The latest report by IMARC Group, titled “Earthing Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global earthing equipment market size reached US$ 4.9 Billion in 2022. Earthing equipment refers to devices that transfer electricity directly to the plate of the earth with low-resistance electrical cables. Some commonly used earthing equipment are earth clamp application heads, clamp sticks, operating rod bags, pruning heads, specialist application heads, solid circular, flat tape, stranded conductors, and low-resistance cables. They include a metal link penetrated to the ground earthing grid. These components connect buildings with a conductive surface placed at a neutral point in the soil for enhanced safety. They also protect from lightning strikes, power surges, and electrical disturbances and ensure the safety of electrical devices and appliances from electric shock and overvoltage. Owing to these benefits, earthing equipment is extensively used in residential, commercial, and industrial sectors across the globe.
Global Earthing Equipment Market Trends:
The market is primarily driven by the increasing construction activities across the globe. In addition, rapid industrialization, rising population, and the escalating demand for earthing solutions are contributing to market growth. Moreover, the increasing construction of tunnels, roads, manufacturing plants, residential and commercial buildings, and railway tracks, especially in developing nations, is accelerating the demand for efficient earthing equipment across the globe. Besides this, the growing incorporation of the internet of things (IoT)and artificial intelligence (AI) in smart devices, such as refrigerators and televisions requiring constant earthing, represents another major growth-inducing factor. Along with this, the widespread adoption of earthing equipment in automobile manufacturing and the reconstruction of the existing power grids is propelling market growth. Furthermore, governments of various countries are launching several new and enhanced technologies and investing in infrastructure development projects which are creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 7.0 Billion by 2028, exhibiting a CAGR of 5.6% during the forecast period (2023-2028).
- Based on the product, the market has been segregated into MS flat, CI flat, and GI wire.
- On the basis of the application, the market has been classified into residential, commercial, and industrial.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined in the report, with some of the key players being 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 and Toshiba Corporation.
|Base Year of the Analysis
||Product, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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 and Toshiba Corporation
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