Posted On: 2020-04-10
Rod Earthing is expected to hold the largest market share in revenue terms during the forecast period – 6W research.
Earthing system or grounding system connects parts of installation with the conductive surface of the earth for functional purposes and safety. They are used to decrease the risk of electric shock from current leaking from uninsulated metal parts of electrical devices and others. The earthing equipment includes insulated operating rods, pruning heads, clamp sticks, specialist application heads, low voltage earthing kits, earth clamp application heads, and operating rod bags.
According to 6Wresearch, Saudi Arabia Earthing Market size is projected to grow at a CAGR of 2.8% during 2020-26. The overall demand for earthing is anticipated to grow at a steady pace on account increasing the requirement of earthing solutions generated by growth in the industrial and residential sectors. The rise in industrial and manufacturing plants in the region due to increasing industrialization would increase the requirement of earthing equipment during the forecast period. The earthing market in the region registered a decline during the first half of 2020 on account of the global economic slowdown caused by COVID-19, however, the aforementioned market is expected to recover post-2020.
According to Prithu Chawla, Senior Research Analyst, 6Wresearch, “The rods segment dominated the earthing segment in 2019 and is anticipated to continue dominating the Saudi Arabia earthing market on account of their higher prices and utility in the industrial sector which gives these rods an edge over other substitutes in the market.
“Rod earthing can be used for various diversified earthing applications in the areas having aggressive soil conditions such as heavy salt content amongst others and have utilities in electrical, electronic and automobile instruments as well. However, the fluctuating prices of metal have the potential to inhibit the growth of rod earthing products in the market.” Prithu further added.
According to Siddharth Saxena, Research Associate, 6Wresearch, “The copper bonded earthing is anticipated to contribute the maximum market share during the forecast period and therefore dominate the market in terms of revenue due to its cost-effectiveness and its ability of high resistance to corrosion. The copper bonded earthing market is anticipated to grow at a spurring rate during the forecast period due to higher efficiency, utility and cost-effectiveness of the copper bonded earthing system as compared to other substitute products in the market.”
“Saudi Arabia Earthing Market (2020-2026)" provides an in-depth analysis with 35 figures, covered in 70 pages. The report estimates and forecasts the overall Saudi Arabia earthing market by types and rod earthing types. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.