The global electric plugs and sockets market was valued at $9,971.60 million in 2017, and is estimated to reach $15,530.20 million by 2024, growing at a CAGR of 6.7% from 2018 to 2024. Electric plugs and sockets are used for establishing protected electric connections in machines and equipment, which work on different frequencies and voltages. They are designed as a system to meet standards for safety and reliability. The global electric plugs and sockets market is expected to witness significant growth in the future, owing to increase in the industrialization across various developed and developing nations.
The Asia-Pacific electric plugs and sockets market is expected to register the highest CAGR during the forecast period, due to the rapid technological advancements and increase in dependency on electrical & electronics products by the growing population in the region.
Major Key Players of the Electric Plugs and Sockets Market are:Legrand, Philips, Schneider Electric SE, ABB, Emerson Electric Co, Wenzhou Chmag Electrical, Mennekes Elecktrotechnik Gmbh, Scame Group, Amphenol Corporation, and Eaton Corp.
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