The earthing equipment Market is expected to reach $7,140.2 million by 2025, At a CAGR of 5.8% forecast by 2025
PORTLAND, OR, UNITED STATE, February 24, 2023 /EINPresswire.com/ — The Earthing Equipment Market also known as grounding equipment, refers to a set of devices that are used to provide an electrical connection between the earth and a conductive object or system, such as a building or a power grid. This connection is necessary to prevent the build-up of static electricity, protect against lightning strikes, and ensure the safe operation of electrical equipment.
The Global Earthing Equipment Market is expected to reach $7,140.2 million by 2025, from $4,542.3 million in 2017, growing at a CAGR of 5.8% from 2018 to 2025
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The Earthing Equipment Market is driven by factors such as the increasing focus on safety in industries, the growing demand for reliable power supply, and the surge in renewable energy installations. The construction and power industries are among the major end-users of earthing equipment, with a growing need for reliable grounding systems to ensure the safety of workers and equipment.
Leading market players in the global Earthing Equipment Market include:
ABB, Alstom, Crompton Greaves, Eaton, Emerson Electric, GE, Harger Lightning & Grounding, Schneider Electric, Kingsmill Industries UK Ltd, and Toshiba.
The automotive and aerospace industries are also emerging as significant markets for earthing equipment, driven by the increasing use of electronic components and the need to ensure reliable grounding in high-voltage systems.
The Asia Pacific region is expected to witness the fastest growth in the earthing equipment market, due to factors such as rising investments in infrastructure and increasing demand for reliable power supply in developing countries.
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KEY BENEFITS FOR STAKEHOLDERS
This study contains an analytical representation of the Earthing Equipment market trends with present trends and forthcoming estimations to portray the imminent investment pockets.
The report provides the overall potential to understand the lucrative trends to gain a stronger base in the Earthing Equipment market.
The Earthing Equipment market analysis report offers statistics based on key determinants along with thorough impact analysis.
The present market forecast is quantitatively examined to target the financial capability.
Porter’s five forces analysis demonstrates the strength of the consumers and suppliers in the industry.
Region-wise, the global Earthing Equipment market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global Earthing Equipment market share, and LAMEA is anticipated to secure a leading position during the forecast period
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Article originally published on www.einpresswire.com as Surge in Demand for Earthing Equipment Market to Reach USD $7,140.2 Million, Globally, Forecast by 2025