Europe Industrial Plugs & Sockets Market to Reach $3.61 Bn by 2025 at 4.7% CAGR, Says Allied Market Research
PORTLAND, Oregon, November 27, 2018 /PRNewswire/ --
Increased need for establishing secured connections between high voltage and high current electrical circuits in industries, growing demand for dust proof & splash proof plugs & sockets, low cost of raw materials, easy installation, and use of advanced production technologies would drive the growth of the Europe industrial plugs & sockets market.
Allied Market Research published a report, titled, Europe Industrial Plugs & Sockets Market by Product (Plugs, Connectors, Interlocked Socket Outlets, Switch Disconnectors, Distribution Board Equipped with IEC Sockets, and Others), End User (Automotive, Oil & Gas, Power Generation, Chemical & Pharmaceuticals, Marine, Entertainment, Construction, Food & Beverages, Manufacturing, and Aerospace & Defense), and Country (Italy, Spain, France, UK, DACH, Benelux, North Europe, East Europe, and Others): Opportunity Analysis and Industry Forecast, 2018 - 2025. The report offers detailed analyses of the industry dynamics, key market segments, top winning strategies, key investment pockets, and competitive scenario. As per the report, the Europe industrial plugs & sockets market generated $2.46 billion in 2017, and is expected to reach at $3.61 billion by 2025, registering a CAGR of 4.7% from 2018 to 2025.
(Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg )
Aggrandized need for establishing secured connections between high voltage and high current electrical circuits in industries coupled with high demand for dust proof & splash proof plugs & sockets due to increased awareness and government regulations about safer work environment drive the growth of industrial plugs and sockets in Europe. Moreover, low cost of raw materials, easy installation, and use of advanced production technologies supplement the market growth. However, slowdown in mining industry in Europe, which are the prime users of industrial plugs and sockets impedes the market growth. On the other hand, rapid developments in the automotive sector in Europe would create new opportunities to the market in future.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/5090
Distribution board equipped with IEC sockets segment to retain dominance through 2025
The distribution board equipped with IEC sockets segment contributed the highest share of 32% in 2017 and is expected to retain its lead position during the forecast period. Transmission and distribution networks are extensively used distribution boards equipped with IEC sockets to prevent damages to critical and expensive equipment. Thus, increase in electrical consumption across Europe is expected to result in an increase in the number of substations, which would in turn, raise the demand for distribution boards equipped with IEC sockets. However, the connectors segment would grow at the fastest CAGR of 5.8% from 2018 to 2025, owing to the growing demand for safe & reliable energy transfer across the different industrial units. There was a tremendous growth in industrial production between 2010 and 2016 across various segments such as manufacturing of machinery & equipment, electronics, and others in European countries. The report also analyzes various products such as plugs, interlocked socket outlets, distribution board equipped with IEC sockets, among others.
Power generation segment to retain lion's share throughout forecast period
Among end users, the power generation segment accounted for nearly one-fifth of the market share in 2017 and is expected to maintain its dominance throughout 2025. Europe is set to remain the second-largest wind power market until 2019, followed by North America. This development provides lucrative opportunities for industrial plugs & sockets, especially in the renewable power generation industry. However, the automotive segment would register the highest CAGR of 6.2% from 2018 to 2025. The sector contributes around 4% of the total GDP of the European Union. Rapid penetration of advanced automobiles such as electric vehicles and hybrid-electric vehicles fuels the need to boost production as well as provides an impetus to the demand for establishment of electrical networks across the countries. The report also analyzes various end user industries such as oil & gas, chemical & pharmaceuticals, marine, entertainment, construction, food & beverages, manufacturing, and aerospace & defense.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/5090
DACH countries to accrue highest revenue, East Europe to grow the fastest
DACH countries including Austria, Switzerland, and Germany, contributed about one-fourth share of the total revenue in 2017 and is expected to remain dominant through 2025. They are some of the most developed countries in the world and are the world's largest producer of automobiles. Moreover, the adoption of electric vehicles is actively supported by the German Federal Government through its policies such as National Platform for Electric Mobility. However, East Europe (Baltics, Poland, Romania, Hungary, Czech Republic, and Balkans) would grow at the highest CAGR of 6.7% from 2018 to 2025. In countries like Romania, Hungary, and Czech Republic, the growth of industrial production is extremely high. As compared to Romania whose industrial production is growing at a rate of 2.00%, the industrial sector in Hungary and Czech Republic is growing at a significant rate of 5.50% and 5.30%, respectively.
Leading market players
The leading market players analyzed in the report include Mennekes Elektrotechnik GmbH & CO. KG, PC Electric GmbH, Bals Elektrotechnik GmbH & Co. KG Scame Group, Palazzoli Group, Marechal Electric Group, Schneider Electric SE, ABB Group, Eaton Corporation plc, Legrand SA, KATKO, and Lovato Electric S.p.A. These industry players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
Purchase an enterprise user license and get 1 month complimentary access to our Knowledge Tree subscription. Offer valid till 15th November 2018. (*Terms and Conditions apply)
Get subscription: https://www.alliedmarketresearch.com/checkout/761390
Similar Reports:
Smart Mirror Market - Global Opportunity Analysis and Industry Forecast, 2018 - 2025
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Share this article