India is currently observing a booming market for earthing equipment due to rapid industrialisation, urbanisation and infrastructure development. As part of the Asia Pacific region, India is expected to be one of the fastest growing markets globally on the back of construction activities and government investments into large scale infrastructure projects. It is the development of manufacturing plants, railways, roads and residential buildings. Increasing dependence on electrical safety standards has fueled demand for latest earthing solutions in industrial, commercial and domestic applications. It is necessary for earth equipment, like low resistance cables and grounding rods, to protect from electrical surges and reduce the risk from an electrical fault. This is further accelerating market growth due to the rise in consumer electronics that needs constant grounding, or the reconstruction of aging power grids.
Innovations in smart devices integrated with IoT and AI technologies require efficient earthing systems that are also a boon to the Indian market. Moreover, the sector is on the rise with the growth in alternative energy sources on a global level, and an expanding automobile manufacturing sector. Sustained demand and technological advancements are expected to drive the market to compound annual growth rate (CAGR) of over 5 per cent through 2032. The market looks bright, but the challenges of fluctuating raw material costs may be some hurdles. Nevertheless, the expanding awareness of electrical safety and the requirement of dependable earthing solutions are anticipated to motivate unceasing development in the Indian market.
In this special issue, we introduce you to the top companies in this segment. Industry Outlook has identified the select few companies that have done particularly well with a high level of dedication. We have found that they have gone the extra mile in proving their commitment to excellence in an integrated manner.
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