Socket converter is an electrical accessory, which is classified as a sub-segment of the electrical equipment industry. Socket converters are generally used when any power adapter of any electrical appliance is not fitting in a given wall socket or an extension cord. These power adapters usually do not fit due to discrepancies in sockets and plug designs across all regions. As a result, these socket converters are used to accommodate such electrical appliances.
3-pin sockets are used for class-III electrical appliances which includes ovens, refrigerators and AC\'s. These sockets allow electricity to the appliances in a secure and safe way and avoids electricity leakage from the metal bodies, which eliminates the risk of electrocution. According to this researhc and analysis, the 3-pin segment accounted for the major shares of this market during 2017.
This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market till 2023. The increasing disposable income of consumers in the region that will lead to the growth in demand for electronic devices will be a major factor augmenting the demand for socket converters in APAC.
The Socket Converters Market report analyses the impact of COVID-19 on this industry. COVID-19 can affect the global market in 3 ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on enterprises and financial markets.
The report offers detailed coverage of Socket Converters industry and main market trends. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Socket Converters by geography. The report splits the market size, by volume and value, on the basis of application type and geography.
The report forecast global Socket Converters market to grow to reach xxx Million USD in 2020 with a CAGR of xx% during the period 2021-2027.
First, this report covers the present status and the future prospects of the global Socket Converters market for 2015-2027.
Key Companies
BULL
Koninklijke Philips
Schneider Electric
Hangzhou Honyar Electrical
Huntkey Enterprise Group
Xiaomi
Socket Converters Market by Type
3-pin
2-pin
Other
Socket Converters Market by Application
Residential
Commercial
Industrial
Socket Converters Market by Region
United States
Europe
China
Japan
South Korea
Other Regions
Socket Converters Market Consumption by Region
North America
United States
Canada
Mexico
Asia-Pacific
China
India
Japan
South Korea
Australia
Indonesia
Malaysia
Philippines
Thailand
Vietnam
Europe
Germany
France
UK
Italy
Russia
Rest of Europe
Central & South America
Brazil
Rest of South America
Middle East & Africa
GCC Countries
Turkey
Egypt
South Africa
Rest of Middle East & Africa
At the same time, we classify Socket Converters according to the type, application by geography. More importantly, the report includes major countries market based on the type and application.
The report conveys the entirety of current realities about market definition, orders, applications, and commitment for the Socket Converters market that are basic to be victorious inside the market. The principle motivation behind this report is to give a development map with respect to the activities taken by central participants of the Socket Converters market like item dispatches, joint endeavors, propensities, consolidations, and acquisitions which is influencing the Socket Converters market undertaking in general and furthermore influencing the business, import, fare, income and CAGR values.
Regional Analysis
North America, Latin America, Asia-Pacific countries, Europe, India, China, and over twenty countries have been analyzed based on the different marketing elements such as manufacturing capacity, consumer base, productivity, and profit margin, and ease of business. It is observed that North America, in particular, will show impressive development during the estimated time frame in marketing development. Administration organizations and outsider managers are channelizing their efforts to make client-driven items that will add to the development of an efficient marketing scenario in these regions. As the significant parts of the market business would be all around the globe, Middle East, Africa, North America along with other Asia-Pacific nations shows a great prospect of developing a good market favorable environment.
The research provides answers to the following key questions:
• What is the estimated growth rate and market share and size of the Socket Converters market for the forecast period 2021 - 2027?
• What are the driving forces in the Socket Converters market for the forecast period 2021 - 2027?
• Who are the prominent market players and how have they gained a competitive edge over other competitors?
• What are the market trends influencing the progress of the Socket Converters industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the market hold for the prominent market players?
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