Press release
Socket Converter Market to grow at a CAGR of 6.50% during the period 2017-2021
socket converter market analysis, socket converter market basket, socket converter market crash, socket converter market cap, sock
Socket converter is an electrical accessory, which is classified as a subsegment 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, the 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.
Analysts forecast the global socket converter market to grow at a CAGR of 6.50% during the period 2017-2021.
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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.
The market is divided into the following segments based on geography:
⢠Americas
⢠APAC
⢠EMEA
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
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
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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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