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The features of electric plugs and switches such as secure, safe, dust-proof, and greater reliability drive its requirement in the global market. The rapid industrialization is also an important factor that fuels the demand across various developing nations.
Rahul Kumar
Research Analyst, Semiconductor & Electronics at AMR
According to a new report by Allied Market Research, titled, Global Electric Plugs and Sockets Market by Type, Power rate, and End User: Global Opportunity Analysis and Industry Forecast, 20172024, the global electric plugs and sockets market was valued at $9,971.60 million in 2017, and is projected to reach at $15,530.20 million by 2024, growing at a CAGR of 6.7% from 2018 to 2024.
Access Full Summary at : https://www.alliedmarketresearch.com/electric-plugs-sockets-market
Electric plugs and sockets is a vital part of electrical infrastructure that allows user to connect devices with power supply. Rise in industrialization across the globe drives the growth of the electric plugs and sockets market.
In 2017, the three-pin segment dominated the market, in terms of revenue, due to the usage of more and more number of electrical and electronic appliances across residential and commercial sectors.
Asia-Pacific was the highest revenue contributor to the global electric plugs and sockets market in 2017, accounting for around 37.62% share, due to the rapid technological advancements and greater dependency on electrical and electronics equipment.
The report features a competitive scenario of the global electric plugs and sockets market and provides a comprehensive analysis of the key growth strategies adopted by major players. The key players profiled in the report are Legrand SA, Philips, Schneider Electric SE, ABB Ltd., Emerson Electric Co., Wenzhou Chmag Electrical Co Ltd., Mennekes Elecktrotechnik Gmbh, Scame Group, Amphenol Corporation, and Eaton Corp.
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Global Electric Plugs and Sockets Market by Type (Two-Pin, Three-Pin, Four-Pin, and Five-Pin), Power rate (High Power, Medium Power, and Low Power), and End User (Residential, Commercial, and Industrial) - Global Opportunity Analysis and Industry Forecast, 2018-2024
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