LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global grounding bars and rods market to grow at a CAGR of more than 3% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global grounding bars and rods market for 2017-2021. The market is segmented based on end-user (construction industry, manufacturing sector, power industry, and telecom and data center industry), and geography (APAC, the Americas, and EMEA).
The growth of the global grounding bars and rods market is driven by the increasing demand from the construction industry in APAC. The growth in residential and non-residential construction has propelled the installation of grounding bars and rods to protect personnel and equipment from electrical hazards. The increase in demand for power, especially from developing countries, will also positively contribute to the demand for grounding bars and rods.
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Technavio energy research analysts highlight the following three factors that are contributing to the growth of the global grounding bars and rods market:
- Growth in construction industry in APAC
- Increase in demand for power
- Regulatory standards for grounding bars and rods
Growth in construction industry in APAC
Grounding bars and rods are used in every building, be it commercial or residential. These are safety equipment that is necessary for all buildings. With proper grounding, a connection is created between sensitive electrical equipment and the ground. This connection protects personnel and equipment from damaging surges during dangerous electrical events.
Sayani Roy, a lead power research analyst at Technavio, says, “The growth of the construction industry, especially in APAC, plays a significant role in boosting the global grounding bars and rods market. New constructions in the residential, commercial, and industrial sectors have increased the demand for grounding bars and rods. Innovations in building design and increased focus on energy efficiency for buildings have created an opportunity for manufacturers to expand their foothold in the grounding bars and rods market.”
Increase in demand for power
The rise in industrialization and rapid infrastructure development across the world has created a huge demand for electricity. To meet the electricity demand, countries are increasing their installed power capacities. In the coming years, China and Japan have humungous plans to increase their coal power capacities. Japan is expected to invest heavily in coal power infrastructure during the forecast period.
“Each power tower requires appropriate grounding to protect and provide safety. Grounding systems conduct the electricity and high voltage from the power tower and channel it to the earth. Grounding rods and bars are used for this purpose in all electrical equipment. As grounding bars and rods play an important role in power towers and infrastructure, it is clear that the continuous generation of power via new and existing power plants will propel the demand for grounding bars and rods,” adds Sayani.
Regulatory standards for grounding bars and rods
Grounding bars and rods are essential electrical components that are used to protect people and equipment. These bars are made from current attracting materials that are installed to the earth. In the event of a lighting striking the building, the current will pass through the conductive material and will end up being grounded into the earth through these bars. The most common types of grounding bars are made of copper, steel, and galvanized steel. These materials need to adhere to NEC regulations to ensure they are fit for use.
Top vendors:
- A.N. Wallis
- Galvan Industries
- INDELEC
- Nehring Electrical Works
- Pentair
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