Earthing Equipment Market Global Industry Review 2019 To 2023

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Summary

Market Research Future added New Report Named "Global Earthing Equipment Market Research Report- Forecast 2023" to its Database

Press Release

Earthing system is a process of connecting through a metal link between the body of any electrical appliance, or neutral point to the deeper ground soil. It transfers the electricity directly to the earth plate by low resistance electrical cables. The metal link is normally of MS earthing flat, CI earthing flat, GI earthing flat which should be penetrated to the ground earth grid. Earthing equipment are devices that include fuses and residual current devices, low voltage earthing kits that aids in reducing the risk of electric shock from uninsulated metal parts of electrical devices and others.

The global earthing equipment market is anticipated to witness sustainable growth in the upcoming years which is attributed to the rise in demand for alternative energy sources, and rapid growth of the construction industry in emerging economies such as China, India and other South Asian countries. Moreover, the earthing equipment is also expected to experience rapid growth which is attributed to rise in the consumer electronics industries, across the globe. The growth in the demand for earthing equipment in the developing economies of Asia-Pacific and Latin America has pushed manufacturers to expand their distribution network. The consumer electronics industry has witnessed improved sales volume in India, which is largely driven by increasing population, coupled with rising disposable income levels.

Hence, the global earthing equipment market is expected to witness a CAGR of around 5.5% over the forecast period. However, fluctuating cost of raw materials hampers the growth of earthing equipment market.

Key players operating in the global earthing equipment market includes 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).