Press release
Earthing Equipment Market 2023 Share, Size, Growth, Trends | Forecast 2028
Earthing Equipment Market Report
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.
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What is earthing equipment?
Earthing equipment comprises a set of devices and tools designed to safely transfer electricity to the ground plate through low-resistance cables. It is commonly made from materials such as copper, aluminium, and galvanized steel and is widely utilized in substations, power plants, railways, and buildings. It typically includes earth clamp application heads, clamp sticks, operating rod bags, pruning heads, specialist application heads, solid circular, flat tape, stranded conductors, and low-resistance cables. It is mainly used to establish a conductive connection between the building and a conductive surface embedded in the earth or at a neutral point in the soil, providing protection against power surges and lightning strikes. The use of earthing equipment also minimizes the chances of electric shocks caused by current leakage in uninsulated metal components of electrical devices. Moreover, earthing equipment aids in reducing the risk of fires in electrical installations. It is used in various sectors, including residential, commercial, and industrial, as it offers an elevated level of protection against overvoltage, power surges, electrical disturbances, electric shock, and lightning strikes, ensuring the safety of electrical appliances and devices. As a result, earthing equipment finds extensive applications in the power, manufacturing, oil and gas, and aviation industries across the globe.
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
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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
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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