The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
“The industrial plugs & sockets market is projected to grow at a CAGR of 4.82% from 2016 to 2021”
The industrial plugs & sockets market is projected to reach USD 3.60 billion by 2021, growing at a CAGR of 4.82% from 2016 to 2021. Industrial plugs & sockets are used in the oil & gas, power generation, chemical & pharmaceutical, and heavy industries. Investments in sectors other than oil & gas in the Middle East and North Africa (MENA), and the growth of the manufacturing sector in South Asian countries, coupled with the revival of the manufacturing industry in North America, are expected to drive the industrial plugs & sockets market. The slowdown in mining activities will likely hinder market growth, as the mining industry is a potential end-user market for industrial plugs & sockets.
“The dustproof & splash-proof segment is expected to grow at the highest CAGR from 2016 to 2021”
With regard to the protection segment, dustproof & splash-proof industrial plugs & sockets are expected to constitute the largest as well as the fastest growing market from 2016 to 2021. These have wide industrial application unlike water-proof industrial plugs & sockets, which have a limited set of industrial applications. Dustproof & splash-proof industrial plugs & sockets find application in the textile, food processing, and metals & mining sectors.
“Asia-Pacific: The largest market for industrial plugs & sockets”
Asia-Pacific is currently the largest market for industrial plugs & sockets, closely followed by North America. The Asian market is primarily driven by countries such as China, India, and Japan, where there is a high demand for industrial plugs & sockets. The market in this region is projected to grow at a high rate, with China expected to dominate the market. Despite the headwinds in the Chinese economy, the increasing domestic demand for various infrastructural facilities is expected to raise the growth rates slightly in 2017; this will likely boost the demand for industrial plugs & sockets.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 56%, Tier 2- 24%, Tier 3- 20%
- By Designation: C-Level- 50%, D-Level- 31%, Others- 19%
- By Region: North America- 45%, Asia-Pacific- 30%, Europe- 20%, Rest of the World- 5%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2015: Tier 1 = >USD 20 billion, Tier 2 = USD 10 billion to USD 20 billion, and Tier 3 = The leading players in the industrial plugs & sockets market include Legrand SA (France), Amphenol Corporation (U.S.), Mennekes (Germany), and Marechal Electric Company (France).
Why buy this report?
1. The report identifies and addresses key markets for industrial plugs & sockets, which would help suppliers review the growth in the demand for the product.
2. The report helps solution providers understand the pulse of the market, and provides insights into drivers, restraints, and challenges.
3. The report will help key players understand the strategies of their competitors better, and will help in making strategic decisions.