Industrial Plugs & Sockets Market Promises Robust Growth, Thanks to Electric vehicles

The industrial plugs & sockets market is expected to witness major growth, as worldwide drive for emission control and increasing advancement in automobile sector drive growth of electric vehicles. Currently, all major global vehicle manufacturers are testing their own version of electric vehicles and these are expected to hit the road by 2025. Moreover, some manufacturers like Tesla have already taken a huge lead in setting up electric vehicle infrastructure which supports both manufacturing, and battery charging stations. The rising demand for plug-in technologies, and sensor-based growth of electric vehicles are expected to drive significant demand for industrial plus and sockets market in the near future. Moreover, charging stations will also require considerable plugs and sockets technogy as maintaining them in public will require considerable weatherproof, and fireproof solutions widely used in industrial plugs and sockets.

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Rising Cloud Infrastructure Will Drive Major Growth for the Industrial Plugs and Sockets Market

Various tech giants like Google, Amazon, and Microsoft are betting big on the cloud technology. This technology requires extensive infrastructure including datacenters, cooling technology, and stringent consideration for energy efficiency as well as hazard proof mechanisms. The industrial plugs and sockets are witnessing a major demand in the area as advanced solutions make way for sensor-based electricity usage, and consequent growth of energy efficiency. Energy efficiency is essential in this industry for cost-savings, as well as considerations for the energy sustainability. Moreover, technologies like Big Data, Machine Learning, and 3D printing are expected to provide a major impetus for businesses to move to the cloud. Furthermore, many businesses are also moving to cloud for the benefits of virtual environments, cost-savings, and growing reliance on cloud applications. The rising demand for cloud solutions, considerable expansion of datacenters, and major demand for industrial plugs and sockets in the arena are expected to drive growth.

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Industrial Plugs & Sockets Market : Technological Advancements to Play Important Role in Market Growth

Industrial Plugs & Sockets Market: Snapshot

The global industrial plugs and socket market will witness an upward growth in the period from 2017 to 2025 on account of the growing construction and infrastructure development activities across the globe, especially in Asia. The manufacturing sector in Asian countries is growing and the sector is witnessing a revival in North America. This is having a positive impact on the global industrial plugs and sockets market.

Among the various end use industries, it is the heavy industry segment which is anticipated to fuel the demand for industrial plugs and socket. The growth in the food processing, textile, and automobile industries is behind the burgeoning growth of the heavy industry segment during the forecast period from 2017 to 2025.

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Players in the market are constantly vying for product innovation. Competing on the basis of price and product quality, manufacturers across the industrial plugs and socket market are expected to witness stiff completion from one another. A growing trend in the global industrial plugs and socket market is the demand for dustproof plugs and sockets. Splash-proof sockets and plugs for industrial use have also become popular and gaining traction. While initially water proof industrial plugs and sockets were in high demand, the focus has shifted to splash proof and dust proof variants of industrial plugs and sockets, as these have wider industrial applications.

Global Industrial Plugs & Sockets Market: Overview

Industrial plugs and sockets are mainly used for making secure electric connection for equipment working under different voltages and frequencies. These appliances have wide applications in industries such as power generation and oil and gas, since they are splash proof, impact resistant, dust proof, and heat resistant. The industrial plugs and sockets have multifunctional applications in farming and commerce and may also include screw-less connection techniques for wires and cables.

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The report on the global industrial plugs and sockets provides a comprehensive insight into key market dynamics, strategies of major manufacturers and suppliers, current and emerging trends, and the competitive landscape. The research analysis highlights the relevant national and international standards for the technical specifications and evaluates the impact of recent technological advancements on the competitive dynamics. The study provides an elaborate analysis of the raw materials sourcing strategies of prominent manufacturers and product enhancements unveiled by them to diversify their product offerings in major regions. Prepared after thorough primary and secondary research, the report offers pertinent data on the market revenue and size of key segments. It primarily aims to help the market players in effective strategy formulation with all the relevant information.

Global Industrial Plugs & Sockets Market: Drivers, Trends, and Opportunities

The rising construction and development activities in Asia Pacific, a rapidly growing manufacturing sector in South East Asia, and considerable investments in oil and gas industry in the Middle East are the primary factors fuelling the growth of the industrial plugs and sockets market. Combined with this, the low cost of the raw materials and the use of advanced production technologies are expected to propel the demand for industrial plugs and sockets across the globe.

