The global earthing equipment market is forecast to grow at a CAGR of 6.12% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: Demand for turnkey solutions will be a key trend for market growth. In order to survive the intensely competitive market environment, vendors direct their efforts toward offering differentiated products to end-users.
However, the market lacks new, upcoming technologies in the field of earthing and grounding systems. Thus, vendors are focusing on establishing long-term relationships with end-users by offering turnkey solutions. These solutions provide installation of the earthing and grounding equipment along with complete electrical wiring systems, and testing of the protection systems.
According to the report, one of the key drivers for market growth will be rise in demand from power sector. The global rise in energy consumption and growing electricity demand has resulted in the massive development of power generation, distribution, and transmission infrastructure. Growing investments to scale up electricity transmission and distribution infrastructure is a potential driver of the global earthing equipment market. The global electric power transmission network market is expected to rise from 5.48 million Ckm in 2014 to 6.6 million Ckm in 2019, growing at a CAGR of 2.80%.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?