Electric Plugs and Sockets Market 2021 Size, Growth, Share, Trends, Key Players Industry Segments and Opportunity Assessment by 2024

Allied Market Research, the global electric plugs and sockets market was pegged at $10.54 billion in 2018 and is expected to reach $15.53 billion by 2024, registering a CAGR of 6.7% from 2018 to 2024.

Rising construction and development activities, increasing demand for dustproof & splash-proof plugs & sockets, and swift growth in residential plugs & socket installations have boosted the market growth. However, the slowdown in the mining industry hampers the growth of the global electric plugs and sockets market. On the contrary, rising government spending is expected to create lucrative opportunities in the near future.

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Allied Market Research recently published a report titled, “Electric Plugs and Sockets Market: Global Opportunity Analysis and Industry Forecast 2020-2027’’.The market report presents the top factors and market trends that are real behind the growth of the market. It also offers an extensive study of evolving market dynamics, top investment pockets, key sections, competitive scenarios, value chain, and major investment prospects. These figures and data are helpful for startups, stakeholders, investors, and the key market players to obtain useful understandings and visions on the market and implement necessary strategies based on the same.

Competitive Analysis:

Leading market players profiled in the global Electric Plugs and Sockets Market report include 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.

These players have adopted several strategies including joint ventures, expansions, mergers & acquisitions, colla`borations, and new product launches to strengthen their position in the industry.

Covid-19 Impact on the Global Electric Plugs and Sockets Market:

Electric Plugs and Sockets Market Research Report offers an outline of the market based on basic parameters such as market size, sales analysis, and key drivers. The market is expected to expand on a large scale during the forecast period (2021-2024). This report includes COVID-19 impacts on the market. The unprecedented arrival of the coronavirus pandemic (COVID-19) has troubled the complete lifestyles. This in turn has affected some of the market situations along with introducing new norms. The broad view of the research report, therefore, provides the users with the total impacts of covid19 on the industry and the market players.

COVID-19 Scenario:

Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on research and development of new products.

However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of products in certain locations.

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Electric Plugs and Sockets Market Segmentation:

The global electric plugs and sockets market is segmented into type, power rate, end user, and geography. On the basis of type, the market is divided into two-pin, three-pin, four-pin, and five-pin. The three-pin segment held the largest share in 2018, accounting for more than one-third of the market. Moreover, the segment is expected to register the fastest CAGR of 7.0% during the forecast period.

Electric Plugs and Sockets Market Geographical Analysis:

The report also provides a regional analysis of the market along with the competitive setting in each region. The research report encompasses regions including North America (the United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa). These segmentations aid the market players in framing respective tactics, thus leading way to lucrative opportunities to attain their objectives.

The global electric plugs and sockets market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region held lion’s share in 2018, accounting for more than one-third of the market and is expected to continue its dominance throughout the forecast period. Furthermore, this region is projected to register the fastest CAGR of 7.7% during the forecast period.

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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.

Electric Plugs And Sockets Market Key Segments:

By Type

Two-Pin
Three-Pin
Four-Pin
Five-pin
By Power rate
High Power
Medium Power
Low Power

By End User

Residential
Commercial
Industrial

By Region

North America
U.S.
Canada
Mexico
Europe
UK
Germany
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

CHAPTER 1: INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. RESEARCH METHODOLOGY

1.3.1. Primary research
1.3.2. Secondary research

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

CHAPTER 3: MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies

3.3. PORTER’S FIVE FORCES ANALYSIS

3.3.1. Moderate-to-high bargaining power of suppliers
3.3.2. Moderate-to-high threat of new entrants
3.3.3. Moderate threat of substitutes
3.3.4. High-to-moderate intensity of rivalry
3.3.5. High-to-moderate bargaining power of buyers

3.4. MARKET SHARE ANALYSIS (2017)
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Rising construction and development activities.
3.5.1.2. Swift growth in residential plugs and socket installation.
3.5.1.3. Increasing demand for dust proof & splash proof plugs & sockets.

3.5.2. Restraint

3.5.2.1. Slowdown in mining industry.

3.5.3. Opportunities

3.5.3.1. Rising government spending.

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