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The lack of awareness about the advantages of industrial plugs and sockets along with the high cost involved in transportation of the products are likely to impede the growth of the market to an extent. Furthermore, slowing down of the industrial sector in China may also hinder the market growth in the region. However, rising industrial investment in various ASEAN countries and the growth of the construction sector and mining sector in Africa will unlock exciting growth opportunities for the market players.

Global Industrial Plugs & Sockets Market: Regional Outlook

The Asia Pacific region is expected to witness significant demand for industrial plugs and sockets. The growth of the regional market will be driven by the advancement in production technologies and the increased demand for plugs and sockets in emerging nations of Asia Pacific.  Increased demand for premium products that conform to international testing certifications in the U.S. and Canada has boosted the industrial plugs and sockets market.  Owing to the low cost of the raw materials, the market is expected to witness impressive growth in Europe and other regions as well.

Global Industrial Plugs & Sockets Market: Competitive Outlook

Leading manufacturers are continuously employing state-of-the-art production technologies and launching high-end products to gain a stronghold in the global market for industrial plugs and sockets. Some such prominent players vying for a significant share in the market are Scame Group, Legrand SA, Palazzoli Group, Amphenol Corporation, Mennekes, Marechal Electric Company, Schneider Electric, and Marechal Electric Group.

Asia Pacific Stands Out as Heavy Industries Boom

San Francisco, California, October 26, 2017: TMR Research states the global industrial plugs and sockets market is slated to witness a steady growth rate in the coming years. The research report, titled “Industrial Plugs & Sockets Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” has been compiled using primary and secondary research methodologies. The investigative approach of the research analysts allows to readers to get a microscopic view of the global market. The publication highlights the drivers, strengths, weaknesses, and opportunities present in the global market. The detailed analysis of the important segments of the global market emphasize the trends that are likely to shape the trajectory of the overall market in the coming years.

The research report states that the global industrial plugs and sockets market is likely to find impetus as the demand for consumer goods picks up pace. The rising sale of appliances has played an important role in soaring sale of plugs and sockets, which are used for securing electric connection for equipment. These plugs and sockets are used in every industrial sector. Their impact resistant, splash proof, heart resistant, and dust proof qualities make them the best choice for ensuring smooth appliance usage. Growing sophistication of industrial plugs and sockets has also offered several lucrative opportunities to the overall market.

The rapid technological advancements in production of these plugs and sockets has also propelled the market. The growing employment and improving disposable income has also led to a fertile ground for growth for the market. Affordable prices of industrial plugs and sockets have also allowed the market to flourish in recent years.

The end users of industrial plugs and sockets are power generation, oil and gas, chemical and pharmaceutical, heavy industries, and other industries. Out of these, the analysts predict that the heavy industries are expected to lead the pack. Thus, progress of heavy industries such as construction, metals & mining, food processing, textile, and automotive is likely to have direct impact on the global market. Analysts predict that emerging economies will see a huge uptake of industrial plugs and sockets as these countries are likely to see heavy investment in various sectors in coming years.

Regionally, the global industrial plugs and sockets market is segmented into Asia Pacific, Europe, North America, and the Middle East and Africa. Out of these, the Asia Pacific market is slated to lead the pack. Emergence of heavy industries in the region such as steel, automotive, shipping, and other manufacturing industries are expected to drive this regional market in the near future. Rising investments by big players in the region are also anticipated to boost this market over the forecast period.

Some of the leading players operating in the global industrial plugs and sockets market are Marechal Electric Group, Scame Group, Legrand SA, Mennekes, Palazzoli Group, Amphenol Corporation, Schneider Electric, and Marechal Electric Company. The research report provides a detailed explanation of the competitive landscape present in the global market. It evaluates the research and development statuses of these leading players, their financial outlooks, and their business strategies for coming years. Additionally, with the help of Porter’s five forces analysis the research report highlights the threat to the existing players from new entrants. The exhaustive report inspects the micro and macro-economic aspects pertaining to the overall market to determine its development in the coming years.

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