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Electric Plugs and Sockets Market Expected to Hit $15,530.20 Million by 2024, at 6.7% CAGR | The key players profiled in the report are Legrand SA, Philips, Schneider Electric SE, ABB Ltd., Emerson Electric Co., Wenzhou Chmag Electrical Co Ltd.

04-10-2019 04:47 PM CET | Energy & Environment

Press release from: Allied Market Research

Electric Plugs and Sockets Market Expected to Hit $15,530.20

According to a new report by Allied Market Research, titled, "Global Electric Plugs and Sockets Market by Type, Power rate, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2024", 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.

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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.

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.

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.

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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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