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APAC is a Potential Emerging Market for Earthing Equipment Owing to Growth in the Construction Sector, Reports TechnavioAccording to the latest market study released by Technavio, the global earthing equipment market 2016-2020 is expected to grow at a CAGR of more than 6% during the forecast period. This research report titled 'Global Earthing Equipment Market 2016-2020' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions. The emergence of green buildings is a growing trend that will benefit the market, as this will fuel the demand for earthing equipment that are specially designed for such buildings. In addition, growth in the global transmission and distribution infrastructure is resulting in increased demand for earthing equipment from the power sector, which will prove to be a significant contributor to the market growth. Request sample report: http://goo.gl/xIyXXj The report categorizes the global earthing equipment market into three major end-user segments. They are:
Global earthing equipment market by industrial segment The global earthing equipment market in the industrial segment is expected to reach USD 2.5 billion by 2020, growing at a CAGR of more than 6%. Earthing equipment is mainly used in industrial end-users, such as power, oil and gas, manufacturing, and aviation industries. Rising development in these industries widens the scope for applications of earthing equipment used in their electrical systems. Thus, vendors are designing their products specific to requirements quoted by such end-user industries. According to Anju Ajaykumar, a lead analyst at Technavio for tools and components research, "The power industry is witnessing a lot of developments, such as new power capacity additions, transmission and distribution network additions, thus driving the demand for earthing equipment." Earthing equipment plays a vital role in the aviation sector. Static grounding and earthing of aircaft are not only required during parking the vehicle but also while refueling, hot refueling, stores loading, and other activities when external power connection is necessary. All aircraft require externally generated electrical power supplies to facilitate servicing and maintenance. For safe use of these power supplies, aircraft must be correctly grounded. This grounding is necessary to protect aircraft against any potential hazards such as static electrical discharge that can be triggered by external power supplies. The growth of the industrial and aviation sector will lead to growth of the earthing equipment market. Global earthing equipment market by commercial segment The global earthing equipment market in the commercial segment is expected to exceed USD 1.7 billion in 2020, growing at a CAGR of over 4%. A rise in the construction of data centers, IT, telecom, electrification of railway lines, and airports has led to an increase in the demand for earthing equipment across the commercial and infrastructure segment, which is rapidly growing. A supply of uninterrupted and adequate electric power is required for the consistent and reliable operation of servers, computers, and electronic equipment, predominantly in the case of data centers. "These are sensitive equipment that might be damaged owing to a voltage surge in the power grid, therefore, there will be an increased demand for network stability and protection and this is expected to drive the demand for earthing equipment," says Anju. Global earthing equipment market by residential segment The global earthing equipment market is expected to exceed USD 1 billion in 2020, growing at a CAGR of over 8%. The distribution of electricity in a house takes place at the main electrical panel where the outside power comes into the building. Surges in the voltage can damage the panel, overload the sockets, wires, switches, and devices at home. It can also start a fire. Therefore, grounding and earthing is essential. The global residential construction market is projected to grow at a CAGR of close to 9%. With growing urbanization in major developing nations, such as China and India, there is a marked increase in real estate construction activities, thereby resulting in increased requirement for earthing products. The top vendors highlighted by Technavio's heavy industry research analysts in this report are: Browse Related Reports:
Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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