Earthing Equipment Market Overview:
The global earthing equipment market was valued at $ 4,542.3 million in 2017 and is expected to reach $7,140.2 million by 2025, growing at a CAGR of 5.8% from 2018 to 2025.
Earthing equipment are a metal link connection between the body of any electrical appliance, or neutral point to the deeper ground soil. It includes flat tape, solid circular, and stranded conductor, copper bonded grounding rod, grounding wire, and grounding clamp. The equipment is used in industrial and residential applications to protect humans from electric shock and safeguard electronic devices against overvoltage and lightning currents.
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The circuits of most electronic device and systems are sensitive to high voltages. Therefore, these devices require protection from overload currents, as overload or faulty currents can damage the circuit. In a properly earthed system, such fault current is carried without causing any harm while the fuse is tripped. Earthing offers protection from large electrical disturbances such as lightning strikes and power surges. It also helps in the dissipation of hazardous static electrical charges. Earthing equipment are cheap, easy to install, and require no maintenance. Thus, this factor plays a vital role in driving the earthing equipment market. However, frequent change in standards for product design, and lack of product differentiation are the major challenges faced by the earthing equipment industry. On the contrary, increase in construction and residential sector is expected to offer potential opportunities for the market expansion.
The global earthing equipment market is segmented based on product, end user, and region. Based on product, the market is fragmented into MS flat, CI flat, and GI wire. The CI flat segment is anticipated to dominate the global earthing equipment market throughout the study period. By user end, it is categorized into residential, commercial, and industrial.
The global earthing equipment market is analyzed across four geographical regions, which include North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is expected to dominate the market throughout the forecast period.
The key players profiled in this report include ABB, Alstom, Crompton Greaves, Eaton, Emerson Electric, GE, Harger Lightning & Grounding, Schneider Electric, Kingsmill Industries UK Ltd, and Toshiba.
Key Benefits for Earthing Equipment Market:
• The study provides an in-depth analysis of the global earthing equipment market, and current & future trends to elucidate the imminent investment pockets.
• Information about the key drivers, restraints, and opportunities and their impact on the market is provided.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of the global earthing equipment market from 2018 to 2025 is provided to determine the market potential.
Earthing Equipment Key Market Segments:
• MS flat
• CI flat
• GI wire
• By End User
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