Grounding Rods Market Size, Share, Growth, and Industry Analysis by Type (Galvanized Grounding Rod, Copper-Bonded Ground Rods, Graphite Grounding Rod, Others), by Application (Construction Industry, Manufacturing Sector, Power Industry, Telecom and Data Centre Industry, Others), Regional Insights, and Forecast To 2032

• 

   Request a Free Sample To Get More Information on this Market

Grounding Rods Market Report Overview

The global grounding rods market size was USD 0.26 billion in 2023 and the market is projected to touch USD 0.36 billion by 2032 at a CAGR of 3.78% during the forecast period.

Grounding rods are metal rods that are inserted into the earth to provide a physical connection between an electrical conductor and the ground. This prevents electric current from flowing through the earth and potentially causing damage to property or people. Rising urbanization along with industrialization has led people living in rural areas towards cities where they find employment opportunities presented by large manufacturing units functioning within a worldwide supply chain network. The manufacturing sector is foreseen to witness firm growth over the forecast period on account of rising investments in various sectors such as automotive, aerospace & defense, and electronics. The demand for high quality and environment friendly products is increasing in various end-use sectors. Therefore, crucial producers are focusing on technological advancement in production of high-quality chemicals.

The upsurge in constructions in the residential, commercial, and industrial sectors will increase the demand for grounding rods. Improvements in building design and the increased focus on energy efficient solutions for buildings have increased the opportunities for vendors to strengthen their presence in the grounding rods market. They are safety components utilized for current safety management that limits all possibilities of lighting damage or electrical hazard damage. Galvanized grounding rods are used in electrical applications to provide a secure connection between the service ground and the building structure. They are also used as part of a lightning protection system. The product is manufactured from aluminum, which is then coated with zinc to protect it against corrosion. Participating are fixing their efforts on encouraging R&D. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Technological development are supporting the regional market growth. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact:Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

The global COVID-19 pandemic has been unprecedented and staggering, with grounding rods market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over.

COVID-19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID-19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market

Latest Trends

"Use Of Innovative Products To Boost The Market Growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market.Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings.Constant innovation in manufacturing of products is anticipated to stimulate product demand.

Grounding Rods Market Segmentation

• By Type

According to type, the market can be segmented into galvanized grounding rod, copper-bondedgroundrods, graphite grounding rod, others.

Galvanized grounding rod will capture the maximum market share through forecast period.

• By Application

According to application, the market can be segmented into construction industry, manufacturing sector, power industry, telecom and data center industry, others.

Grounding rods market players cover segment as telecom and data center industry will dominate the market share during forecast period.

Driving Factors

"Increase In Demand For Telecom Industry To Boost The Market Growth"

Telecom and data center industry is anticipated to grow at a substantial rate due to amplified demand from telecom companies, internet service providers, enterprises, governments, and other end-use industries. Each industry depends on Information Technology & Telecommunication to help businesses generate pioneering products and services while reducing company processes and enhancing efficiency. The demand is motivated by the growth of these industry which is anticipated to enhance market growth.

"Technological Advancement And Development To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the grounding rods market growth. Growing investment in research and development activities and growing awareness about benefits of grounding rods are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices.

Restraining Factors

"Price Fluctuation To Hamper The Market Growth"

Fluctations in price is hampering development of grounding rods market. Fluctuations in raw material prices may impact the market growth. Raw materials plays an important role in this industry.Sudden price increases or supply disruptions can affect the profitability of market players.

• 

   Request a Free Sample To Get Analysis on Major Geographic Market

Grounding Rods Market Regional Insights

"Asia Pacific To Dominate The Region Due To Rapid Urbanization"

Asia Pacific is further expected to witness growth in the grounding rods market share. The region is dominating the market due to rapid urbanization, increasing population, rising disposable income levels, and growing infrastructure activities in these countries. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

Key Industry Players

"Key players focus on partnerships to gain competitive advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Top Grounding Rods Companies

• Eastland Switchgears (U.S.)
• Cirprotec (Germany)
• Gmax Electric (Japan)
• Harger (U.S.)
• Zhejiang Jinhua Zhongtai Technology Co., Ltd. (China)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.