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Current-Carrying Wiring Devices - Global Market Trajectory & Analytics

  • ID: 1382337
  • Report
  • April 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • ABB
  • Eaton Corporation PLC
  • Hubbell, Inc.
  • Legrand
  • Orel Corp.
  • OSRAM GmbH
  • MORE
Global Current-Carrying Wiring Devices Market to Reach $51.7 Billion by 2027

Amid the COVID-19 crisis, the global market for Current-Carrying Wiring Devices estimated at US$39.7 Billion in the year 2020, is projected to reach a revised size of US$51.7 Billion by 2027, growing at a CAGR of 3.8% over the analysis period 2020-2027. Electric Switches, one of the segments analyzed in the report, is projected to record a 4.4% CAGR and reach US$19.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Wire Connectors segment is readjusted to a revised 4.4% CAGR for the next 7-year period.



The U.S. Market is Estimated at $10.7 Billion, While China is Forecast to Grow at 7% CAGR

The Current-Carrying Wiring Devices market in the U.S. is estimated at US$10.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$11 Billion by the year 2027 trailing a CAGR of 7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.2% and 2.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2% CAGR.

Receptacles Segment to Record 4.4% CAGR

In the global Receptacles segment, USA, Canada, Japan, China and Europe will drive the 3.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.5 Billion in the year 2020 will reach a projected size of US$1.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$7.3 Billion by the year 2027, while Latin America will expand at a 5.3% CAGR through the analysis period.

Select Competitors (Total 137 Featured):
  • ABB
  • Anchor Electricals Pvt. Ltd.
  • Eaton Corporation PLC
  • Honeywell International, Inc.
  • Hubbell, Inc.
  • Legrand
  • Leviton Manufacturing Co., Inc.
  • Orel Corp.
  • OSRAM GmbH
  • Schneider Electric
  • Simon S.A.
  • SMK Corp.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB
  • Eaton Corporation PLC
  • Hubbell, Inc.
  • Legrand
  • Orel Corp.
  • OSRAM GmbH
  • MORE
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Wiring Devices Market - A Precursor
  • Recent Market Activity
  • Current-carrying Wiring Devices - A Prelude
  • Developing Nations to Turbo Charge Market Growth
  • Electrical Switch Market Exhibiting Electrifying Performance
  • Improving Economy Buoys General Market Optimism
  • Assessing the Impact of Recent Past Economic Upheavals on Global Current-Carrying Wiring Devices Market
  • Competitive Landscape
  • Hubbell, Eaton, ABB, Schneider and Legrand: Active Participants in the Global Market
  • Leading Vendors Sense Brewing Competition from Asian Manufacturers
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • ABB (Switzerland)
  • Anchor Electricals Pvt. Ltd. (India)
  • Eaton Corporation PLC (Ireland)
  • Honeywell International, Inc. (USA)
  • Hubbell, Inc. (USA)
  • Legrand (France)
  • Leviton Manufacturing Co., Inc. (USA)
  • Orel Corporation (Sri Lanka)
  • OSRAM GmbH (Germany)
  • Schneider Electric (France)
  • Simon S.A. (Spain)
  • SMK Corporation (Japan)
3. MARKET TRENDS & DRIVERS
  • Consumer Demand for Safe and Innovative Circuitry Unfurl New Product Innovations
  • Electrical Switches Move Beyond Functionality
  • Anti-Microbial Switches - An Emerging Segment
  • High Energy Costs and Regulations Drive Demand for Receptacle control and Energy Efficiency Products
  • Focus on Energy Conservation Drives Demand for Dimmer Switches
  • Smart Homes Up the Demand for Smart Switches
  • Smart Wi-Fi Switches and Plugs for Smarter Home Lighting
  • Smart Lighting Controls Drive Innovations in Sensor Switches
  • Select Innovative Smart Light Switches and Smart Plugs
  • Tamper-Resistant Receptacles Gain Traction
  • USB Receptacles Sense Potential Opportunities
  • Weather-Resistant Receptacles Make Progress
  • Innovations in the Lamp Holders Segment
  • Manufacturers Embrace Internet Medium
  • Challenges
  • Prevalence of Unorganized Players
  • Counterfeit Products
  • Government Regulations
  • Rising Electricity Demands, New Construction & Renovation Represent Fundamental Growth Drivers
  • Rapid Pace of Urbanization & Improving Construction Investments Accelerate Revenue Growth
  • Rising Commercial Real Estate Investments Extend New Opportunities
  • Proliferation of Consumer Electronic Devices to Drive Demand
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • UNITED STATES
  • CANADA
  • JAPAN
  • CHINA
  • EUROPE
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • AUSTRALIA
  • INDIA
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 137
Note: Product cover images may vary from those shown
  • ABB
  • Anchor Electricals Pvt. Ltd.
  • Eaton Corporation PLC
  • Honeywell International, Inc.
  • Hubbell, Inc.
  • Legrand
  • Leviton Manufacturing Co. Inc.
  • Orel Corp.
  • OSRAM GmbH
  • Schneider Electric
  • Simon S.A.
  • SMK Corp.
Note: Product cover images may vary from those shown
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