Earthing Equipment Market – Global Market Size, Strategic Growth Drivers, Risk Assessment Framework, Regulatory Landscape Review, Competitive Intensity Mapping & Long-Term Industry Outlook to 2030
Overview
Earthing Equipment Market size is expected to reach US$ 11.06 Bn. by 2030, growing at a CAGR of 7.34% during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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The report analyzes factors affecting earthing equipment market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The primary purpose of earthing is to decrease the risk of serious electric shock from current leaking into uninsulated metal parts of an appliance, power tool, or other electrical devices. The growth of the global earthing equipment market is driven by an increase in the consumer electronics industry. Rise in new technologies such as Pipe in Pipe Earthing Electrode, which offers a low resistance path in the ground to detect any fault & leakage currents and ensures the smooth flow of the ground dissipation, increase the demand for earthing equipment across the world.
Growth in the construction market is expected to provide potential opportunities for the key players operating in the market. However, earthing equipment is expensive & operation costs are extremely high in case of big infrastructure installations. This factor restricts the growth of the global earthing equipment market. An increase in the residential and industrial sectors is anticipated to offer growth opportunities for the earthing equipment industries in upcoming years.
Also, the report will provide an accurate prediction of the contribution of the various product segments to the growth of the earthing equipment market size. In terms of product, the GI wire segment holds the largest share in 2018, contributing more than half of the total market revenue, owing to its raised usage in small- to the large-scale earthing system and its requirement in completing the grounding circuit. Furthermore, the segment is anticipated to manifest the fastest CAGR of xx% during the forecast period.
Based on end-user, the industrial segment is anticipated to create lucrative opportunities in the future. In 2018, the segment held the largest market share, contributing about half of the revenue owing to raised industrialization, where high power devices are used that require proper earthing for safety and security.
The Asia-Pacific region is estimated to witness the fastest growth during the forecast period. Moreover, North America dominated the global earthing equipment market in terms of revenue, contributing more than one-third of the total market share, owing to raised demand for earthing equipment because of the higher number of electrically advanced residential, commercial, and industrial sectors.
Some of the key players in the global earthing equipment market are ABB, Emerson Electric, Harger Lightning & Grounding, Crompton Greaves, Kingsmill Industries UK Ltd., Alstom, Eaton, GE, Schneider Electric, and Toshiba.
The objective of the report is to present a comprehensive analysis of the Global Earthing Equipment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Earthing Equipment Market dynamics, structure by analyzing the market segments and project the Global Earthing Equipment Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Earthing Equipment Market make the report investor’s guide
Scope of the Global Earthing Equipment Market: Inquire before buying
| Global Earthing Equipment Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | US $ 6.74 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 7.34% | Market Size in 2030: | US $ 11.06 Bn. |
| Segments Covered: | by Product | MS flat CI flat GI wire |
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| by End User | Residential Commercial Industrial |
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Earthing Equipment Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Earthing Equipment Market Key Players are:
1.ABB
2.Emerson Electric
3.Harger Lightning & Grounding
4.Crompton Greaves
5.Kingsmill Industries UK Ltd.
6.Alstom
7.Eaton
8.GE
9.Schneider Electric
10.Toshiba
Frequently Asked questions
1. What is the market size of the Global Earthing Equipment Market in 2023?
Ans. The market size Global Earthing Equipment Market in 2023 was US$ 6.74 Billion.
2. What are the different segments of the Global Earthing Equipment Market?
Ans. The Global Earthing Equipment Market is divided into Product and End User.
3. What is the study period of this market?
Ans. The Global Earthing Equipment Market will be studied from 2023 to 2030.
4. Which region is expected to hold the highest Global Market share?
Ans. The Asia Pacific dominates the market share in the market.
5. What is the Forecast Period of Global Market?
Ans. The Forecast Period of the market is 2024-2030 in the market.