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The latest report by IMARC, titled “ EarthingEquipmentMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandForecast2 023-2028
” 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 lowresistance 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.
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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).
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
MarketSummary:
BreakupbyProduct:
• MS Flat
• CI Flat
• GI Wire
BreakupbyApplication:
• Residential
• Commercial
• Industrial
BreakupbyRegion:
• North America
• United States
• Canada
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
CompetitiveLandscapewithKeyPlayers:
• 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
ViewFullReportwithTOC&ListofFigure: https://www.imarcgroup.com/earthing-equipment-market
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