Electric Plugs and Sockets Market Expected to Reach $15,530.20 Million,Globally by 2024 By Top Leading Companies Legrand SA, Philips, Schneider Electric SE, ABB Ltd., Emerson Electric Co., Wenzhou Chmag Electrical Co Ltd., Mennekes Elecktrotechnik Gmbh, S

The features of electric plugs and switches such as secure, safe, dust-proof, and greater reliability drive its requirement in the global market. The rapid industrialization is also an important factor that fuels the demand across various developing nations.

Global Electric Plugs and Sockets Market by Type, Power rate, and End User: Global Opportunity Analysis and Industry Forecast, 20172024, the global electric plugs and sockets market was valued at $9,971.60 million in 2017, and is projected to reach at $15,530.20 million by 2024, growing at a CAGR of 6.7% from 2018 to 2024.

Download PDF Report Sample @ https://www.alliedmarketresearch.com/request-sample/1786?utm_source=OPR

Electric plugs and sockets Market are power devices, which allow the electric equipment to be connected to the alternating current (AC) power source. These plugs and sockets are utilized for establishing secure electric connections in machines and equipment, which work on different frequencies and voltages. They have high impact strength and offer superior resistance to the flow of electric current. They differ in voltage & current rating, shape, size, and type of connectors.

Rise in construction and development activities fuel the demand for electric plugs and sockets. In addition, swift growth in residential plug & socket installation and increase in demand for dust-proof & splash-proof plugs & sockets are expected to boost the growth of the electric plugs and socket market in the coming years. Moreover, the safety features incorporated into these plugs and sockets such as dust proof, water proof, and fire proof act as the key drivers of the market. However, decrease in growth rate in mining industry hampers the market. On the contrary, rise in government spending is expected to offer potential opportunities for the marker expansion

The key players operating in the global electric plugs and sockets market are Legrand SA, Philips, Schneider Electric SE, ABB Ltd., Emerson Electric Co., Wenzhou Chmag Electrical Co Ltd., Mennekes Elecktrotechnik Gmbh, Scame Group, Amphenol Corporation, and Eaton Corp.

Make a Purchase Enquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/1786?utm_source=OPR

The global electric plugs and socket market is segmented based on type, power rate, end user, and region. Depending on type, the market is segmented as two-pin, three-pin, four-pin, and five-pin. Based on power rate, it is categorized into high power, medium power, and low power. By end user, it is classified into residential, commercial, and industrial. By geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Analyst Review:

Electric plugs and sockets are electrical devices, which provide a mode for power supply. The global electric plugs and sockets market is expected to reach $15,530.20 million by 2024, owing to rise in demand for safe and reliable electrical infrastructure across the globe.

Rise in construction and development of urbanization across the globe, increase in demand for safe electrical operations, and rise in demand for dust proof & splash proof plugs & sockets, drive the growth of the market.

In 2017, Asia-Pacific was the highest contributor, in terms of revenue, in the global electric plugs and sockets market with 37.62% of share. In addition, the three-pin segment contributed significant revenue to the market, majorly in the U.S. Furthermore, the industrial segment across end user in electric plugs and sockets segments are anticipated to witness the highest growth rate during the forecast period.

Key market players have adopted various strategies, such as new product launch, business expansion, and strategic alliances to increase awareness about electric plugs and sockets across various countries.

Access Full Summery @ https://www.alliedmarketresearch.com/electric-plugs-sockets-market?utm_source=OPR

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1?855?550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.