Wiring Devices Market Size Projected to Rise Lucratively during 2021
Wiring devices market can be segmented on the basis of products and geography. Based on the products the wiring devices market can be categorized into receptacles, light dimmer, lamp holders, metal contacts, electric switches, wire connectors and other current carrying devices. Switches are used for controlling inductive and resistive loads mostly in the electric discharge lamps. Increasing use of electronic switches in construction and residential industry is one of the factors which is driving the growth of wiring devices market across the globe. The automated electronic switch owing to a number of features are widely being used in residential, construction and institutional occupancies. For instance, the fully automated lighting control system allows outdoor or indoor light to be operated remotely from any point within the system containing receiver and controller. The technological displacement in the field of wiring devices is expected to fuel the market growth. The company such as Schneider-electric is offering self-powered and wireless switches which allow instant installation and location flexibility. These switches are deprived of batteries which result in low maintenance and low running cost. These switches are self-powered and scavenging ambient energy powers the switches.
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Construction activity, consumer spending and private spending are expected to increase over the forecast period owing to the rising number of households which in turn is expected to stimulate the market growth. The boost in industries such as tourism, hotel and real estate will furthermore trigger the demand of wiring devices market owing to the huge investment in current carrying wiring devices. Moreover, the increasing use of light dimmers are expected to fuel the market growth due to the energy efficient nature of the light dimmer. The light dimmer is increasingly used for limiting the brightness of the light. The dimmer light switch can be controlled with the help of knob which ultimately results in energy efficiency. Increasing regulations for use of tamper resistant receptacles in the developed economies are expected to fuel the market revenue. National Electrical Manufacturers Associations (NEMA) and U.S. General Service Administration (GSA) are focusing on the extensive use of straight-blade and locking-type receptacle and plug caps and temper-less receptacles for safe usage of wiring devices.
Some of the key players in this marketplace include ABB Incorporated, Cooper Industries plc, Eaton Corporation, Hewlett-Packard (HP) Development Company L.P., Hubbell Inc., Legrand Group, Leviton Manufacturing Co Inc., OREL Mfg. (Pvt.) Ltd., Schneider Electric SA, and SMK Corporation, among others.
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