Grounding Sheet Market Estimated To Witness High Growth Owing To Growing Demand From Power Industries

The Grounding Sheet market is estimated to be valued at USD 824.1 Mn in 2024 and is expected to exhibit a CAGR of 35% over the forecast period 2024- 2031, as highlighted in a new report published by Coherent Market Insights.

The grounding sheet market is witnessing high growth owing to rising demand from the power industry and increasing investment in renewable energy projects across the globe. Grounding sheets are extensively used in the power sector for earthing power transmission lines, electricity substations, distribution boards, and control panels. Rapid expansion of utilities infrastructure in developing nations to meet the growing demand for electricity is a major factor propelling market growth. Moreover, growing installations of solar panels and wind turbines are also spurring demand for grounding sheets as they are an integral component of grounding systems installed in renewable energy projects.

Key Market Trends:

Copper-bonded grounding sheets remain the largest and most popular type owing to their high conductivity and corrosion resistance. However, manufacturers are focusing on developing aluminum and chemically bonded grounding sheets as aluminum offers better weldability and is more economical than copper. For instance, Harger introduced its line of UL-listed, aluminum equipment grounding conductors with full-time copper bond for establishing effective equipment grounds. Similarly, Bloomberg LP launched its UL-listed Type ABC grounding sheets made from aluminum with an electroplated copper coating on either side, offering the best of both aluminum and copper. Ongoing investments in grid modernization projects especially in developing countries will continue to propel the demand for various grounding sheet types over the forecast period. More coverage can be found in the sample copy.

Grounding Sheet Market Opportunities

The residential segment is expected to grow at a CAGR of 22% during the forecast period. With rapid urbanization and increasing construction of residential buildings, the demand for grounding sheets is increasing in order to provide protection from surges and lightning strikes. Grounding sheets are an essential component for ensuring safety of electronic appliances and devices in homes.

The commercial segment accounts for over 35% of the global grounding sheet market share. Strict safety regulations for infrastructure, telecom towers, data centers and other commercial buildings is driving the adoption of grounding sheets. Rapid growth of the retail and hospitality sectors is also fueling the demand for grounding sheets from the commercial sector.

Key Market Takeaways

The global grounding sheet market is anticipated to witness a CAGR of 35% during the forecast period 2024-2031, owing to increasing infrastructure development projects and stringent government regulations regarding safety and protection of electronic systems.

On the basis of type, copper segment is expected to hold a dominant position, owing to its high conductivity and corrosion resistance. Copper accounts for over 60% share of the global grounding sheet market.

On the basis of material, conductive carbon black filled polymer segment is expected to grow at the fastest rate during the forecast period due to its versatile properties and cost effectiveness.

By region, North America is expected to hold a dominant position over the forecast period, due to stringent safety norms and growing construction industry in the region.

Competitor Insights:

Gaia

Urban Hippee pty LTD

PENTAIR

ABB

Schneider Electric

Nehring Electrical Works

Siemens

GE

Recent Developments in Grounding Sheet Market

In June 2023, Vent signed a pan-European distribution deal with Rexel Group to stock and supply its grounding mats through Rexel’s 3000 branches.Mid-America Grounding struck a warehouse and inventory agreement with Graybar Electric Canada in July 2023 to distribute products across eastern Canada.Flint & Walling forged an online sales alliance with McMaster-Carr in August 2023 to enable easier product research and purchases for contractors and plant engineers. These partnerships allowed manufacturers to multiply sales touchpoints without investing heavily in distribution infrastructure themselves.

In July, Mexican grounding products manufacturer Proquima acquired smaller domestic peer Abaclat, strengthening its distribution network in Central America. Full coverage of the report available here.