USD 5 billion
Global Earthing Equipment Market Size, Share, Growth Analysis, By Product(MS Earthing Flat, GI Earthing Flat), By Application (Residential, Industrial) - Industry Forecast 2024-2031
Report ID:
SQMIG20E2074 |
Region:
Global |
Published Date: March, 2024
Pages:
157
|
Tables:
64 |
Figures:
72
Global Earthing Equipment Market Insights
Global Earthing Equipment Market size was valued at USD 5 billion in 2022 and is poised to grow from USD 5.28 billion in 2023 to USD 8.1 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).
Earthing is the process of transferring electricity directly to the earth plate by utilizing low resistance cables and wires and the equipment used for this process is known as earthing equipment. Growing use of electricity and rapidly expanding construction industry are forecasted to benefit the demand for earthing equipment over the coming years. Increasing number of high-rise buildings around the world and rising need for earthing equipment in them is also slated to bolster market development going forward. Earthing helps protect appliances and machines from damage due to surge in electric voltage, which makes it an essential component of modern infrastructure. Increasing urbanization and industrialization also play a vital role in boosting the demand for earthing equipment in the future.
The Middle East region is slated to be a highly opportune space for earthing equipment providers owing to the launch of several new megaprojects focusing on the development of skyscrapers. However, complex design and implementation challenges could hamper earthing equipment market development to a certain extent across the forecast period.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Commercial
Fastest Growth
Residential
Growth Rate
5.5% CAGR
Global Earthing Equipment Market ($ Bn)
Country Share for North America Region (%)
Global Earthing Equipment Market By Application ($ Bn)
Global Earthing Equipment Market By Application (%)
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Global Earthing Equipment Market Segmental Analysis
The global earthing equipment market is segmented based on product, application, and region. In terms of product, the market is segmented into MS earthing flat, GI earthing flat, and CI earthing flat. Based on application, the market is divided into residential, commercial, and industrial. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Product
CI earthing flat accounts for a dominant share of the global earthing equipment market. This region's high market share can be attributed to the robust increase in infrastructure development activity worldwide. Low resistance and strong electrical conductivity make CI earthing flat a preferred choice for earthing in different residential and commercial structures. The ability of CI earthing flat to withstand robust mechanical loads also contributes to the high market share of this segment. Excellent corrosion resistance is also an added benefit that drives the demand for CI earthing flat around the world.
Demand for GI earthing flat is projected to increase at a good pace over the coming years. The low costs of GI earthing strips are the major factor contributing to the rapid growth of this segment. Moreover, galvanization of earthing strips also includes other benefits such as they become electrical wiring safe. The cost benefits associated with this type of earthing product will drive the growth of the segment going forward.
Analysis by Application
The industrial application segment is projected to account for a notable share of the global earthing equipment market. Rapid industrialization and growing focus on safety in different industry verticals are slated to bolster sales of earthing equipment in the future. Imposition of stringent electrical safety mandates by governments and regulatory bodies to ensure worker safety are also estimated to promote the adoption of earthing equipment in industries going forward.
Residential application is forecasted to bolster earthing equipment market growth at a rapid pace. This can be attributed to the growing residential construction activity and rapid urbanization around the world. Increasing the number of people willing to spend on buying homes and growing disposable income of people in developing economies will also contribute to the rapid growth of the residential segment in the long run.
Global Earthing Equipment Market By Application, 2023 (%)
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Global Earthing Equipment Market Regional Insights
North America accounts for the highest share of the global earthing equipment demand outlook. This can be ascribed to advanced infrastructure equipped with robust earthing equipment to keep it safe. Rapid adoption of advanced electrical technologies in residential as well as commercial applications will also offer new opportunities for earthing equipment companies in this region. The United States is estimated to be the most important market in this region across the forecast period.
Rapid infrastructure development activity in the Asia Pacific region is slated to bolster earthing equipment sales as the fastest pace in this region over the coming years. High investments in construction industry, growing disposable income, and rising focus on safety are other factors that could promote the sales of earthing equipment in this region going forward. China, Indonesia, Japan, and India are slated to be the top markets in this region where demand for earthing equipment is slated to surge in the long run.
Global Earthing Equipment Market By Region, 2024-2031
- Largest
- Fastest
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Global Earthing Equipment Market Dynamics
Drivers
Urbanization & Industrialization
- On a global level, industrialization and urbanization have been increasing at a rampant pace and these trends are fostering new construction activity, which in turn is driving up the sales of earthing equipment. Construction of high-rise structures is also favoring earthing equipment market growth.
Emphasis on Electrical Safety
- Electrical networks have become a crucial part of our infrastructure and safeguarding them is of the utmost importance in most cases, hence increasing emphasis on improving electrical safety will bolster the demand for earthing equipment going forward.
Restraints
Lack of Standardization
- Regulatory requirements for earthing equipment are not the same for all parts of the world and this lack of standardization could hurt earthing equipment sales and slow down the overall market growth prospects in the future.
Complex Design and Installation
- Installing and developing earthing equipment is a highly complex task as even the minutest of details could be the difference between disaster and success. This is what could limit the adoption of earthing equipment in critical infrastructure.
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Global Earthing Equipment Market Competitive Landscape
Earthing equipment manufacturers should focus on utilizing unique materials to increase the efficiency of their products. Companies should invest in product innovation and expansion of product portfolios to stand out from the competition. Mergers, collaborations, acquisitions, and partnerships are some other strategies that earthing equipment market players can opt for if they wish to expand their business scope and reach on a global level. Companies should also focus on the development of standardized earthing equipment that is compliant with the regulations of most countries and if not create modular products that can easily be made compliant by adding one or two accessories.
Top Player’s Company Profiles
- Eaton
- ABB Ltd.
- SG Power Products Private Limited
- Shree Vasudha Company - Gel Earthing Electrode
- Socome Power
- Emerson
- Cisak
- Alstom SA
- GE
- CG Power and Industrial Solutions Limited (Avantha Group)
- Toshiba
- Takigen Mfg Co. Ltd.
- Raychem RPG Private Limited
- Crompton Greaves
- Harger Lightning & Grounding
- Kingsmill Industries UK Ltd.
- Schneider
Recent Developments
- In 2021, Schneider Electric, a French multinational organization known for supplying electric equipment, announced the launch of a new earthing system called Easy9. The new system features a compact and simple design for ease of use.
- In May 2021, Siemens Energy, a renowned provider of power and energy solutions, announced that it had won a contract to supply gas-insulated earthing switchgear to Finland’s transmission system provider.
Global Earthing Equipment Key Market Trends
- Green Building: Increasing focus on sustainability around the world has led to the creation of new green and sustainable building wherein the demand for advanced earthing equipment is projected to increase and create new opportunities for earthing equipment market players in the future.
Global Earthing Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the increasing number of construction projects being launched around the world are driving up the demand for earthing equipment. Rapid urbanization, rising focus on electrical safety, construction of high-rise buildings, and increasing industrialization are other factors that are estimated to bolster sales of earthing equipment in the future. However, the lack of standardization is slated to pose challenges for earthing equipment suppliers across the forecast period and beyond. North America accounts for a dominant share of the global earthing equipment market owing to the presence of advanced infrastructure and quick adoption of advanced electrical technologies. Rising adoption of green building practices could open new avenues of opportunities for earthing equipment companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5 billion |
| Market size value in 2031 | USD 8.1 billion |
| Growth Rate | 5.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Earthing Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Earthing Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Earthing Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Earthing Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Earthing Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Earthing Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Earthing Equipment Market Report Snapshots
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