Earthing Equipment Market Research Report, By Product (MS Earthing Flat, GI Earthing Flat, and CI Earthing Flat), End-User (Industrial, Commercial, and Residential) and Region — Global Forecast till 2023
The earthing equipment market is expected to grow over the CAGR of around 5.5% during the period 2018 to 2023.
The global earthing equipment market is anticipated to witness sustainable growth during the forecast period. Widespread use of earthing equipment in warehousing and manufacturing industry, the booming construction and earthing equipment industry, is anticipated to improve sales prospects. However, high cost of the raw materials, hinder the growth of the earthing equipment market.
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Asia-Pacific region, to see a gradual increase in the earthing equipment market over the forecast period
Based on region, the global earthing equipment market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America region dominated the global earthing equipment market, followed by Europe and Asia-Pacific, primarily due to the increasing manufacturing sectors that has led to the demand for earthing equipment market. Asia-Pacific is projected to be the most lucrative region with construction industry investing in earthing equipment. Furthermore, various global equipment manufacturers are investing in the manufacturing sector, which is further expected to boost the demand for earthing equipment market. Hence, the earthing equipment market is expected witness a CAGR of 5.5% between 2018 and 2023.
CI earthing flat segment, to witness maximum growth rate in the overall earthing equipment market
Based on product, the CI earthing flat segment, accounted for the highest contributor to the global Earthing Equipment Market in terms of value and volume both in 2017, which is expected to contnue its dominance between 2018 and 2023, which is attributable to the rapid urbanization and increase in construction activities in the industrial and residential projects across the emerging economies. However, the MS earthing flat segment is anticipated to exhibit maximum growth rate in the earthing equipment market between 2018 and 2023. This is attributed to its lucrative features such as high strenght and excellent resistivity against corrosion of the product.
Scope of the Report
This study provides an overview of the global earthing equipment market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific and the rest of the world (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global earthing equipment market by product, end-user, and region.
- MS Earthing Flat
- GI Earthing Flat
- CI Earthing Flat
- North America
- Rest of the World
The prominent players in the earthing equipment market are ABB Ltd (Switzerland), Alstom SA (France), Crompton Greaves, Eaton (Ireland), Emerson Electric (US), GE (US), Harger Lightning & Grounding (US), Schneider Electric (France), Kingsmill Industries UK Ltd, and Toshiba (Japan).
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This post was originally published on Trading Herald