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Electric Plugs and Sockets Market: Important factor that fuels the demand across various developing nations

02-18-2019 03:47 PM CET | Energy & Environment

Press release from: Allied Market Research

Electric Plugs and Sockets Market: Important factor that fuels

Electric plugs and sockets is a vital part of electrical infrastructure that allows user to connect devices with power supply. Rise in industrialization across the globe drives the growth of the electric plugs and sockets market.

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.In 2017, the three-pin segment dominated the market, in terms of revenue, due to the usage of more and more number of electrical and electronic appliances across residential and commercial sectors.

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Asia-Pacific was the highest revenue contributor to the global electric plugs and sockets market in 2017, accounting for around 37.62% share, due to the rapid technological advancements and greater dependency on electrical and electronics equipment.

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.

Key Benefits:
•This report provides an extensive analysis of the current and emerging market trends and dynamics in the electric plugs and sockets market.
•In-depth analysis is conducted by constructing market estimations for the key market segments between 2017 and 2024.
•Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
•Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the global electric plugs and sockets market.

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The report features a competitive scenario of the global electric plugs and sockets market and provides a comprehensive analysis of the key growth strategies adopted by major players. The key players profiled in the report 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.

About Allied Market Research
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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