Press release
Global Socket Converter Market: Industry Size, Share, Growth, Forecasts
Socket converter is an electrical accessory, which is classified as a sub-segment of the electrical equipment industry. Socket converters are generally used when any power adapter of any electrical appliance is not fitting in a given wall socket or an extension cord. These power adapters usually do not fit due to discrepancies in sockets and plug designs across all regions. As a result, these socket converters are used to accommodate such electrical appliances. The demand for socket converters is influenced by factors such as increasing electronic devices in a household, rise in construction spending, and increasing disposable income of consumers. House prices witnessed rapid growth in many countries across the globe despite the fragile global economic situation.
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Technavios analysts forecast the global socket converter market to grow at a CAGR of 6.50% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global socket converter market for 2017-2021. To calculate the market size, the report considers the sales of socket converters worldwide and excludes the sale of components involved and the service of socket converters.
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The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Socket Converter Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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Key vendors
BULL
Koninklijke Philips
Schneider Electric
Other prominent vendors
Hangzhou Honyar Electrical
Huntkey Enterprise Group
Xiaomi
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Market driver
Increasing electronic devices per household
For a full, detailed list, view our report
Market challenge
Growing traction of wireless charging
For a full, detailed list, view our report
Market trend
Increasing electrification through hybrid decentralized power systems
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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