Industrial Plugs and Sockets Market Size, Trends & Analysis - Forecasts to 2026 By Type (Industrial Plugs and Industrial Sockets), By Type of End-User (Heavy Industries, Oil & Gas, Chemicals & Pharmaceuticals, Power Generation, and Others [Agriculture, Military, Sports & Entertainment]), By Type of Protection (Dustproof & Splash Proof, Waterproof, and Explosion Proof), By Type of Current (Up to 32 A, 32 to 125 A, and Above 125 A), By Type of Region (NA [North America], Europe, APAC [Asia Pacific], MEA [the Middle East & Africa], and CSA [Central & South America]), End-User Landscape, Vendor Landscape, Company Market Share Analysis & Competitor Analysis
Industrial plugs and sockets are utilized to provide a connection to mains that have high output parameters such as voltages and currents. These plugs and sockets are extensively being found in commercial industries and enterprises. The industrial plugs and sockets have polyphase systems to shield from any unfortunate mishaps. COVID19 pandemic has affected the manufacturing and production of hardware components which has led to the depletion of supplying and distributing materials leading to earnings slowdown resulting in unemployment, yet increasing deployment of heating, ventilation, and air conditioning solutions and services will lead to making an exemplary extension of the market in the forecast period.
According to the analysis done by GME, the Industrial Plugs and Sockets market is predicted to register a significant growth of 4.9% between the period (2020-2026).
The restraints of the market are the economic slowdown in APAC countries that may affect the constant impulse of the market yet, rapid electrification, increasing capital investments towards infrastructure developments, and usage of modern technologies to improve user experience are some of the factors augmenting the drive of the global industrial plugs and sockets market.
Industrial sockets and plugs are the types in the global market. The segment that is observed to account for the largest market size is the industrial sockets. Rapid investments in the infrastructure industry, rising concerns towards climate change, and awareness of carbon emissions are some of the prominent factors leading to the endowment of the global industrial plugs and sockets market.
Based on the end-user segment, the market bifurcation can be seen as heavy industries, oil & gas, chemicals & pharmaceuticals, power generation, and others (agriculture, military, sports, and entertainment). Heavy industries are seen to trend upwards in the forecast period. Industrial sockets and plugs are deployed in heavy industries for the reliable and safe functioning of equipment around distinctive atmospheric conditions. The introduction of automation in the energy and power industry is one of the fundamental drivers of the global market.
Waterproof, and dust & splash-proof, explosion-proof are the distinct types of protections seen in the industrial plugs and sockets industry. Waterproof industrial plugs and sockets are set to lead the global market between 2020-2026. Increased usage of sockets and plugs in construction, maritime, food & beverages, chemicals, and various end-user industries is expected to drive the segment demand in the market.
The types of current seen in industrial socked and plugs are up to 32 A, 32 to 125 A, and above 125 A. The 32-125 A is a widely utilized current parameter for this market. This particular specification in industrial sockets and plugs will ensure an uninterrupted power supply efficiently. Accelerated expansion of industries across the globe professes as a factor assisting the acceleration of the market.
Based on regional analysis, the Asia Pacific is regarded to promote high market growth in the given period. Low cost of raw materials, an increase in small and medium-sized industries, and progress in manufacturing activities are some of the major drivers inducing the increment of the global market.
Emerson Electric, Mennekes, Legrand, Eaton, Marechal Electric Group, SCAME Group, Amphenol Corporation, ABB, Schneider Electric, Palazolli Group, and other industries are the dominant players in this market.
Please note: This is not an exhaustive list of companies profiled in the report.
In July 2018, ABB completely took over GE industrial solutions. This development will enhance the electrification market revenue for the company.
In July 2018, Eaton acquired Innovative Switchgear Solutions Inc. (ISG) who is the specialty manufacturer for medium voltage electrical devices in North America.
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The Global Industrial Plugs and Sockets Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Industrial Plugs and Sockets Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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