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Wiring Devices Market Segmented By Current Carrying Devices, Non-current Carrying Devices, Circuit Protection Devices Products
As of 2022, global demand for the wiring devices market is a valuation of US$ 53,231.6 Mn and is forecasted to have a sales revenue of US$ 100,877.0 Mn by the end of 2033 and as of 2023, the wiring devices market is estimated to be US$ 55,627.0 Mn. This huge jump is because, over the course of the next ten years, the wiring devices market is predicted to progress at a CAGR of 6.1%.
Wiring devices are electrical devices that are used to provide points of connection for appliances and low-voltage outlets. Wiring devices include both non-current carrying devices and current carrying devices. Wiring devices are also used to connect low-voltage lighting control system points, switches, and electrical systems.
The growing popularity of smart city projects is driving global demand for wiring devices, many of which are being incorporated in most major cities in the United States, Germany, the United Kingdom, India, and other countries. Many experienced players are supporting smart city projects and attempting to expand their global market share.
Wiring device major market drivers are the hospitality industry, there is a growing demand for wiring devices. Increased use of wiring devices in private residences, Operation that is simultaneously safe and reliable, weatherproof wiring device development
Good quality wiring devices can be used for protection as well as connection and control points for outlets, lighting, and appliances in the home or business. Wiring devices will keep your wiring connected and under control even in extreme conditions.
The market in North America held the largest market share of 23.8% in 2022 and is expected to retain its dominant position throughout the forecast period and demand for the wiring devices market in Europe region held a 19.4% value share in the global market in 2022.
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Wiring Devices Market Size (2022) |
US$ 53,231.6 Mn |
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Projected Market Value (2033) |
US$ 1,00,877.0 Mn |
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Global Market Growth Rate (2023-2033) |
6.1% |
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Current Carrying Devices Market Share (2022) |
42.1% |
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US Market Share (2022) |
16.9% |
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Wiring Devices for Residential Use Market Share (2022) |
41.2% |
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“One of the Major Factors Driving Wiring Device Sales Is the Continued Progress in The Development of Smart City Projects by Various Governments.”
Key players are focusing on designing and producing weatherproof wiring devices for both electricians and homeowners in response to increasing and advanced consumer needs and demands. They include weatherproof electrical box compartments, weatherproof lighting and accessories, and weatherproof wiring device covers.
As a result, the increased development of weatherproof wiring devices is contributing to the global market's growth.
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Get a Customized Version“Rising of smart lighting solutions and smart homes Demand for Wiring Devices in US Market”
The region's demand for wiring devices has increased in alongside the growing demand for smart lighting solutions and smart homes. Companies are offering advanced products with features such as voice and software control, scheduling, and connectivity with leading smart devices.
Furthermore, as the demand for ambient lighting has increased, so has the demand for various types of wiring devices such as switches, connectors, dimmers, and so on.
Due to these reasons, in 2022, the US wiring devices market companies helped the country to account for a dominant share of 16.9% in the global marketplace.
“India has high global CAGR for Wiring Devices Market”
One of the major factors driving wiring device sales is the integration of smart city projects by various governments in a country. India has a large population, and the more people there are, the greater the market opportunity for various products. Because of the growing construction industry, there has been a significant rise in the demand for wiring devices in the country. The country's thriving construction industry is one of the major drivers driving up demand for wiring devices.
One of the major factors driving wiring device sales is the implementation of smart city projects by various governments.
The CAGR for India's adoption of wiring devices markets is predicted to be around 7.2%.
“Germany Holds High Global Market Share in Europe Region”
One of the major factors driving the expansion of the wiring device market is the rise of industries such as hotels, tourism, and real estate. Increased investment in current carrying wiring devices benefits the market as well.
The increased consumption of electric switches and houses accelerates the market growth. The increased use of light dimmers and the incorporation of technology in the wiring field aid in the market's expansion. The increased use of tamper-resistant receptacles regulations in developed economies further influences the market.
Due to this reason, the wiring devices market for Germany in 2022 held a market share of 10.8% in the global wiring devices market.
Which product segment of the wiring devices market holds the largest market share?
“Current Carrying Devices segment of the component allows to Have the Larger Market Share”
Furthermore, rising investments in power generation with a greater emphasis on the use of renewable energy sources, rising demand for uninterruptible power supply, increasing capacity introduction due to urbanization, and network enhancements are expected to drive demand for current-carrying devices globally, thereby driving sales of wiring devices.
In 2022 the, current carrying devices market share was estimated to dominate the global market and account for 42.1% of the total market value share.
Why is the Wiring Devices for Residential Use Segment hold a large market?
“Rising Sale of Wiring Devices for Residential Use”
In 2022, it was estimated that the large enterprise category will account for 41.2% of the market share with a CAGR of more than 7.3% over the forecast period
The market is split into three applications: commercial, industrial, and residential. The Residential segment is estimated to have a larger market share.
The residential application segment, on the other hand, is expected to grow at the fastest CAGR during the forecast period. The increasing demand for smart homes in urban areas can be attributed to the segment's growth.
Manufacturers of wiring devices for residential homes offer products that reflect the successful combination of innovative connected technology and satisfying design aesthetics. Receptacles, connectors, switches, and other wiring devices are examples of these products.
Companies in the market are also focusing on new product development and strategic partnerships with several other vendors in order to expand their portfolios and meet the demands of a growing customer base. In this landscape, the development of new products and business alliances are critical.
Recent developments related to key players providing the wiring devices market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
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Attribute |
Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2018-2022 |
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Market Analysis |
US$ Mn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
By Product:
By Application:
By Region:
In 2022, demand for the wiring devices market amounted to US$ 53,231.6 Mn.
The global wiring devices market is estimated to grow at a CAGR of 6.1% over the forecast period.
The market for wiring devices market is forecasted to have a market value of US$ 100,877.0 Mn by 2033.
Demand for the wiring devices market in India is projected to rise at 7.2% CAGR over the forecast period.
In 2022, North America wiring devices market held a dominant market share of 23.8%.
