Industrial Plugs And Sockets Market
PUBLISHED: 2024 ID: SMRC24764
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Industrial Plugs And Sockets Market

Industrial Plugs & Sockets Market Forecasts to 2030 - Global Analysis By Type (Industrial Plugs, Industrial Sockets and Other Types), Material (Plastic, Metal, Wood, Paperboard and Other Materials), Protection (Dustproof and Splash Proof, Waterproof, Explosion Proof and Other Protections), Internet Protocol Rating, Ampere Rating, Current, Voltage Rating, End User and by Geography

4.6 (65 reviews)
4.6 (65 reviews)
Published: 2024 ID: SMRC24764

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Industrial Plugs & Sockets Market is accounted for $3.05 billion in 2023 and is expected to reach $4.87 billion by 2030 growing at a CAGR of 6.9% during the forecast period. Industrial plugs and sockets are essential parts of electrical systems intended for heavy-duty use in a variety of industrial environments. In settings where efficiency and resilience are crucial, these strong and long-lasting devices offer a dependable and safe way to connect electrical machinery, equipment, and power sources. Industrial plugs and sockets are compatible with a wide range of equipment and come in different configurations to accommodate varying voltage and current requirements.

According to the International Electro technical Commission (IEC), industrial plugs and sockets are standardized components that play a crucial role in ensuring the safety and efficiency of electrical connections within diverse industrial environments.

Market Dynamics: 

Driver: 

Increasing need for electricity

One of the main factors driving the market for industrial plugs and sockets is the growing need for electricity across various industrial sectors. To power machinery and equipment, industries like manufacturing, mining, and infrastructure development need strong and dependable electrical connections. Additionally, industrial plugs and sockets that can withstand high voltages and currents are in high demand due to the growing need for power in industrial settings. These plugs and sockets ensure a steady and uninterrupted power supply.

Restraint:

Financial sensitivity

The cost sensitivity of various industries is a major barrier to the industrial plug-and-socket market. Because compliant, high-quality industrial plugs and sockets are often more expensive, some businesses choose to use less expensive substitutes. Furthermore, for manufacturers and suppliers, this cost-quality trade-off can be difficult, especially in price-sensitive markets where financial restraints may prevent the use of premium- or advanced-grade electrical connectors.

Opportunity:

Growing emphasis on integration of renewable energy

Due to the increasing focus on sustainable practices and the incorporation of renewable energy sources offer a substantial opportunity. Connectors supporting equipment connected to renewable energy systems, like solar panels and wind turbines, are in greater demand as industries work to lessen their carbon footprint. Moreover, producers can profit from this trend by creating and marketing industrial plugs and sockets made especially for the dependable and effective integration of renewable energy sources.

Threat:

Strong market rivalry

The market for industrial plugs and sockets could be threatened by fierce rivalry between suppliers and manufacturers. Many competitors offering comparable products can result in price wars, narrowed profit margins, and difficulties holding onto market share. Additionally, in order to stay competitive in a crowded market, businesses must counter this threat by concentrating on differentiation through innovation, quality, and value-added services.

Covid-19 Impact: 

The industrial plugs and sockets market has been greatly affected by the COVID-19 pandemic, leading to disruptions in supply chains, manufacturing, and demand dynamics. There were fewer orders and fewer electrical connectors produced as a result of the initial lockdowns and restrictions, slowing down industrial activity. The market faced difficulties as a result of labor shortages and disruptions in the supply chain, but in the later stages of the pandemic, automation and digitization received more attention, which increased demand for technologically sophisticated industrial plugs and sockets to support changing manufacturing techniques. 

The Plastic segment is expected to be the largest during the forecast period

The plastics segment of the market has the largest share during the anticipated period. Due to its cost-effectiveness, lightweight, durability, and versatility, plastic is widely used in the packaging, construction, automotive, and consumer goods industries. Because plastic can withstand harsh environments, meet safety requirements, and offer dependable insulation, it is widely used in the manufacturing sector for components like industrial plugs and sockets. Moreover, the ongoing advancements in polymer technology have made it possible to produce a high-performing and environmentally friendly plastic material, which has further increased demand for plastic components.

The Power Generation segment is expected to have the highest CAGR during the forecast period

The market's highest CAGR is being seen in the power generation segment. Large investments have been made in the power generation industry as a result of the rising demand for energy on a worldwide scale and the growing emphasis on renewable and sustainable power sources. Additionally, the use of renewable energy sources, like solar and wind power, has increased energy production through technological advancements, which has increased demand for specialized tools and parts, like industrial plugs and sockets. This increase is attributed to the power generation sector's integration of smart technologies and ongoing modernization of the power infrastructure.

Region with largest share:

The region with the largest market share for industrial plugs and sockets is the Asia-Pacific region. The region's strong industrialization is credited with this dominance, especially in China and India, where the demand for industrial plugs and sockets is driven by extensive manufacturing. The market in this region has been further driven by expanding infrastructure development, safety, and compliance with international standards. Furthermore, the Asia-Pacific region holds a substantial share in the global industrial plugs and sockets market due to its economic growth, technological advancements, and presence of key industries.

Region with highest CAGR:

It is projected that the industrial plugs and sockets market will grow at the highest CAGR in the European region. The strict safety laws and standards that are in place throughout Europe are fueling the market's expansion by encouraging businesses to invest in high-quality and compliant electrical connectors. Moreover, the growing need for sophisticated industrial plugs and sockets in Europe is partly due to the continued focus on sustainability and energy efficiency. Significant manufacturing and infrastructure advancements are taking place in EU member states, which is driving up market demand.

Key players in the market

Some of the key players in Industrial Plugs & Sockets market include Marechal Electric Group, Emerson Electric Co., Amphenol Corporation, Eaton, HENGTONG ELECTRIC CO.,LTD, ABB, Palazzoli S.p.a, C&S Electric Limited, Schneider Electric, Rikkon Lubes Pvt. Ltd, Sibass Electric Private Limited and BCH Electric Limited.

Key Developments:

In December 2023, ABB has signed an agreement with UK-based gravity energy storage firm Gravitricity to explore how hoist expertise and technologies can accelerate the development and implementation of gravity energy storage systems in former mines. Gravitricity has developed GraviStore, an innovative gravity energy storage system that raises and lowers heavy weights in underground shafts – to offer some of the best characteristics of lithium-ion batteries and pumped hydro storage.

In September 2023, Intelligent power management company Eaton announced an exclusive global alliance with Michigan-based technology developer Traxen to sell, distribute, service, and provide installation support for their cutting-edge iQ-Cruise® system. This collaboration aims to support the commercial transportation industry by improving fuel efficiency and environmental sustainability while helping fleet profitability.
 
In August 2023, Emerson announced a definitive agreement to acquire FLEXIM Flexible Industriemeßtechnik GmbH, a global leader in clamp-on ultrasonic flow measurement for liquids, gases and steam. Headquartered in Berlin, Germany, Flexim brings highly differentiated, complementary technology and strong customer relationships to Emerson, with an installed base of more than 100,000 flowmeters, as well as approximately 450 employees.

Types Covered:
• Industrial Plugs
• Industrial Sockets
• Other Types 
 
Materials Covered:
• Plastic
• Metal
• Wood
• Paperboard 
• Other Materials 

Protections Covered:
• Dustproof and Splash Proof
• Waterproof
• Explosion Proof
• Other Protections 

Internet Protocol Ratings Covered:
• IP 44/45 
• IP 66/67 
 
Ampere Ratings Covered:
• 16A
• 32A
• 63A 
• 125A
• Other Ampere Ratings 

Currents Covered:
• Up to 32 A
• 32 to 125 A
• Above 125 A

Voltage Ratings Covered:
• 24 to 42 V
• 42 to 110 V
• 110 to 230 V
• 230 to 400 V 
• Above 400 V 
 
End Users Covered:
• Heavy Industries
• Oil and Gas
• Chemicals and Pharmaceuticals
• Power Generation
• Agriculture
• Military
• Sports
• Entertainment
• Other End Users 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary             
              
2 Preface             
 2.1 Abstract            
 2.2 Stake Holders            
 2.3 Research Scope            
 2.4 Research Methodology            
  2.4.1 Data Mining           
  2.4.2 Data Analysis           
  2.4.3 Data Validation           
  2.4.4 Research Approach           
 2.5 Research Sources            
  2.5.1 Primary Research Sources           
  2.5.2 Secondary Research Sources           
  2.5.3 Assumptions           
              
3 Market Trend Analysis             
 3.1 Introduction            
 3.2 Drivers            
 3.3 Restraints            
 3.4 Opportunities            
 3.5 Threats            
 3.6 End User Analysis            
 3.7 Emerging Markets            
 3.8 Impact of Covid-19            
              
4 Porters Five Force Analysis             
 4.1 Bargaining power of suppliers            
 4.2 Bargaining power of buyers            
 4.3 Threat of substitutes            
 4.4 Threat of new entrants            
 4.5 Competitive rivalry            
              
5 Global Industrial Plugs & Sockets Market, By Type             
 5.1 Introduction            
 5.2 Industrial Plugs            
 5.3 Industrial Sockets            
 5.4 Other Types            
              
6 Global Industrial Plugs & Sockets Market, By Material             
 6.1 Introduction            
 6.2 Plastic            
 6.3 Metal            
 6.4 Wood            
 6.5 Paperboard             
 6.6 Other Materials            
              
7 Global Industrial Plugs & Sockets Market, By Protection             
 7.1 Introduction            
 7.2 Dustproof and Splash Proof            
 7.3 Waterproof            
 7.4 Explosion Proof            
 7.5 Other Protections            
              
8 Global Industrial Plugs & Sockets Market, By Internet Protocol Rating             
 8.1 Introduction            
 8.2 IP 44/45             
 8.3 IP 66/67            
              
9 Global Industrial Plugs & Sockets Market, By Ampere Rating              
 9.1 Introduction            
 9.2 16A            
 9.3 32A            
 9.4 63A             
 9.5 125A            
 9.6 Other Ampere Ratings            
              
10 Global Industrial Plugs & Sockets Market, By Current             
 10.1 Introduction            
 10.2 Up to 32 A            
 10.3 32 to 125 A            
 10.4 Above 125 A            
              
11 Global Industrial Plugs & Sockets Market, By Voltage Rating              
 11.1 Introduction            
 11.2 24 to 42 V            
 11.3 42 to 110 V            
 11.4 110 to 230 V            
 11.5 230 to 400 V             
 11.6 Above 400 V            
              
12 Global Industrial Plugs & Sockets Market, By End User             
 12.1 Introduction            
 12.2 Heavy Industries            
 12.3 Oil and Gas            
 12.4 Chemicals and Pharmaceuticals            
 12.5 Power Generation            
 12.6 Agriculture            
 12.7 Military            
 12.8 Sports            
 12.9 Entertainment            
 12.10 Other End Users            
               
13 Global Industrial Plugs & Sockets Market, By Geography             
 13.1 Introduction            
 13.2 North America            
  13.2.1 US           
  13.2.2 Canada           
  13.2.3 Mexico           
 13.3 Europe            
  13.3.1 Germany           
  13.3.2 UK           
  13.3.3 Italy           
  13.3.4 France           
  13.3.5 Spain           
  13.3.6 Rest of Europe           
 13.4 Asia Pacific            
  13.4.1 Japan           
  13.4.2 China           
  13.4.3 India           
  13.4.4 Australia           
  13.4.5 New Zealand           
  13.4.6 South Korea           
  13.4.7 Rest of Asia Pacific           
 13.5 South America            
  13.5.1 Argentina           
  13.5.2 Brazil           
  13.5.3 Chile           
  13.5.4 Rest of South America           
 13.6 Middle East & Africa            
  13.6.1 Saudi Arabia           
  13.6.2 UAE           
  13.6.3 Qatar           
  13.6.4 South Africa           
  13.6.5 Rest of Middle East & Africa           
              
14 Key Developments             
 14.1 Agreements, Partnerships, Collaborations and Joint Ventures            
 14.2 Acquisitions & Mergers            
 14.3 New Product Launch            
 14.4 Expansions            
 14.5 Other Key Strategies            
              
15 Company Profiling             
 15.1 Marechal Electric Group             
 15.2 Emerson Electric Co.            
 15.3 Amphenol Corporation            
 15.4 Eaton            
 15.5 HENGTONG ELECTRIC CO.,LTD            
 15.6 ABB            
 15.7 Palazzoli S.p.a            
 15.8 C&S Electric Limited            
 15.9 Schneider Electric             
 15.10 Rikkon Lubes Pvt. Ltd            
 15.11 Sibass Electric Private Limited            
 15.12 BCH Electric Limited            
              
