Earthing Equipment Market Size, Share, Growth Analysis, By Product(MS Earthing Flat, GI Earthing Flat, CI Earthing Flat, and Others), By Application(Residential, Industrial, and Commercial), By Region - Industry Forecast 2024-2031

Global Earthing Equipment Market size was valued at USD 5 billion in 2022 and is poised to grow from USD 5.28 billion in 2023 to USD 8.1 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

Earthing is the process of transferring electricity directly to the earth plate by utilizing low resistance cables and wires and the equipment used for this process is known as earthing equipment. Growing use of electricity and rapidly expanding construction industry are forecasted to benefit the demand for earthing equipment over the coming years. Increasing number of high-rise buildings around the world and rising need for earthing equipment in them is also slated to bolster market development going forward. Earthing helps protect appliances and machines from damage due to surge in electric voltage, which makes it an essential component of modern infrastructure. Increasing urbanization and industrialization also play a vital role in boosting the demand for earthing equipment in the future.

The Middle East region is slated to be a highly opportune space for earthing equipment providers owing to the launch of several new megaprojects focusing on the development of skyscrapers. However, complex design and implementation challenges could hamper earthing equipment market development to a certain extent across the forecast period.