Earthing Equipment Market Size to Reach US$ 7.0 Billion by 2028 - IMARC Group

IMARC Group, a leading market research company, has recently releases report titled "Earthing Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The study provides a detailed analysis of the industry, including the global earthing equipment market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the earthing equipment market?

The global earthing equipment market size reached US$ 4.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.6% during 2023-2028.

What is earthing equipment?

Earthing equipment refers to a set of devices and components designed to establish a reliable connection between electrical systems and the ground. It plays a crucial role in ensuring safety and proper functioning of electrical installations, protecting both people and equipment from the hazards of electric faults and lightning strikes. Earthing equipment typically includes various components such as copper or aluminum conductors, grounding rods or electrodes, grounding mats, grounding clamps, and connectors. These components work together to create a low-impedance path for electrical currents to flow into the ground, diverting excessive current and preventing electrical shocks or equipment damage. Grounding rods or electrodes are essential components of earthing equipment. They are buried in the earth and provide a conductive path for electrical currents. Copper or galvanized steel rods are commonly used due to their excellent electrical conductivity and corrosion resistance.

The rods are connected to the electrical system through conductors, typically made of copper, which ensure a secure and low-resistance connection. Grounding mats are also used in certain applications, such as telecommunication systems or sensitive electronic equipment installations. These mats consist of conductive materials, such as copper or aluminum, and are placed beneath the equipment or around the area to provide a larger grounding surface for effective dissipation of electrical currents. Earthing equipment is vital in various industries, including residential, commercial, and industrial sectors. It is particularly critical in areas where the risk of electrical faults or lightning strikes is high. By establishing a reliable ground connection, earthing equipment helps prevent electric shock hazards, protects sensitive electronic equipment from power surges, and aids in dissipating lightning strikes, diverting the potentially destructive current into the ground.

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What are the growth prospects and trends in the earthing equipment industry?

One of the primary drivers of the earthing equipment market is the increasing focus on electrical safety. Governments and regulatory bodies across the globe are implementing stringent safety regulations and standards to ensure the protection of people, property, and equipment from electrical hazards. Additionally, the rapid growth of the construction industry, particularly in developing economies, has been a significant catalyst for the earthing equipment market. The construction of residential, commercial, and industrial buildings requires proper grounding systems to comply with safety codes and standards. As construction activities continue to rise, the demand for earthing equipment, such as grounding rods, conductors, and mats, is expected to increase. Furthermore, the increasing adoption of renewable energy sources, such as solar and wind power, has created new opportunities for the earthing equipment market. These energy generation systems require effective earthing systems to ensure safe and reliable operation. As the renewable energy sector expands globally, the demand for earthing equipment specifically designed for these applications is also projected to grow. Moreover, the increasing focus on environmental sustainability and energy efficiency is driving the demand for eco-friendly earthing equipment.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product:

MS Flat
CI Flat
GI Wire

Breakup by Application:

Residential
Commercial
Industrial

Breakup by Region:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Who are the key players operating in the industry?

The report covers the major market players including:

ABB Ltd.
CG Power and Industrial Solutions Limited (Avantha Group)
Eaton Corporation Inc.
Emerson Electric Co.
General Electric
Harger Lightning & Grounding
Kingsmill Industries UK Ltd.
Schneider Electric SE
Toshiba Corporation

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This release was published on openPR.