Electric Plug and Socket Trends and Forecast
The future of the global electric plug and socket market looks promising with opportunities in the residential, commercial, and industrial markets. The global electric plug and socket market is expected to reach an estimated $17.0 billion by 2030 with a CAGR of 5.7% from 2024 to 2030. The major drivers for this market are increase in the number of building and development projects, rapid increase in the installation of plugs and sockets in homes, as well as, rise in the market for splash- and dust-proof plugs and sockets.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Electric Plug and Socket by Segment
The study includes a forecast for the global electric plug and socket by type, power rate, end use, and region.
Electric Plug and Socket Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Two-Pin
• Three-Pin
• Four-Pin
• Five-Pin
Electric Plug and Socket Market by Power Rate [Shipment Analysis by Value from 2018 to 2030]:
• High Power
• Medium Power
• Low Power
Electric Plug and Socket Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Residential
• Commercial
• Industrial
Electric Plug and Socket Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Electric Plug and Socket Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies electric plug and socket companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric plug and socket companies profiled in this report include-
• Legrand
• Philips
• Schneider Electric
• ABB
• Emerson Electric
• Wenzhou Chmag Electrical
• Mennekes Elecktrotechnik
Electric Plug and Socket Market Insights
Lucintel forecasts that three-pin is expected to witness the highest growth over the forecast period due to rising awareness about safety measures while using electrical appliances.
Within this market, industrial is expected to witness the highest growth.
APAC is expected to witness highest growth over the forecast period due to rising awareness about electric plugs and sockets across various countries.
Features of the Global Electric Plug and Socket Market
Market Size Estimates: Electric plug and socket market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Electric plug and socket market size by type, power rate, end use, and region in terms of value ($B).
Regional Analysis: Electric plug and socket market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, power rate, end use, and regions for the electric plug and socket market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the electric plug and socket market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the electric plug and socket market size?
Answer: The global electric plug and socket market is expected to reach an estimated $17.0 billion by 2030.
Q2. What is the growth forecast for electric plug and socket market?
Answer: The global electric plug and socket market is expected to grow with a CAGR of 5.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the electric plug and socket market?
Answer: The major drivers for this market are increase in the number of building and development projects, rapid increase in the installation of plugs and sockets in homes, as well as, rise in the market for splash- and dust-proof plugs and sockets.
Q4. What are the major segments for electric plug and socket market?
Answer: The future of the global electric plug and socket market looks promising with opportunities in the residential, commercial, and industrial markets.
Q5. Who are the key electric plug and socket market companies?
Answer: Some of the key electric plug and socket companies are as follows:
• Legrand
• Philips
• Schneider Electric
• ABB
• Emerson Electric
• Wenzhou Chmag Electrical
• Mennekes Elecktrotechnik
Q6. Which electric plug and socket market segment will be the largest in future?
Answer: Lucintel forecasts that three-pin is expected to witness the highest growth over the forecast period due to rising awareness about safety measures while using electrical appliances.
Q7. In electric plug and socket market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to rising awareness about electric plugs and sockets across various countries.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the electric plug and socket market by type (two-pin, three-pin, four-pin, and five-pin), power rate (high power, medium power, and low power), end use (residential, commercial, and industrial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Electric Plug and Socket Market, Electric Plug and Socket Market Size, Electric Plug and Socket Market Growth, Electric Plug and Socket Market Analysis, Electric Plug and Socket Market Report, Electric Plug and Socket Market Share, Electric Plug and Socket Market Trends, Electric Plug and Socket Market Forecast, Electric Plug and Socket Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.