Persistence Market Research
Consolidations in electrical equipment manufacturing are expected to lead the industrial plugs and sockets market to a growing phase. Industrial plugs and sockets are used for secure electric connections in machines and equipment and works on different frequencies. They find multifunctional applications in commerce & farming and provide safety for appliances to which they are connected. Plugs and sockets are usually used in the automotive sector and this is the prime factor that paves way for market growth since the automotive industry is witnessing significant growth.
Industrial Plugs and Sockets Market: Drivers and Challenges
Continuous investments and increasing industrial scope in developing regions with major focus on the construction sector are the major factors expected to drive the growth of the industrial plugs and sockets market. In recent time, slight growth of the manufacturing sector in developed regions such as North America has translated to the growth of the industrial plugs and sockets market.
One of the restraints for the industrial plugs and sockets market is the declining growth rate for some verticals such as mining and education, which indirectly lead to a decline in revenue generation for this market.
Industrial Plugs and Sockets Market: Segmentation
The industrial plugs and sockets market can be segmented on the basis of type, protection, end user, and region.
On the basis of type, the industrial plugs and sockets market can be segmented as:
On the basis of protection, the industrial plugs and sockets market can be segmented as:
On the basis of end user, the industrial plugs and sockets market can be segmented as:
Industrial Plugs and Sockets Market: Key Players
Some of the key players in the industrial plugs and sockets market are TE Connectivity, Mennekes, Legrand, Amphenol, ABB, ENNEKES, Hubbell, Marechal Group, Molex, Gewiss, Emerson Electric, Eaton, Schneider Electric and others
Industrial Plugs and Sockets Market: Regional Overview
On the basis of geography, the industrial plugs and sockets market can be segmented into North America, Latin America, Western Europe, Eastern Europe, China, SEA and other APAC, Japan, and Middle East & Africa. Among various regions, the industrial plugs and sockets market in the SEA and other APAC region is expected to grow at a high rate and is expected to dominate the market in terms of value during the forecast period. The SEA and other APAC region is expected to be followed by China and Western Europe.
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