Industrial Plugs & Sockets Market worth 3.60 Bn USD by 2021

Thursday 13 October 2016, Amsterdam

The report, now available on ASDReports, "Industrial Plugs & Sockets Market by Protection (Dustproof & Splash-Proof, Water-Proof, and Explosion-Proof), Type (Plugs and Sockets), End-User (Oil & Gas, Power Generation, Chemical & Pharmaceutical, and Heavy Industry) - Global Forecast to 2021", The industrial plugs & sockets market is expected to grow from an estimated USD 2.84 Billion in 2016 to USD 3.60 Billion by 2021, registering a CAGR of 4.82% from 2016 to 2021. The global market is set to witness significant growth, due to the increasing construction and development activities in Asia, the growth of the manufacturing sector in South Asian countries, and the revival of the manufacturing sector in North America.

The heavy industry segment is expected to hold the largest share of the industrial plugs & sockets market, by end-user, during the forecast period
The heavy industry segment led the industrial plugs & sockets market in 2015, and is projected to dominate the market during the forecast period. . The heavy industry segment is expected to grow at the fastest rate during the forecast period. This segment is primarily driven by the growth of the automobile, food processing, and textile industries, and is expected to create new revenue pockets for the industrial plugs & sockets market during the forecast period.

Dustproof & splash-proof to be the fastest growing segment in the industrial plugs & sockets market
With regard to the protection segment, dustproof & splash-proof industrial plugs & sockets are expected to constitute 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.

Asia-Pacific: The leading market for industrial plugs & sockets
In this report, the industrial plugs & sockets market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. Asia-Pacific is expected to dominate the global industrial plugs & sockets market, given the increasing construction and development activities in countries such as India and China.

To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the industrial plugs & sockets market. These players include Legrand SA (France), Amphenol Corporation (U.S.), Mennekes (Germany), and Marechal Electric Company (France). Leading players are trying to penetrate the markets in developing economies, and are adopting various strategies to increase their market share.