Industrial Plugs & Sockets Market to Rear Excessive Growth till 2025
The global industrial plugs and socket market will witness an upward growth in the period from 2017 to 2025 on account of the growing construction and infrastructure development activities across the globe, especially in Asia. The manufacturing sector in Asian countries is growing and the sector is witnessing a revival in North America. This is having a positive impact on the global industrial plugs and sockets market.
Among the various end use industries, it is the heavy industry segment which is anticipated to fuel the demand for industrial plugs and socket. The growth in the food processing, textile, and automobile industries is behind the burgeoning growth of the heavy industry segment during the forecast period from 2017 to 2025.
Players in the market are constantly vying for product innovation. Competing on the basis of price and product quality, manufacturers across the industrial plugs and socket market are expected to witness stiff completion from one another. A growing trend in the global industrial plugs and socket market is the demand for dustproof plugs and sockets. Splash-proof sockets and plugs for industrial use have also become popular and gaining traction. While initially water proof industrial plugs and sockets were in high demand, the focus has shifted to splash proof and dust proof variants of industrial plugs and sockets, as these have wider industrial applications.
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Global Industrial Plugs & Sockets Market: Overview
Industrial plugs and sockets are mainly used for making secure electric connection for equipment working under different voltages and frequencies. These appliances have wide applications in industries such as power generation and oil and gas, since they are splash proof, impact resistant, dust proof, and heat resistant. The industrial plugs and sockets have multifunctional applications in farming and commerce and may also include screw-less connection techniques for wires and cables.
The report on the global industrial plugs and sockets provides a comprehensive insight into key market dynamics, strategies of major manufacturers and suppliers, current and emerging trends, and the competitive landscape. The research analysis highlights the relevant national and international standards for the technical specifications and evaluates the impact of recent technological advancements on the competitive dynamics. The study provides an elaborate analysis of the raw materials sourcing strategies of prominent manufacturers and product enhancements unveiled by them to diversify their product offerings in major regions. Prepared after thorough primary and secondary research, the report offers pertinent data on the market revenue and size of key segments. It primarily aims to help the market players in effective strategy formulation with all the relevant information.
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Global Industrial Plugs & Sockets Market: Drivers, Trends, and Opportunities
The rising construction and development activities in Asia Pacific, a rapidly growing manufacturing sector in South East Asia, and considerable investments in oil and gas industry in the Middle East are the primary factors fuelling the growth of the industrial plugs and sockets market. Combined with this, the low cost of the raw materials and the use of advanced production technologies are expected to propel the demand for industrial plugs and sockets across the globe.
The lack of awareness about the advantages of industrial plugs and sockets along with the high cost involved in transportation of the products are likely to impede the growth of the market to an extent. Furthermore, slowing down of the industrial sector in China may also hinder the market growth in the region. However, rising industrial investment in various ASEAN countries and the growth of the construction sector and mining sector in Africa will unlock exciting growth opportunities for the market players.
Global Industrial Plugs & Sockets Market: Regional Outlook
The Asia Pacific region is expected to witness significant demand for industrial plugs and sockets. The growth of the regional market will be driven by the advancement in production technologies and the increased demand for plugs and sockets in emerging nations of Asia Pacific. Increased demand for premium products that conform to international testing certifications in the U.S. and Canada has boosted the industrial plugs and sockets market. Owing to the low cost of the raw materials, the market is expected to witness impressive growth in Europe and other regions as well.
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Global Industrial Plugs & Sockets Market: Competitive Outlook
Leading manufacturers are continuously employing state-of-the-art production technologies and launching high-end products to gain a stronghold in the global market for industrial plugs and sockets. Some such prominent players vying for a significant share in the market are Scame Group, Legrand SA, Palazzoli Group, Amphenol Corporation, Mennekes, Marechal Electric Company, Schneider Electric, and Marechal Electric Group.
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