Pin and Sleeve Device Market Size to Fly High as Demand Continues to Increase | Eaton Corporation, Emerson Electric, Meltric Corporation

The global pin and sleeve devices market size was valued at $68.1 billion in 2018, and is projected to reach $160.11 billion by 2026, registering a CAGR of 11.1% from 2019 to 2026. Pin and sleeve devices are high-current power sources that help insulate power from chemicals, dirt, moisture, and grime. These devices are made up of high-quality components such as RFI filters, battery holders, LED lighting connectors, solid brass, and pins. These highly secured devices protect electrical connections in abusive environments.

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The research also provides a market analysis using various analytical techniques, including Porter's Five Forces Analysis and PESTEL Analysis. These tools provide an in-depth analysis of the micro- and macro-environmental elements that influence the market's expansion during the forecast period.

There is an increase in the demand for pin and sleeve devices, owing to growth in applications of connectors, sockets, plugs devices in residential, commercial, and industrial sector. Moreover, ease of installation, high durability, and safety measures according to the convenience of electrical connection also contribute toward the growth of the global pin and sleeve device market. There is an increase in the installation of plugs and sockets in the residential sector as the growth in construction activities across the globe is generating need for power-efficient connections to make home appliances work. In addition, advancements in construction methods of semiconductor wafers such as prefabricated homes with pre-installed sockets for use in electronics drives the market growth to a certain extent is expected to boost the demand for pin and sleeve devices. Furthermore, increase in demand for dust proof and splash proof plugs & sockets also contribute to the market growth, owing to shift in consumer preference toward adoption of highly durable and water-resistant devices.

Moreover, secure plugs & sockets help monitor and control the flow of electricity, which can otherwise be harmful for workers. Rise in R&D activities in the military & defense sector has a huge impact on the market growth, due to surge in consumption of advanced electronic appliances such as large batteries and power sources that require power connection. Thus, governments of developing ad developed nations are investing in wiring devices for better connectivity, which, in turn, fuels the growth of the global pin and sleeve devices market. However, complex fault detection, troubleshooting process, and increase in investments in wireless connectivity to the appliances such as wireless chargers and others is expected to limit the growth of the pin and sleeve devices market.

The global pin and sleeve devices market is analyzed by product type, end user, and region. By type, the market is fragmented into plug, connector, receptacle, and inlet. The connectors segment dominated the global pin and sleeve devices market, in terms of revenue, in 2018, and is expected to follow the same trend during the forecast period, owing to rise in development of computing technologies, consumer electronics, and communication (3C). By end user, it is segmented into residential, commercial, and industrial sectors, wherein the industrial sector is further divided into automotive, manufacturing, oil & gas, energy & power, and others. Region-wise the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.

Key Market Players
- ABB Ltd.
- Eaton Corporation
- Emerson Electric
- Meltric Corporation
- Schneider Electric
- Walther Electric, Inc.
- Amphenol Corporation
- Mennekes Electrotecnik GmbH & Co. KG
- Hubbell Corporation
- Legrand SA

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KEY MARKET SEGMENTS
By Product Type
? Plug
? Connector
? Receptacle
? Inlet

By End User
? Residential
? Commercial
? Industrial

By Region
- North America
o U.S.
o Mexico
o Canada
- Europe
o UK
o Germany
o Italy
o France
o Rest of Europe
- Asia-Pacific
o China
o Japan
o Australia
o India
o Rest of Asia-Pacific
- LAMEA
o Latin America
o Middle East
o Africa

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This release was published on openPR.