Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Industrial Plugs and Sockets Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international Industrial
Plugs and Sockets Market. The research
also emphasizes on the impact of restraints, drivers, and macro indicators on
the regional and global Industrial Plugs and Sockets Market over the short as well as long period of time. A detailed
presentation of forecast, trends, and dollar values of global Industrial
Plugs and Sockets Market is offered. In
accordance with the report, the global Industrial Plugs and Sockets Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
Industrial
Plugs and sockets are set up to establish secured connections between the
source of power and other industrial machineries and equipment so as to curb
the adverse effect of volatile levels of frequencies and voltages on the
industrial apparatus. These products are generally used in automotive
industries, heavy industries, power generating industries and, in the oil, and
gas sector. The use of industrial plugs and sockets eliminates the accidental
plug mismatching and avoid connectivity not suitable in terms of use, current,
voltage, frequency and polarity.
Market Drivers
The
industrial sector is a power intensive sector that requires an ample quantity
of electricity and fuel for carrying out its operation. Traditionally,
non-electrical sources including furnaces, boilers based on fossil fuels, and
IC engines were the chief sources of power and energy for industries. But the
application of industrial plugs and sockets and electrification ensures
reduction in cost of operation and also upgradation in industrial systems.
Modernization and electrification of the industrial sector is providing the
initial impetus to the industrial plugs and sockets market.
Soaring
environmental concerns and the stringent regulations of the government to reduce
carbon footprint and global warming and adhere to environmental conservation is
fueling this market. As a result of installation of plugs and sockets in the
industrial sector, the carbon emission has reduced substantially.
The
rising population has thus led to an upsurge in construction activities and
resulted in urbanization. Rapid urbanization and industrialization at a fast
pace have propelled the use of industrial plugs and sockets and thereby its
market.
The beneficial features of industrial plugs
and sockets is driving its market. They are made out of cheaply sourced raw
materials, ease in installation and use of advanced technology. The highly
durable properties of these products make possible their utilization in
unfavorable and harsh weather conditionalities like offshore and underwater oil
and gas exploration, underground mining and many more. Its ability to resists
water, dust, temperature, pressure and chemicals is augmenting the industrial
plugs and sockets market.
Advancement
of technology and automation of industrial process is empowering the growth of
this market.
Market Restraints
The
lack of knowledge among the consumers with regard to their performance and
availability is significantly straining the growth of this market.
The
immoderate cost incurred in the shipment of industrial plugs and sockets are
hindering the growth of this market.
The
slowdown in mining operations due to adverse environmental concerns is a factor
straining this market.
The
industrial plugs and sockets have a dominant market in Asia Pacific owing the
location of two emerging economies, India and China. However, in the recent
years these regions have shown lower economic growth which is significantly
restraining the growth of this market.
The
tendency of local manufacturers to forge duplicate products is threatening the
growth of the industrial plugs and sockets market
Opportunities
The
growth in investments made in the industrial plugs and sockets market on behalf
of the companies is a lucrative opportunity for this market.
The advancement
of technology coupled with the adoption of cleaner sources of power generation
and setting up of smart grids is a great scope to kickstart this market.
The
development of automatic technology and its application in the construction and
industrial sector is a bankable opportunity for the industrial plug and sockets
market.
Trends
North
America and Europe is expected to dominate the market for industrial plugs and
sockets. Such progress can be attributed to the skyrocketing demand for
superior goods and flourishing automotive sector. The Asia Pacific region is
expected to project significant growth owing to rapid urbanization,
industrialization, booming manufacturing sector, and surging developmental and
construction activities. Middle East and Africa is estimated to showcase
positive market growth as a result of growing investment in the oil and gas
sector and rising exploration, production and construction activities. Other
regions are expected to show progress at a moderate rate.
Segment Covered:
This market
intelligence report on the global Industrial Plugs and Sockets Market encompasses market segments based on product type,
protection type, current, end user and country.
By
Product Type the global Industrial Plugs and Sockets Market has been divided
into:
q Industrial
Sockets
q Industrial
Plugs
By Protection Type the global Industrial
Plugs and Sockets Market has been divided into:
q Explosion
Proof
q Waterproof
q Splash
Proof
q Dust
Proof
By Current the
global Industrial Plugs and Sockets Market has been divided into:
q Up to 32A
q 32A – 125A
q Above 125A
By End
User the global Industrial Plugs and Sockets Market has been divided into:
q Chemicals
and Pharmaceuticals
q Heavy
Industries
q Power
Generation
q Oil and
Gas
q Others
By country/region,
the global Industrial Plugs and Sockets Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q SCAME
Group
q Emerson
Electric
q Amphenol Corporation
q Legrand
q ABB
q Marechal Electric Group
q Palazolli Group
q Eaton
q Schneider Electric
q Mennekes
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Industrial Plugs and Sockets Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis has
been used in this report to present a clear picture of the market. The study
focuses on the present market trends and provides market forecast from the year
2020-2028. Emerging trends that would shape the market demand in the years to
come have been highlighted in this report. A competitive analysis in each of
the geographical segments gives an insight into market share of the global
players.
Few Recent Developments
Eaton
In July 2018,
Innovative Switchgear Solutions Inc (ISG) was acquired by Eaton. The former is
a specialty producer of medium voltage electrical equipment.
ABB
By July 2018, GE
Industrial Solutions was successfully acquired by ABB. This acquisition was supposed
to develop the business of the electrification segment of the company.
Amphenol Corporation
In July 2019, a
brand-new Ecomate group of connectors with a rating of IP65-69k was launched by
Amphenol Corporation. This product was suitable for both outdoor and indoor
industrial application. Currently it is rated at 5 – 300 A.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Industrial
Plugs and Sockets Market, size of the
market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of
forecast: 2020-2028, taking into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market intelligence
report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Industrial Plugs and Sockets Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of Type of models, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Industrial Plugs and Sockets caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Industrial
Plugs and Sockets Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Industrial Plugs and Sockets Market
v
Identification
of key factors driving investment opportunities in the Industrial
Plugs and Sockets Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants