The usb wall socket market size was valued at $1.0 billion in 2021, and USB wall socket market is estimated to reach $1.6 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031. The USB wall charger (USB wall socket) refers to a universal power adapter that enables users to plug into multiple varieties of an electrical socket. A USB wall charger optimally delivers power requirements as much as the device needs. A USB wall charger is designed in a way so that it is compatible with a wide range of mobile devices such as Apple iPhone, iPad, Android phones, and laptops.
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This market is primarily driven by the increasing
proliferation of smartphones across the world. The enhanced functionality in
smartphones drains out battery too soon, which is propelling the demand for
these chargers. Additionally, features associated with the USB wall chargers
such as fast charging, compatibility, and multiple ports to charge several
devices at the same time are further likely to boost the demand for the
chargers during the forecast period. However, the presence of counterfeit
products in the market is expected to hamper the USB wall socket market growth.
A USB wall charger of varying power level and ports are
available in market. Key regulatory bodies have strict regulations to test the
safety of sockets of the USB charger. As a result, manufacturers are focusing
on producing chargers that adhere to safety standards which is expected to
influence the consumer inclination toward USB wall socket products. Alongside,
rising adoption of updated technology and increase in consumer spending
capacity on electronic goods is expected to propel the demand for USB wall
socket during the forecast period.
In Asia-Pacific, China is the largest exporter of the
electronic appliances and USB wall socket products. India is a major importer
of electronic appliances, furthermore, the presence of investments in regards
to the construction of various electronic manufacturers and increasing demand
for smart phones and smart wearable in this region will drive the demand for
USB wall socket market. European Union government has taken initiatives to
unify the USB charging standards for smartphone industry by 2024, which will
have positive impact on the market. This initiative is taken in order to reduce
the hassle for consumer and curb e-waste in regards with mobile and
electronic gadgets chargers.
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The global USB wall socket market forecast is segmented
on the basis of type, USB standard, application and region. On the basis
of type, it is segmented into two USB ports, Four USB ports, and others. On the
basis of USB standards, the market is segmented into Type-A, Type-B, and
Type-C. On the basis of application, the market is segmented into residential,
commercial and industrial. Region wise, the market is studied across North
America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for
the largest USB wall socket market share, followed by Europe and Asia-Pacific.
The major companies profiled in this report include Leviton,
Legrand, Eaton, Hubbell, Jasco Products, Lutron Electronics, TopGreener, Newer
Tech, Maxxima, Maxell Holdings Ltd., Mophie Inc., XXtreme Cables, BG
Electrical, Accel, and Anker Technology Co. Limited. Due to rapid
industrialization, urbanization and gradual increase in utilization of
electronic gadgets in the daily life has led to increase in the demand for USB
charger products. Additional growth strategies such as expansion of production
capacities, acquisition, partnership and research & innovation in new
technologies related to USB wall socket have led to attain key developments in
the global USB wall socket market trends.
Key findings of the study
- North
America would exhibit CAGR of 4.8% during 2022-2031.
- As per
global USB wall socket market analysis, by type, the two USB ports segment
accounted for the largest share in 2021.
- By USB
standards, Type-A was the leading segment in 2021.
- By
application, residential segment has largest market share in 2021.
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Impact of Covid-19 of Global USB Wall Socket Market
The global COVID-19 pandemic has negative impact on the USB
wall socket market. Owing to the outbreak of the COVID-19 pandemic, governments
of various countries have implemented lockdown, which has led to shutdown of
factories in scores of cities and provinces across the world, thus leading to
predictions of a sharp slowdown in the output from residential to industrial
sectors. Moreover, companies are dealing with missing sales and fractured
supply chains as production activities shutdowns. During the pandemic outbreak
there is a surge in the demand for USB chargers due to increase in the
utilization of electronic gadgets from home for work and most of the education
institutions across the globe have taken classes from online which led to surge
in the demand for smartphones and laptops.
Post pandemic outbreak, the gradual surge in the
construction sector and tourism industry has led to increase in the demand for
USB wall socket market opportunities. The government of various developing and
developed countries has invested in the construction of smart infrastructure
and transportation services which will drive the demand for USB wall socket
systems. The trend is expected to continue during the forecast period.
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