The growing implementation of building automation in urban commercial spaces and the high rate of replacement and refurbishment of old energy distribution networks will remain the key factors supporting the sales of industrial plugs and switches.Thriving infrastructure developments and a general shift towards alternative energy generation would further create a significant growth opportunity in the global industrial plug and socket market.
As indicated by a new research study from Persistence Market Research (PMR), the demand for industrial plugs and sockets will reach28 millionunits by the end of2023.The market is expected to observe a moderate CAGR over the projection period,2019-2029. Universal A/C Remote Control
To stay ahead of your competitors, request a Sample @https://www.persistencemarketresearch.com/samples/23317
Key Points Industrial Plugs and Sockets Market Report
For critical insights into this market, request customization here@https://www.persistencemarketresearch.com/request-customization/23317
Competitive landscape intensified and fragmented
The market for industrial plugs and sockets is fragmented due to the presence of numerous national and international manufacturers.Major players in the industrial plug and socket market, such asAmphenol Corporation, Schneider, Emerson Electric Co., Siemens AG, Havells and Legrand SA, are making their way into new markets through the acquisition of local players.On the other hand, domestic manufacturers of industrial plugs and sockets are challenging international players for market participation through low-cost product offerings and established distribution channels.
With no universally accepted substitute on the market, the industrial plug and socket market is set to witness healthy demand in the wake of rising industrial production index and robust growth in modernization of the power distribution network, too. if at a moderate pace.
For in-depth competitive analysis, buy now @https://www.persistencemarketresearch.com/checkout/23317
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients business needs.
Address 305 Broadway, 7th Floor, New York City, NY 10007 United States U.S. Ph. +1-646-568-7751 USA-Canada Toll-free +1 800-961-0353 Sales sales@persistencemarketresearch.com
Smart WiFi Switch Socket © 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.