Industrial Plugs And Sockets Market
Latest and updated Industrial Plugs And Sockets market study with COVID19 impact, offers country-wise market projections, brand share analysis, deep-dive analysis on pre-corona & after corona impact, opportunity assessment, and detailed competitive intelligence section.
Global Market Study on Industrial Plugs and Sockets: Rising Implementation of Building Automation Spurs Demand
- Report code : PMRREP23317 |
- Industry : Industrial Automation |
- Published On : Nov-2019 |
- Pages : 373 Pages |
- Format :
Replacement and Reconditioning of Aging Power Transmission Network to Create Significant Demand
The concept of modernizing electricity and power grids by establishing a network of safe, secure, efficient, sustainable, and economic power supply has been gaining steam lately. The current grid network has become unreliable and inefficient, and is also one of the main causes of greenhouse gas emissions globally. With growing inclination towards green energy, replacement of the grid network with smart grid has been gaining popularity over the past decade, and is anticipated to elevate the demand for industrial plugs and sockets. Smart grid network can help reduce greenhouse gas emissions by up to 211 million metric tons, and is estimated to pull-in investments worth US$ 400 Bn by 2020.
The need for energy savings, and the development of automated and trans-active power distribution networks is prominent among countries like the U.S., India, China, Indonesia, and Canada, where the demand for industrial plugs and sockets is prominent. This, coupled with the need to curb energy losses and develop a sustainable energy eco-system, is anticipated to create elevated demand for industrial plugs and sockets over the forecast period.
High Durability and Water Resistance to Drive Demand for IP 66/67-rated Industrial Plugs and Sockets
Industrial plugs and sockets are widely used in harsh environments owing to their ability to provide better durability as well as resistance against water, chemicals, dirt, temperature and pressure. Hence, industrial plugs and sockets are extensively used in underground mining, construction, as well as underwater and offshore oil & gas exploration activities, where the environment possesses great challenge for the installation and use of wires and plugs. This has been driving the demand for IP 66/67-rated industrial plugs and sockets, due to their superior durability characteristics.
Implementation of Building Automation in Urban Areas to Create Significant Growth Opportunities
The growing need to establish safe and efficient operation of building HVAC and other electrical systems is expected to create ample growth opportunities in the industrial plugs and sockets market. Rising concerns for global warming and energy conservation are driving building automation concept in urban areas, which is expected to present untapped potential for industrial plugs and sockets.
Industrial Plugs and Sockets Market: Competitive Landscape
The industrial plugs and sockets market landscape is fragmented with a number of players competing for their share of market. Manufacturers like Amphenol Corporation, Schneider, Emerson Electric Co., Siemens AG, Havells, ABB Group, TE Connectivity, Mennekes, Eaton and Legrand SA have a global market presence and make up the top tier of the market structure with a combined revenue of US$ 800 Mn from the sales of industrial plugs and sockets.
Growing Vendor Consolidation by Leading Companies
Over the last few years, industrial plugs and sockets market has been witnessing an increase in the number of acquisitions by top tier manufacturers to complement their business model and strengthen their footprint in regional markets.
- In July 2018, Eaton acquired a specialty manufacturer of medium-voltage electrical equipment, Innovative Switchgear Solutions Inc. (ISG), from North America.
- In July 2018, ABB completed the acquisition of GE industrial solutions. This development is expected to enhance the company's electrification business segment.
Analyst’s Viewpoint
A detailed view of the global industrial plugs and sockets market has led our analyst to conclude that the market is growing at a steady pace on the back of rising power distribution expansion activities. East Asia is anticipated to dominate the industrial plugs and sockets market in terms of demand and growth by CAGR, while the IP 66/67-rated products segment is projected to witness high growth.
Industrial Plugs and Sockets Market – Market Perspective
Persistence Market Research’s (PMR) recent market study on the global industrial plugs and sockets market provides key insights into market drivers, challenges, opportunity analysis, and trends, along with detailed analysis of the industrial plugs and sockets market structure. The industrial plugs and sockets market study provides key and precise stats and figures explaining how the market is projected to grow during the forecast period.
Key market growth indicators, like year-on-year (Y-o-Y) growth, supply chain analysis, and compounded annual growth rate (CAGR), are detailed in PMR’s research report with supporting macro-economic and forecast factors. This will help readers to understand the market projections of the industrial plugs and sockets market, in a quantifiable manner.
The study is relevant for distributors, investors, manufacturers, suppliers, and stakeholders. It can help them understand the growth strategies implemented by various players in the industrial plugs and sockets market. Investors, stakeholders, researchers, industry experts, and journalists in the industrial plugs and sockets market can benefit from the information and statistics presented in PMR’s research report.
The report also present facts & figures related to the macro-economic factors that are estimated to impact market growth of industrial plugs and sockets on a global level. The study also offers actionable insights based on the future projections in the industrial plugs and sockets market. Additionally, regional manufacturers and new players in the industrial plugs and sockets market can also leverage the information available in the industrial plugs and sockets report to make key marketing and strategic business decisions in the market.
Key Segments of Industrial Plugs and Sockets Market
PMR’s study on the industrial plugs and sockets market is divided into six different segments- product type, IP rating, voltage rating, ampere rating, end-use industry, and region. This report offers comprehensive data and information about the important industrial plugs and sockets market dynamics and growth parameters related to these categories.
|
Product Type |
IP Rating |
Voltage Rating |
Ampere Rating |
End-Use Industry |
Region |
|
|
|
|
|
|
Key Questions Answered in PMR’s Industrial Plugs and Sockets Market Report
- Which segment is expected to dominate the market share over the forecast period?
- What will be the key factors driving the demand for industrial plugs and sockets in Latin America during the forecast period?
- How current trends will transform the industrial plugs and sockets market?
- What are the significant market players doing in the industrial plugs and sockets market?
- What are the crucial strategies of prominent players in the industrial plugs and sockets market to upscale their positions in this landscape?
Industrial Plugs and Sockets Market: Research Methodology
In PMR’s industrial plugs and sockets report, exclusive research methodology is utilized to conduct comprehensive research on the development of the industrial plugs and sockets market and reach conclusions on the future growth prospects of the market. In this research methodology, secondary and primary research is utilized by assistant analysts to ensure precision and reliability of the conclusions.
Secondary resources referred by analysts during the evaluation of the industrial plugs and sockets market study include facts and figures from World Bank, manufacturer websites, government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industrial plugs and sockets industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, and production managers to provide insightful information.
Comprehensive information acquired from primary resources and secondary resources is validated from companies in the industrial plugs and sockets market to make PMR’s projection on the growth prospects of the industrial plugs and sockets market more accurate and reliable.
Companies covered in Industrial Plugs And Sockets Market Report
- Legrand SA
- TE Connectivity
- Eaton Corporation PLC
- Emerson Electric Co.
- ABB Ltd
- Seimens AG
- Schneider Electric
- Havells India Ltd.
- Amphenol Corporation
- Marechal Electric
- Mennekes Elektrotechnik GmbH & Co. KG
- Palazzoli S.p.A.
- Bals Elektrotechnik GmbH & Co.KG
- Ferdinand Walther GmbH
- Andeli Group Co., Ltd.
- Lewden Metal Products Limited
- Scame Parre S.p.A.
