Earthing Equipment Market Propelled by Growing Consumption of Electronic Goods | Size, Share, Growth, Trends, Demand, Industry Analysis, Key Player profile and Regional Outlook by 2023
Research Reports
Jan 05, 2021
Earthing is done to reduce the risk of electric shock from uninsulated parts of electrical devices by creating an alternative low resistance path for current. The global earthing equipment market’s growth has been solid in the past few years, and Market Research Future (MRFR) has anticipated the market to witness renewed growth in the coming years. As per MRFR’s latest report, the market is likely to capture a CAGR of 5.5% over the forecast period of 2018-2023.
Infrastructural activities are primarily driving the growth of the earthing equipment market. The governments in various developing countries have raised their infrastructure spending which is likely to spur the demand for earthing equipment over the forecast period.
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Expansion of the consumer electronics industry is also set to augment the growth of the market. Increase in spending capabilities across the globe has raised the demand for electronic goods which require earthing. Moreover, to keep pace with advancements in material mixes and inter-related technology, the earthing equipment market has also progressed considerably over the years. Technological advances in earthing equipment has created opportunities for an additional number of applications which is fostering the growth of the market. Moreover, developments in the earthing equipment space have led to increased demand from automotive OEMs who are increasingly leveraging earthing equipment to achieve benefits of reduction in installation time and cost.
Conversely, the growth of the market might be dampened by impeded by volatility in the price of raw materials.
Segmentation
The earthing equipment market has been segmented based on product and end-user. By product, the earthing equipment market has been segmented into MS earthing flat, GI earthing flat, and CI earthing flat. Product-wise, the CI earthing segment led the market in 2017 and is likely to retain its lead over the forecast period. The rise in industrial constructional activities has bolstered the demand for earthing equipment which is driving the CI earthing segment.
By end-user, the earthing equipment market has been segmented into commercial, industrial and residential. The industrial segment dominated the market in 2017 and is also predicted to exhibit maximum grow3th over the forecast period. The industrial revolution in developing countries such as China and India account for the majority demand in the market. Expansion of manufacturing capabilities in the APAC region is also generating demand for earthing equipment.
Regional Analysis
By region, the earthing equipment market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America holds the most significant share of the market and is spurred by technological advancements in the electrical equipment industry. The US is the major contributor to the North America market. The presence of leading earthing equipment manufacturers such as Emerson Electric, GE, and Harger Lightning & Grounding is based in the region which gives it unprecedented leverage.
The APAC earthing equipment market is likely to witness the highest rate of growth over the forecast period. Even though major earthing equipment players based in the US, non-US-based companies are setting up operations in the APAC region to capitalize on the tax benefits offered by the governments in the region. Moreover, the cost of operating in the APAC is relatively lesser than in other regions which acts as an advantage.
Competitive Landscape
Schneider Electric (France), Crompton Greaves, Eaton (Ireland), ABB Ltd (Switzerland), Alstom SA (France), Toshiba (Japan), GE (US), Kingsmill Industries UK Ltd., Harger Lightning & Grounding (US), and Emerson Electric (US) are the notable players in the global earthing equipment market.
Industry Updates
November 2018 – Embattled power utility Eskom and the African Development Bank (AfDB) entered into an agreement to improve power transmission in Southern Africa. The deal would upgrade sub-station equipment including earthing systems at various sub-stations in Mpumalanga.
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Key Questions Addressed by the Report
What was the historic market size?
Which segmentation (Product/ Capacity) is driving market?
What will be the growth rate?
How are the key players in this market?
What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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