level, NGRs prevent equipment damage, reduce the risk of fires and explosions, and improve overall system reliability and safety. NGRs are typically designed with high resistance values, ranging from a few ohms to several hundred ohms, and are selected based on the specific requirements of the power system. Properly designed and installed NGRs are essential for ensuring the safe and reliable operation of electrical power systems.

Report Coverage

This research report categorizes the market for neutral grounding resistor market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the neutral grounding resistor market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the neutral grounding resistor market.

Driving Factors

The drivers of the Neutral Grounding Resistor (NGR) market include the increasing demand for reliable and safe power distribution systems in various industries, such as oil and gas, mining, manufacturing, and utilities. The growing awareness about the need for effective fault current protection to prevent equipment damage and ensure operational continuity is also driving the demand for NGRs. Additionally, stricter regulations and standards related to electrical safety and equipment protection are compelling industries to adopt NGRs as a crucial component in their electrical systems. Moreover, the increasing focus on renewable energy sources, such as solar and wind power, which require proper grounding and fault protection, is further propelling the NGR market. The need for retrofitting existing electrical systems with NGRs to enhance safety is also contributing to market growth.

Restraining Factors

The restraints of the Neutral Grounding Resistor (NGR) market include challenges such as the high initial cost associated with installing NGRs, which can be a barrier to adoption for some industries or regions with budget constraints. Additionally, the complexity of selecting the right type and rating of NGRs for specific applications, as well as the need for skilled personnel for installation and maintenance, may pose challenges for end users. Moreover, the availability of alternative fault protection devices or methods, such as solid-state devices or arc-flash detection systems, may impact the demand for NGRs.

Market Segmentation

• In 2022, the high (>36kV) voltage segment accounted for around 36.4% market share

On the basis of voltage, the global neutral grounding resistor market is segmented into low (<1 kV), medium (1-36 kV), and high (>36 kV). The high (>36kV) voltage category is dominating the market with the largest market share in 2022. This can be attributed to the increasing demand for efficient and reliable electrical power distribution in industries such as utilities, oil and gas, and manufacturing, which often require higher voltage levels for their operations. Additionally, advancements in technology and infrastructure development in this category have further accelerated the adoption of Neutral Grounding Resistors (NGRs) for fault current protection, grounding, and safety purposes, driving its dominance in the market.

• In 2022, the high resistance segment dominated the market with more than 41.5% revenue share

Based on the type, the global neutral grounding resistor market is segmented into low resistance and high resistance. Out of this, the high resistance segment is dominating the market with the largest market share in 2022. This is due to the increasing demand for higher resistance NGRs, which are widely used in various industries for effective fault current protection and grounding applications. High-resistance NGRs are capable of limiting the fault current magnitude to a safe level, reducing the risk of equipment damage and personnel injury. Moreover, the growing focus on electrical safety regulations and the need for reliable power distribution systems have further fueled the demand for high-resistance NGRs, contributing to their dominance in the market.

Regional Segment Analysis of the Neutral Grounding Resistor Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia-Pacific is leader in the market with around 35.2% revenue share in 2022.

Based on region, Asia Pacific has emerged as a dominant region in the Neutral Grounding Resistor (NGR) market due to several factors. Rapid industrialization and urbanization in countries like China and India have led to increased demand for reliable and safe power distribution systems, driving the adoption of NGRs. The expanding manufacturing, oil and gas, and utility sectors in the region have also created a need for effective fault current protection using NGRs. Additionally, favorable government initiatives and investments in infrastructure development, including power generation and transmission projects, have further boosted the demand for NGRs in Asia Pacific.

Recent Developments

• In July 2022, Littelfuse successfully completed the acquisition of C&K Switches, a renowned designer and manufacturer of high-performance electromechanical switches and interconnect solutions. The integration of our companies greatly enhances our technological expertise and capabilities, enabling us to provide comprehensive solutions to our diverse customer base across various vertical markets. We anticipate that this strategic acquisition will drive sales and revenue growth, as it allows us to attract new customers and retain existing ones, further strengthening our market position.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global neutral grounding resistor market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Companies:

• Metal Deploye Resistor
• Simpax SP. z o.o
• Cressall Resistors Ltd
• Schneider Electric S.E.
• Hilkar Ltd.
• Aktif Group
• Microelettrica Scientifica S.P.A.
• Littelfuse, Inc.
• MegaResistors Corporation
• Filnor, Inc.
• AMPCONTROL Equiptments Pvt. Ltd.
• National Resistors
• AG Electronics
• AMECO Engineering
• Lachhman Electronics
• AKTIF Group
• National Switchgears

Key Target Audience

• Market Players
• Investors
• End-Users
• Government Authorities 
• Consulting and Research Firm
• Venture Capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global neutral grounding resistor market based on the below-mentioned segments:

Neutral Grounding Resistor Market, By Type

• Low Resistance
• High Resistance

Neutral Grounding Resistor Market, By Voltage

• Low (<1 kV)
• Medium (1-36 kV)
• High (>36kV)

Neutral Grounding Resistor Market, By Site

• Indoor (IP00/IP20)
• Outdoor (IP23/IP55

Neutral Grounding Resistor Market, By End-Use

• Power generation
• Data Center
• Manufacturing
• Healthcare
• Oil & Gas
• Military & Defense
• Others

Neutral Grounding Resistor Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa