Press release
Industrial Plugs and Sockets Market Size to Reach $3.2 billion by 2025 | Amphenol Corporation, ABB, Emerson Electric, Schneider Electric, Legrand SA
According to the new market research "Industrial Plugs and Sockets Market by Type, End User (Heavy Industries, Oil & Gas, Chemicals & Pharmaceuticals, Power Generation), Current (up to 32 A, 32 to 125 A, Above 125 A), Protection (Dustproof & Splash Proof, Waterproof, Explosion Proof), and Region - Global Forecast to 2025", size is projected to grow from USD 2.5 billion in 2020 to USD 3.2 billion by 2025; it is expected to grow at a CAGR of 4.9% from 2020 to 2025.View full report summary @ https://www.marketsandmarkets.com/Market-Reports/industrial-plug-socket-market-7162677.html
The key factors driving the growth of the industrial plugs and sockets industry include rapid industrialization in Asia Pacific and increased investments in infrastructure development projects to contribute to the global economy post-COVID-19.
The up to 32 A segment is expected to dominate the industrial plugs and sockets market, by current, during the forecast period.
The up to 32 A segment is expected to lead the industrial plugs and sockets market from 2020 to 2025. Industrial plugs and sockets of rating up to 32 A are commonly used across all industries for many applications. Industrial plugs and sockets in this range are more commonly used than high-current industrial plugs and sockets. The prevalent use of industrial plugs and sockets of current rating up to 32 A across industries is a key driver for the growth of up to 32 A segment of the market.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=7162677
The industrial plugs segment is expected to be the fastest-growing industrial plugs and sockets market, by type, during the forecast period.
The industrial plugs segment, by type, industrial plugs and sockets market is estimated to grow at the fastest rate during the forecast period. Industrial plugs allow easy connection and disconnection of electrical equipment in industrial settings. The use of industrial plugs also improves safety and reduces the risk of electrical hazards considerably. These factors are expected to drive the demand for industrial plugs during the forecast period.
Asia Pacific likely to emerge as the largest industrial plugs and sockets market
In this report, the industrial plugs and sockets market has been analyzed for six regions, namely, Asia Pacific, North America, Europe, Middle East, South America, and Africa. Asia Pacific is estimated to be the largest market for industrial plugs and sockets during the forecast period. The growth of the market in this region is mainly driven by the increasing industrial and large-scale infrastructure investments during the forecast period. Risen demand for safe, secure, and reliable connected and disconnected equipment for use in a diverse range of environments, increased investments in the construction sector, and sustained industrial investments in the key markets offer high-growth opportunities for the industrial plugs and sockets market in Asia Pacific.
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To enable an in-depth understanding of the competitive landscape, the report includes some of the top players in the industrial plugs and sockets market.
Some of the key players are Amphenol Corporation (US), ABB (Switzerland), Emerson Electric (US), Schneider Electric (France), and Legrand SA (France). The leading players are adopting various strategies to increase their share in the industrial plugs and sockets market.
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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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