The ever-expanding global telecommunications sector is driving up demand for grounding bars, which had a global market value of US$ 880.5 million in 2016. Further, the market is anticipated to grow at a CAGR of 3.8% from 2017 to 2025. Telecommunications grounding bars play a critical role in ensuring the protection of expensive telecommunication equipment installed in various commercial buildings. Lack of effective bonding and grounding in commercial buildings can result in damage to the telecommunications equipment, further leading to costly downtime. As a result, various governments around the world have made appropriate grounding and bonding within commercial buildings mandatory. One of the most common standards followed across the world is ANSI/TIA-607-B, which encompasses various spaces such as data centers and computer rooms within commercial buildings. Thereby, grounding bars are deployed at numerous establishments such as networked buildings, office parks, banking, and financial institutions, educational facilities, hospitals, data transaction centers, retail stores, restaurants, movie theaters, amusement parks, and other commercial buildings.
Market Synopsis
Telecommunications Grounding Bars will account for the majority of the market share from 2017 to 2025.
In 2016, the global grounding bar market was dominated by the telecommunications grounding bars (TGBs) segment. The segment accounted for the majority of the global grounding bar market value in the same year. The trend is expected to continue, and the segment is presumed to maintain its dominant position throughout the forecast period from 2017 to 2025. Higher requirements for TGBs as compared to the telecommunication main grounding bars (TMGBs) as per the grounding and bonding architecture have been the primary factor resulting in the higher share of this segment in the overall market. With continued expansion and renovation of telecommunication and commercial facilities across the world, the TGBs segment is expected to witness continued growth in the following years.
Rapidly developing infrastructure in the Asia Pacific to stimulate the region's grounding bar market.
The Asia Pacific region accounted for the largest share of the overall grounding bar market across the globe in 2016. The region has a large concentration of commercial buildings in numerous countries, including China, India, Australia, Japan, and South Korea, among others. Moreover, factors such as increasing investment in the commercial sector coupled with economic growth in the region are further expected to drive the demand for grounding bars in the Asia Pacific market. North America and Europe followed the Asia-Pacific region in terms of market value in 2016. With the continued development of data centers and other commercial buildings, the markets in the regions are expected to witness steady growth during the forecast period from 2017 to 2025. On account of the limited existing commercial infrastructure in the MEA and Latin America regions, the market value of grounding bars in these regions is lower in the current scenario. However, due to increasing commercial construction activities in these regions, the MEA and Latin America grounding bar markets are set to grow at a considerable CAGR throughout the forecast period from 2017 to 2025.
A fragmented market offers several roadblocks for grounding bar manufacturers to grow.
Telecommunication grounding bars are simple to manufacture and do not require any special manufacturing processes or machinery. Owing to this factor, the telecommunication grounding bars market is highly fragmented, with several small, medium, and established companies contributing to the market. The market offers a highly competitive environment, with companies striving to claim their share of the market by adopting several business strategies. The majority of grounding bar manufacturers emphasize enhancing their product availability through strategic alliances with distribution partners. The entry barriers for new entrants are low due to the simplicity of the product; however, these new entrants have to put in additional hard work in order to survive the cut-throat competition. The majority of manufacturers are focusing on developing countries in Asia, the Middle East, Africa, and Latin America. Growing infrastructure is providing tremendous opportunities for grounding bar companies to grow and establish their businesses. In addition, companies use strategies such as acquisitions, strategic alliances, and brand promotions to maintain their market position.
Frequently Asked Questions:
The market for Grounding Bars Market is expected to reach US$ 880.5 Mn by 2025.
The Grounding Bars Market is expected to see significant CAGR growth over the coming years, at 3.8%.
The report is forecasted from 2017-2025.
The base year of this report is 2016.
Erico International Corporation, Storm Power Components, Photon Communications & Electrical Supply, Co., Chatsworth Products, Inc. are some of the major players in the global market.
