The India industrial plug and socket market is expected to grow from US$ 209.54 million in 2019 to US$ 349.79 million by 2027; it is estimated to grow at a CAGR of 6.8% from 2020 to 2027.
The major stakeholders in India industrial plugs and socket market ecosystem include component/material supplier, OEMs/Product Manufacturers, retailers and authorized distributors, and end users. The demand for industrial plugs and socket owing to the exposure of dust, water, splash, and are available in different ratings is anticipated to rise in the coming years. In the market ecosystem, component/material providers offer different and robust material such as PA/PB and PVC to OEMs. Some of the key industrial plugs and socket providers include ABB Ltd., Amphenol Corporation, Eaton Corporation, Legrand AG, Mennekes and many others. The retailers and authorized distributors of industrial plug and sockets offer and sale these equipment. The end users include industries such as chemical and pharmaceutical, heavy industry, oil & gas, power generation, and automotive that use the industrial plugs and socket.
Some of the major key players operating in the India industrial plugs and sockets market include ABB Ltd, Amphenol Corporation, BCH Electric Limited, Eaton Corporation plc, General Industrial Controls Private Limited (GIC), Legrand SA, MENNEKES, SCAME PARRE S.p.A., Schneider Electric, Super Engineering Works. Several other players such as Bharti Enterprise, Padam Electricals Limited, ICI ELECTRONICS, Sunil Electric Company, A Bond Strands, WEL LITE ELECTRICALS & ELECTRONICS PRIVATE LIMITED, Salzer Electronics Limited, Jai Balaji Control Gears PVT.LTD, Shree Light, C&S Electric Limited, Apex Electricals, Octatech Electricals, and Elcom International Pvt. Ltd. are also functioning in the Indian market, contributing significant revenue shares year on year. The major players operating in the India industrial plugs and sockets market are focused on key business strategies such as product launches, cost effectiveness, product differentiation, market expansion, and research & development activities to increase the local presence and consumer base in India. For instance, in May 2018, ABB had introduced a new IVIE modular light switch range, which offered a flexible and future-proof solution for residential, commercial, and hotel sectors to support the ‘Make in India’ initiative. The double shrouded internal mechanism under the rocker prevents visibility of sparks, and it is available with a wide variety of sockets, equipped with shutters for added safety.
The overall India industrial plug and socket market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the India industrial plug and socket market with regards to all the segments. Also, primary interviews were conducted with industry participants and commentators to validate dataas well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the India industrial plug and socket market.