Electrical plugs and sockets are power devices that are connected to the alternative current (AC) power source. The voltage and the current level, shape, size and design of connectors differ in electrical plugs and sockets and are designed to meet safety and reliability standards.
What are opportunities that will drive the growth?
Haseeb
The global electric plugs and sockets market size was US$ 7 billion in 2018 and is anticipated to reach US$ 9 billion by 2025.
The global market for electrical plugs and sockets is expected to see substantial growth in the future due to increased industrialisation across various developed and developing countries. Smart cities and affordable home projects with safe, dust and shield proof are various factors expected to fuel the growth of the global electrical plug and socket market.
The growing reliance on electrical goods is currently driving demand for more sockets in the residential market. In fact, the safety features included in these plugs and sockets such as dust and waterproof along with fireproof capability are also going to provide renewed growth opportunities to the electric plugs and sockets market.