Global Electric Plugs and Sockets Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz delivers in-depth insights on the global electric plugs and sockets market in its upcoming report titled, “Global Electric Plugs and Sockets Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global electric plugs and sockets market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global electric plugs and sockets market report has been segmented on the basis of type, power, end user, and region

Power plugs and sockets are devices that allow electrically operated equipment to be connected to primary alternating current (AC) power supply in a homes, building, factory, etc. Electrical plugs and sockets differ in voltage and current rating, shape, size and type of connectors. Plugs and socket-outlets are designed as a system to meet standards for safety and reliability.

Rapid urbanization and increasing construction and reconstruction activities in commercial and residential sector in developed and developing countries are major factor driving growth of the global electric plugs and sockets market. In addition, increasing government initiatives in developing countries towards smart cities and affordable homes projects and demand for electric plugs and socket that are durable, dust-proof and splash-proof plugs form residential sector are another factors expected to boost growth of the global electric plugs and sockets market. Moreover, rising demand from industrial sector for electric plugs and sockets that are resistant to fire and water is expected to support growth of the global electric plugs and sockets market.

However, fluctuating price of raw material is major factor restraining growth of the global electric plugs and sockets market over the next few years.

Development of advanced products and increasing R&D activities by manufacturers is expected to create new opportunities in terms of revenue to players operating in the global electric plugs and sockets market over the forecast period.

North America market is expected to dominate in the global electric plugs and sockets market with higher revenue share as compared to that of the other regional markets, and is expected to continue its dominance during the forecast period. This can be attributed to increasing construction and reconstruction activities and presence of prominent players operating in countries in this region. Europe market accounts for second-largest revenue share in the global electric plugs and sockets market followed by markets in Asia Pacific, Latin America and Middle East & Africa respectively. The market in Asia Pacific is projected to register fastest growth in terms of revenue, owing to increasing government initiatives towards smart cities and affordable homes projects in emerging economies in this region.

Global Electric Plugs and Sockets Market Segmentation:

By Type:

• Two-Pin
• Three-Pin
• Four-Pin
• Five-pin

By Power:

• High Power
• Medium Power
• Low Power

By End User:

• Residential
• Commercial
• Industrial

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa