Degaussing System Market By Solution (Degaussing, Ranging, Deperming), By Vessel Type (Small Vessels, Medium Vessels and Large Vessels), By End User (Original Equipment Manufacturer, Aftermarket, and Services), and, By Region - Trends, Analysis and Forecast till 2034

Report Code: PMI90419 | Publish Date: April 2024 | No. of Pages: 172

Global Electric Plugs Market By Overview

Electric plugs market size was valued at USD 14.59 Billion in 2024 and is expected to reach USD 25.1 Billion by 2034, growing at a CAGR of 5.60%.

Electric plugs connect gadgets to the main power source and provide the necessary electricity; An electrical instrument connects to a connector, typically through an electrical cable. Actually, this opening, occasionally referred as an outlet, is usually connected to an AC power outlet and fixed to the inner wall of buildings. The circuit above can be utilized to provide power to the devices by plugging is inside.

Connecting electronic gadgets to a source of alternating current is rendered easy by the use of the plug and socket system. These parts are made to connect machinery and other devices that operate across varying currents and voltages in reliable electrical interconnections. They possess a strong effect with an excellent barrier to electrical current.

There are also variations in connector type, shape, dimension, voltage, and levels of current. More types of electrical sockets and plugs are being created due to the growing emphasis upon conservation and conserving energy. Smart outlets and devices that may be remote controlled for optimal consumption of electricity are some of the newly developed technologies that are growing traction.

In addition, a growing emphasis on safeguarding rules and suggestions is enhancing protection and durability of connector and circuit designs, incorporating ground malfunction breakers (GFCIs). If possible to reduce the possibility of getting an electrical discharge.

Electric Plugs Market Report

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Global Electric Plugs Market By Drivers & Restraints

Key Drivers of Target Market:

Growing demand for appliances and electronics for consumers

  • The marketplace of electronic goods, including laptops, televisions, kitchen appliances, and cell phones, is expanding, this increases demand for different types of electrical plugs. As a consequence of growing development and higher standard of living, many more individuals are going shopping for gadgets that operate electronically, that leads to up need for the sockets and plugs than go with equipment.

Technological developments in smart houses

  • The development of technologies for smart homes, the electrical devices manufacturing is growing significantly. Smart gadgets connected with voice assistant and Internet of Things (IoT) connections comprise some of the developments that allow homes to remotely control their electrical consumption and improve performance. This development is going to promote widespread implementation of smart homes while improving their efficiency and durability.

Restrains:

Raw Material Costs

  • Given the changes in the marketplace, the price of the basic components needed for producing electronic machinery, including aluminum, copper, and plastics, may differ. Increasing expenses for the basics increase the total expense of production, thus making it difficult for manufacturers to continue to maintain their costs profitable, especially for products with lower margins of profit.

Disruption of technology

  • Demand in particular market groups may decrease as mobile and intelligent payment methods develop adoption. Technological advances like wireless charging lessen the need for traditional plugs, and may lower the market for these sorts of products.

Opportunities:

Developing nations are becoming more electrified

Electricity systems and shops are going to become increasingly more in demand as nations that are developing improve their electrical systems to provide better availability of energy. South American, African, and Asian markets are expected to expand considerably in this field as a consequence of increasing urbanization and government efforts that encourage power.

Global Electric Plugs Market By Segmentations & Regional Insights

The market is segmented based on Type, Power, End-User, and Region.

Type Insights:

  • Two Pin: Two pins, connects to both the "hot" and a "neutral slot of the socket on a two-pin socket. The hot pins is connected through the socket's warm slots. For the purpose of to supply electricity to the load, device pulls power from the electrical outlet. Electricity returns between the outlets and the electrical source through a neutral pin that is connected to the neutral position of the sockets. Two-slot plugs are readily connected with two-pronged connectors.
  • Three Pin: Several significant causes possess influenced the expansion of the 3-pin electrical plug & socket marketplace, resulting in them being essential parts of modern electrical installations. Growing electricity, uniformity, and progress in technology constitute a number of these drivers to choose from. Safety concerns caused a major effect on the growth of the segment. Three-pin sockets and plugs include a feature termed grounded pins that enable extra electricity to be quickly and securely released into the earth, improving safety when using electricity.
  • Four Pin: There is an obvious rise in demand for technological products, particularly devices with four pin layout, in the market. The increase may be related to the increasing array of manufacturing machinery and specialized devices that need dependable and secure interconnections. Generally observed in applications requiring considerable strength, four-segment circuits offer safety and grounds for machinery operating above greater voltages.
  • Five Pin: The marketplace of five-pin electrical sockets and plugs is growing primarily a consequence of an array of significant explanations that reflect evolving customers, industry, and technological requirements. To advanced c food preparation devices to devices for smart homes, the increasing number of electrical products is increasing demand for versatile and safe electrical connections. Effective control and power supply of an extensive variety of equipment is rendered feasible by the adaptability of five-pin distinctions and socket. Organizations are embracing robotics and automation in a faster pace. Five-pin connections, which are essential to devices and machinery in the manufacturing, transportation, and other sectors, offer reliable electricity as well as data transfer.

Power Insights:

  • High Power: According to the increasing demand of premium equipment in commercial, industrial, and family settings, the marketplace for electrical devices is growing rapidly. Technology advancements have made is easier to build more powerful a longer-lasting connectors that endure larger power loads, satisfying the worldwide demand for safe and dependable electrical systems.
  • Medium Power: The capacity connection market concentrates on inexpensive power uses, which are characterized as a growing need for dependable and long-lasting options for various residential and business uses. The ultimate goals of connector improvement as technology progresses involve meeting a wider variety of current and voltage requirements, longer lifespans, and a growing variety of protections.
  • Low Power: The increasing demand for dependable options in residential as well as business environments leads to an ongoing increase in the marketplace for low-consumption electrical connections. According to a wide range of devices and electronic devices that demand low strength consumption, market demand for small, efficient connectors is growing, increasing consumers freedom and advancements in technology.

End-User Insights:

  • Residential: Due to the increasing demands of customers for greater safety and ease of use, the market for gadgets for homes is growing steadily. The marketplace is currently driven by the introduction of new connector designs and the growth of home automation the internet that is resulting in an increasing number of revolutionary and simple to use electronic products in houses.
  • Commercial: The marketplace for plugs for electricity is currently growing as companies need reliable and efficient wiring for their appliances. Socket architecture is currently pushed by current advances in technology and rising standards for security that are rendering plugs more effective and appropriate for an increased number of commercial applications.
  • Industrial: Given to the increasing demand for reliable and effective electrical wiring by companies, the marketplace for electric connectors is growing quickly. Determined, outstanding performance electrical networks are required as the industry develops utilizing advanced technologies to maintain efficiency and safety.

Regional Insights

  • North America: In North America, due to the growing use of electric sockets and plugs across residential and business settings, the region is expected to have the largest share of the market in the electrical outlets and socket market during the projected time frame. In addition, an excellent infrastructure and a growing building sector are anticipated to fuel the demand for electrical sockets and plugs in this region.
  • Asia Pacific: As greater numbers of individuals choose to live in towns, the Asia-Pacific region is growing significantly more urban. This development is driving up the need for plugs and plugs, and that in turn increases raised need for electricity infrastructure in residential, business, and industrial environments.
  • Europe: The Europe is developing demand for electrical sockets and plugs across an array of uses, primarily in homeowners, is the main driver of the marketplace in European. The electricity that are dependable and adaptable are becoming increasingly essential as smart home systems are increasingly adopted by households.
  • Latin America: The primary factor particularly emphasizes the development of these elements is the strength of sector's growing digitalization. One of the primary factors driving the electrical distribution element market in Latin America is the growing automation of power distribution gadgets, that significantly decreases the quantity of energy produced.
  • Middle East and Africa: The electrical system equipment sector in the Middle East and Africa is growing as a consequence of growing urbanization and industrialization. Standard and dependable power lines are growing ever more needed in the region's industrial and household sectors.

Electric Plugs Market Report Scope:

Attribute

Details

Market Size 2024

USD 14.59 Billion 

Projected Market Size 2034

USD 25.1  Billion

CAGR Growth Rate

5.60%

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Billion & CAGR from 2024 to 2034

Market Segmentation

By Type - Two Pin, Three Pin, Four Pin, and Five Pin

By Power - High Power, Medium Power, and Low Power

By End User - Residential, Commercial, and Industrial.

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the target market report based on Type, Application, End-User, and Region.

Segmentation:

By Type:

  • Two Pin
  • Three Pin
  • Four Pin
  • Five Pin

By Power:

  • High Power
  • Medium Power
  • Low Power

By End-User:

  • Residential
  • Commercial
  • Industrial

By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Global Electric Plugs Market By Competitive Landscape & Key Players

The key players operating in the Electric Plugs Market include legrand sa, Koninklijke Philips N.V., Schneider Electric SE, ABB Ltd, Emerson Electric Co., Wenzhou Chmag Electrical Co Ltd., Mennekes Elecktrotechnik Gmbh, Scame Group, Amphenol Corporation, Eaton Corp, Fuji Electric Co., Ltd., Rockwell Automation, Inc. and Honeywell International Inc.

Global Electric Plugs Market By Recent News

  • In February 2023, Amphenol Industrial Operations, and a world leader in interconnection remedies, expanded the ePower-Lite portfolios by including a 3-pole connection. Featuring a quick locking and press-to-release layout, the ePower-Lite 5.7 mm connects PTC/AC to DC and its related management boxes, such as power distribution devices.
  • In July 2023, Renowned energy conservation and control digital innovator Schneider Electric recently showed a new modular, adaptable system for replacing conventional domestic electrical wiring with intelligent panel capabilities. This sort of technology is more affordable than current smart panel’s alternatives while offering consumers with worldwide app-based management at a simpler installation method. The Schneider Energy Monitor and new Square as a way DTM Controlling Relays are additionally featured.

Global Electric Plugs Market By Company Profile

  • Legrand sa *
  • Koninklijke Philips N.V.
  • Schneider Electric SE
  • ABB Ltd
  • Emerson Electric Co.
  • Wenzhou Chmag Electrical Co Ltd.
  • Mennekes Elecktrotechnik Gmbh
  • Scame Group
  • Amphenol Corporation
  • Eaton Corp
  • Fuji Electric Co., Ltd.
  • Rockwell Automation, Inc.
  • Honeywell International Inc.

FAQs

Electric Plugs Market Size was valued at USD 14.59 Billion in 2024 and is expected to reach USD 25.1 Billion by 2034 growing at a CAGR of 5.60%.

Electric Plugs Market is segmented into Type, Power, End-User, and Region.

Factors driving the market include the growing demand for appliances and electronics for consumers and technological developments in smart houses.

The Electric Plugs Market's restraints include raw material costs.

The Electric Plugs Market is segmented by region North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa. North America is expected to dominate the Market.

The key players operating in the Electric Plugs Market include legrand sa, Koninklijke Philips N.V., Schneider Electric SE, ABB Ltd, Emerson Electric Co., Wenzhou Chmag Electrical Co Ltd., Mennekes Elecktrotechnik Gmbh, Scame Group, Amphenol Corporation, Eaton Corp, Fuji Electric Co., Ltd., Rockwell Automation, Inc., and Honeywell International Inc.