Global Earthing Equipment Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Earthing Equipment Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global earthing equipment market report has been segmented on the basis of product type, end-user, and region.
Earthing Equipment Market: Overview
Earthing equipment is a device, involves a combination of protective devices, such as fuses and residual current devices. Earthing equipment is mainly used in various end-use industries such as power, manufacturing, oil and gas, and aviation. The primary purpose of earthing is to reduce the risk of electric shock from current leaking, power tool, or other electrical devices and safeguard electronic devices against overvoltage and lightning currents.
Earthing Equipment Market: Dynamics
Increasing demand for alternative energy sources and increase in requirement for earthing equipments from construction sector, are key factors expected to drive growth of the global earthing equipments market over the forecast period. Rise in number of construction projects for metro, road projects, and manufacturing plants, is anticipated to propel demand and drives growth of the earthing equipment market. In addition, increasing demand from the residential sector to protect residents, machinery, and appliances from electrical surges, giving a new way for growth of the market. Factors such as rising electricity demand and the reconstruction of the existing power grids also expected to boost adoption of earthing equipments during the forecast period. Moreover, continuous launch of new and improved technologies is projected to offer growth opportunities for growth of the target market.
Recent trend shows that government regulations and policies are focusing on earthing in commercial building, residential areas, and industrial plants. Regulations for earthing equipment’s may vary considerably among countries and follow the recommendations of the International Electro-Technical Commission.
However, changes in standards for product design is a key factor may hamper growth of the global earthing equipment market during the forecast period.
Earthing Equipment Market: Segment Analysis
Global earthing equipment market is segmented on the basis of product type, end-user, and geography.
By product type, the global market is segmented into MS flat, CI flat, and GI wire. The CI flat segment is expected to hold significant share in the market over the forecast period.
By end-user, the global market is segmented into residential, commercial, and industrial. The industrial segment accounts for major market share in terms of revenue and is expected to maintain its dominance over the forecast period owing to growth of industrial sector and new features of earthing equipments i.e. voltage stabilization.
Earthing Equipment Market: Regional Analysis
The market in North America is expected to dominate the global market over the forecast period. Factors such as increase in demand for technologically advance electrical equipments, higher electricity consumption and presence of developed residential, commercial & industrial sectors are some of the factors driving the market in countries in the region. The Asia Pacific earthing equipment market is expected to witness a significant growth owing to introduction of new commercial and industrial developments along with continuous launch of new and improved technologies in the market. The Middle East & Africa and Latin America earthing equipment markets are expected to gain traction in the near future. Modern structure or system for operational and safety reasons will help the market to attain substantial growth in the coming years.
Earthing Equipment Market Segmentation:
Segmentation by Product Type:
- MS flat
- CI flat
- GI wire
Segmentation by End-user:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Alstom SA
- Crompton Greaves
- Eaton Corporation plc
- Emerson Electric Co.
- General Electric Company
- Harger Lightning & Grounding
- Schneider Electric SE
- Kingsmill Industries UK Ltd
- Toshiba Corporation
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