Global Substation Grounding System Market: Overview

Safety is any business is major parameter that every business owner must keep account of. Any negligence can bring catastrophe to not just the employees in the facility but also to the population living in close proximity of the business facility. Electric discharge or uncontrolled power surge can bring havoc to the building or area located near to the affected building. To ensure safety from such non-welcomed events, businesses are using grounding techniques to disperse the uncontrolled electric charge to earth. Due to rising adoption of grounding techniques especially by power plants across the world, the global substation grounding system market is experiencing a consistent growth in the forecast period of 2019 to 2027.

Providing insights of facets such as current trends, major drivers, and challenges of the market, the report by Transparency Market Research pertaining to global substation grounding system market supports businesses to have a sustainable future in forecast period of 2019 to 2027.

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Global Substation Grounding System Market: Notable Developments

The global substation grounding system market has a highly competitive and fragmented scenario as of now and is expected to remain unchanged throughout the estimated tenure. Moreover, opportunities like handsome profit quotient, are also attracting new players in the market which is further intensifying the competition. To withstand the competition, players are opting various organic and inorganic strategies.

Organic strategies such as product launches, affordable services deployments, product approvals, and patents allow the players to acquire and maintain a stronghold over the global substation grounding system market. These strategies allows the players to expand the customer reach influencing their profit margin.

On the other hand, inorganic activities such as partnerships, mergers, and acquisitions are also supporting players of global substation grounding system market to gain a competitive edge over their rivals. These strategies along with helping players to avail essential resources for a sustainable future in the market also allows to enhance their production capacity and technological expertise that allows them to lure more customers than their rivals.

Some of the players of global substation grounding system market are:

  • E&S Grounding Solutions
  • Hubbell
  • Siemens AG
  • ABB Group
  • Southwire Company, LLC
  • E&S Grounding Solutions

Global Substation Grounding System Market: Key Drivers

Upcoming Infrastructural Projects Calls for Massive Grounding Services

Countries like India, China, and the U.S. are investing a major portion of their annual budgets in improving or developing their infrastructure. This is allowing the governments to initiate massive projects that can boost the economy of their countries. It has become prime requisite for the construction industry to ensure that these projects are not hampered by massive electrical discharge while operating. This demand for securing the projects from lightning storms and power surge due to short-circuit calls for a robust grounding systems or services that can help the stakeholders to ground the electric charge. This boosted demand for grounding systems is the key factor that is fueling the growth of global substation grounding system market in the projected time frame of 2019 to 2027.

Residential Sector to Support Substantially

There are various upcoming infrastructural projects that purely residential. Since there is a massive scarcity of land, so these projects are in form of multi-story buildings. These buildings are at constant risk from massive jolts occurring during a lightning storms. To prevent these buildings and assets these buildings hold from getting fried, the builders are installing grounding systems at the top of these buildings. With the advancements in the number of these housing projects, the demand for grounding systems have skyrocketed in past few years. As a result, the global substation grounding system market is witnessing a robust growth in the forecast period of 2019-2027.

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Substation Grounding System Market: Regional Analysis

Asia pacific excluding Japan is witnessing major investments by their respective governments for various power plants, commercial and public infrastructures. Due to several upcoming infrastructure projects in countries like China and India, Asia Pacific excluding Japan or APEJ is expected to emerge as one of the most lucrative region for the players of global substation grounding system market in the projected time frame of 2019 to 2027.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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