Global Ground Straps Market Overview:
The ground strap or ground wire is the cable that connects the engine block to the chassis. This strap completes the circuit for electrical accessories grounded to the engine block instead of directly to the chassis. A grounding strap is used to protect people and electronic equipment from electrostatic discharges (ESD) by routing the electric current to safe ground.
As per latest study released by AMA Research, the Global Ground Straps market is expected to see growth rate of 20.3%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Market Growth Drivers:
Rising Need for Ground Straps for Unwanted Electrical Shocks and Growing Demand for Ground Straps Owing to Surge in Electrical Damages which Occurs with a Short Circuit
Challenges:
Growth in Modular Data Centers
Restraints:
Stringent Government Rules and Regulation, Grounding for the Protection of Employees
Opportunities:
Potential Growth of Ground Straps In Emerging Countries
Competitive Landscape:
The Ground Straps market consists of few established players accounting for the major market shares. The level of competition among the companies in the Ground Straps market is intense. The companies are seeking ways to reduce cost, improve product quality and production efficiency. During the coming years, a number of companies will also follow Merger and Acquisition and many more strategies to sustain in this competitive market.
Some of the key players profiled in the report are Allied Electronics (United States), BIFFI & PREMOLI (Italy), LG Electronics (South Korea), Desco (United States), Yueqing Koko Electrical Equipment and Legrand (France). Additionally, following companies can also be profiled that are part of our coverage like QuickCable and Grote. Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Ground Straps market by 2030. Considering Market by End User Industry, the sub-segment i.e. Aerospace & Aircraft will boost the Ground Straps market. Considering Market by Material Type, the sub-segment i.e. Aluminum will boost the Ground Straps market.
Latest Market Insights:
In January , 2024 Legrand®, a global specialist in electrical and digital building infrastructures, including data center solutions, has announced its acquisition is complete of ZPE Systems, Inc., a Fremont, California-based company that offers critical solutions and services to deliver resilience and security for customers' business critical infrastructure.
In February 2021, Legrand India, manufacturer of electrical and wiring accessories has launched its new range of home electrical wiring accessories -Myrius Next Gen. Legrand is targeting premium residential and commercial segment with this new range
What Can be Explored with the Ground Straps Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Ground Straps Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Ground Straps
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Ground Straps market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Ground Straps market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Ground Straps Traders, Distributors, and Suppliers, Ground Straps Manufacturers, Government and Regional Agencies, Research Organizations, Consultants and Distributors.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.