Press release
Industrial Plugs And Sockets Market Report 2023: Trends, Share, Market Size And Supplier Analysis 2032 | ABB Ltd., Amphenol Corporation, Legrand SA, Marechal Electric Group, Mennekes
Industrial Plugs And Sockets Market
The Business Research Company's Industrial Plugs And Sockets Global Market Report 2023 identifies increasing demand as the major driver for the Industrial Plugs And Sockets market's growth in the forecast period. The smart grid is new electricity production, distribution and transmission infrastructure capable of automating and handling the rising complexity and demands of electricity in the 21st century.
The global industrial plugs and sockets market size grew from $2.8 billion in 2022 to $2.98 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The industrial plugs and sockets market size is expected to grow to $3.85 billion in 2027 at a CAGR of 6.6%.
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Major competitors in the Industrial Plugs And Sockets market are ABB Ltd., Amphenol Corporation, Legrand SA, Marechal Electric Group, Mennekes.
A key trend in the Industrial Plugs And Sockets market includes technological advancement. Major companies operating in the industrial plugs and sockets sector are focusing on developing technologically advanced solutions for industrial plugs and sockets. For instance, in August 2022, Tenneco Inc., a US-based automotive components equipment manufacturer and an aftermarket introduced an M14 range with HEX16mm and C-4001, a range of new Champion® industrial spark plugs. This double Iridium M14 industrial plug range is a high-performance spark plug, which offers electrical and mechanical strength and enables greater resistance against high-voltage failures due to its new ceramic formula and offered nominal electrode gaps of 0.25mm for stationary usage and 0.40mm for on- and off-road applications.
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The Industrial Plugs And Sockets market is segmented -
1. By Type: Plug, Socket
2. By Protection: Waterproof, Dustproof and Splash-Proof, Explosion-Proof, Other Protections
3. By End User: Power Generation, Oil And Gas, Heavy Industry, Chemical And Pharmaceutical, Other End-Users
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Industrial Plugs And Sockets market.
The Business Research Company's "Global Industrial Plugs And Sockets Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Industrial Plugs And Sockets Market Include:
1. Executive Summary
2. Industrial Plugs and Sockets Market Characteristics
3. Industrial Plugs and Sockets Market Trends And Strategies
4. Industrial Plugs and Sockets Market - Macro Economic Scenario
5. Industrial Plugs and Sockets Market Size And Growth
……
26. Africa Industrial Plugs and Sockets Market
27. Industrial Plugs and Sockets Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Industrial Plugs and Sockets Market
29. Industrial Plugs and Sockets Market Future Outlook and Potential Analysis
30. Appendix
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