List of Tables              
1 Global Industrial Plugs & Sockets Market Outlook, By Region (2021-2030) ($MN)             
2 Global Industrial Plugs & Sockets Market Outlook, By Type (2021-2030) ($MN)             
3 Global Industrial Plugs & Sockets Market Outlook, By Industrial Plugs (2021-2030) ($MN)             
4 Global Industrial Plugs & Sockets Market Outlook, By Industrial Sockets (2021-2030) ($MN)             
5 Global Industrial Plugs & Sockets Market Outlook, By Other Types (2021-2030) ($MN)             
6 Global Industrial Plugs & Sockets Market Outlook, By Material (2021-2030) ($MN)             
7 Global Industrial Plugs & Sockets Market Outlook, By Plastic (2021-2030) ($MN)             
8 Global Industrial Plugs & Sockets Market Outlook, By Metal (2021-2030) ($MN)             
9 Global Industrial Plugs & Sockets Market Outlook, By Wood (2021-2030) ($MN)             
10 Global Industrial Plugs & Sockets Market Outlook, By Paperboard (2021-2030) ($MN)             
11 Global Industrial Plugs & Sockets Market Outlook, By Other Materials (2021-2030) ($MN)             
12 Global Industrial Plugs & Sockets Market Outlook, By Protection (2021-2030) ($MN)             
13 Global Industrial Plugs & Sockets Market Outlook, By Dustproof and Splash Proof (2021-2030) ($MN)             
14 Global Industrial Plugs & Sockets Market Outlook, By Waterproof (2021-2030) ($MN)             
15 Global Industrial Plugs & Sockets Market Outlook, By Explosion Proof (2021-2030) ($MN)             
16 Global Industrial Plugs & Sockets Market Outlook, By Other Protections (2021-2030) ($MN)             
17 Global Industrial Plugs & Sockets Market Outlook, By Internet Protocol Rating (2021-2030) ($MN)             
18 Global Industrial Plugs & Sockets Market Outlook, By IP 44/45 (2021-2030) ($MN)             
19 Global Industrial Plugs & Sockets Market Outlook, By IP 66/67 (2021-2030) ($MN)             
20 Global Industrial Plugs & Sockets Market Outlook, By Ampere Rating (2021-2030) ($MN)             
21 Global Industrial Plugs & Sockets Market Outlook, By 16A (2021-2030) ($MN)             
22 Global Industrial Plugs & Sockets Market Outlook, By 32A (2021-2030) ($MN)             
23 Global Industrial Plugs & Sockets Market Outlook, By 63A (2021-2030) ($MN)             
24 Global Industrial Plugs & Sockets Market Outlook, By 125A (2021-2030) ($MN)             
25 Global Industrial Plugs & Sockets Market Outlook, By Other Ampere Ratings (2021-2030) ($MN)             
26 Global Industrial Plugs & Sockets Market Outlook, By Current (2021-2030) ($MN)             
27 Global Industrial Plugs & Sockets Market Outlook, By Up to 32 A (2021-2030) ($MN)             
28 Global Industrial Plugs & Sockets Market Outlook, By 32 to 125 A (2021-2030) ($MN)             
29 Global Industrial Plugs & Sockets Market Outlook, By Above 125 A (2021-2030) ($MN)             
30 Global Industrial Plugs & Sockets Market Outlook, By Voltage Rating (2021-2030) ($MN)             
31 Global Industrial Plugs & Sockets Market Outlook, By 24 to 42 V (2021-2030) ($MN)             
32 Global Industrial Plugs & Sockets Market Outlook, By 42 to 110 V (2021-2030) ($MN)             
33 Global Industrial Plugs & Sockets Market Outlook, By 110 to 230 V (2021-2030) ($MN)             
34 Global Industrial Plugs & Sockets Market Outlook, By 230 to 400 V (2021-2030) ($MN)             
35 Global Industrial Plugs & Sockets Market Outlook, By Above 400 V (2021-2030) ($MN)             
36 Global Industrial Plugs & Sockets Market Outlook, By End User (2021-2030) ($MN)             
37 Global Industrial Plugs & Sockets Market Outlook, By Heavy Industries (2021-2030) ($MN)             
38 Global Industrial Plugs & Sockets Market Outlook, By Oil and Gas (2021-2030) ($MN)             
39 Global Industrial Plugs & Sockets Market Outlook, By Chemicals and Pharmaceuticals (2021-2030) ($MN)             
40 Global Industrial Plugs & Sockets Market Outlook, By Power Generation (2021-2030) ($MN)             
41 Global Industrial Plugs & Sockets Market Outlook, By Agriculture (2021-2030) ($MN)             
42 Global Industrial Plugs & Sockets Market Outlook, By Military (2021-2030) ($MN)             
43 Global Industrial Plugs & Sockets Market Outlook, By Sports (2021-2030) ($MN)             
44 Global Industrial Plugs & Sockets Market Outlook, By Entertainment (2021-2030) ($MN)             
45 Global Industrial Plugs & Sockets Market Outlook, By Other End Users (2021-2030) ($MN)             
              
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.              

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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