Global Wiring Device Manufacturing Market Segmentation, By Type (Receptacles, Wire Connectors, Metal Contacts, Light Dimmer, Lamp Holders, Electric Switches) Voltage (Low Voltage, Medium Voltage, High Voltage), Installation (Overhead, Underground), End use (Aerospace and Defense, Automotive, Building and Construction, Others) – Industry Trends and Forecast to 2031.
Wiring Device Manufacturing Market Analysis
Wiring devices have gained immense popularity across various sectors owing to the intelligent automation, data visualization, advanced analytics, and enhanced user experience. Innovations in the electronic systems industry is accelerating the use of these devices.
Wiring Device Manufacturing Market Size
Global wiring device manufacturing market size was valued at USD 7.67 billion in 2023 and is projected to reach USD 17.17 billion by 2031, with a CAGR of 10.6% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Wiring Device Manufacturing Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Key Market Players
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Panasonic Life Solutions India Pvt. Ltd. (India), Eaton (Ireland), Honeywell International Inc. (US), ABB (Sweden), Hubbell (US), Legrand North America, LLC (US), Leviton Manufacturing Co., Inc. (US), Orel Corporation (Sri Lanka), OSRAM GmbH (Germany), Schneider Electric (France), Simon Electric Pvt. Ltd. (India), Marinco Power Products (US), Molex (US), KEI Industries Limited (India), TE Connectivity (Switzerland), FURUKAWA ELECTRIC CO., LTD. (Japan), VIMAL SWITCHES (India), SMK Corporation (Japan), Incotex Electronics Group (Russia), and EMKA Beschlagteile GmbH & Co., KG (Germany), among others
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Market Opportunities
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Wiring Device Manufacturing Market Definition
Wiring device are the type of an electrical devices which is being used to offer points of connection for appliances, low voltage outlet. Wiring device consist of non-current carrying device as well as current carrying device. Wiring devices are also used to connect points of low voltage lightning control system, switches and electrical systems.
Wiring Device Manufacturing Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Rise in Real Estate
The rise in industries such as hotel, tourism and real estate acts as one of the major factors driving the growth of wiring device manufacturing market. The increased investment in current carrying wiring devices also has a positive impact on the market.
- High Consumption of Electric Switches
The increase in consumption of electric switches in corporates and houses accelerate the market growth. The rise in the incorporation of technology in the wiring field and growing use of light dimmers assist in the expansion of the market.
- Use of Tamper Resistant
The rise in the regulations for use of tamper resistant receptacles in the developed economies further influence the market. The increase in the use of electronic switches in construction and residential industry assist in the expansion of the market.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the wiring device manufacturing market.
Opportunities
Furthermore, increase in installation of computers in commercial spaces is expected to obstruct market growth. Also, adoption of personal computers (PCs) will further expand the market.
Restraints/Challenges
On the other hand, high risk of power failure due to variation in the voltage and increase in prices of raw materials are expected to obstruct market growth. Also, lack of technical skills is projected to challenge the wiring device manufacturing market in the forecast period of 2024-2031.
This wiring device manufacturing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on wiring device manufacturing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Wiring Device Manufacturing Market
The COVID-19 had a negative impact on wiring device manufacturing market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for wiring device manufacturing market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the wiring device manufacturing market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
Wiring Device Manufacturing Market Scope
The wiring device manufacturing market is segmented on the basis of type, voltage, installation and end use. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Receptacles
- Wire Connectors
- Metal Contacts
- Light Dimmer
- Lamp Holders
- Electric Switches
Voltage
- Low Voltage
- Medium Voltage
- High Voltage
Installation
- Overhead
- Underground
End use
- Aerospace and Defense
- Automotive
- Building and Construction
- Others
Wiring Device Manufacturing Regional Analysis
The wiring device manufacturing market is segmented on the basis of type, voltage, installation and end use. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
The countries covered in the wiring device manufacturing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the wiring device manufacturing market due to the increase in investment in the expanding transmission and distribution networks within the region.
Europe is expected to witness significant growth during the forecast period of 2024 to 2031 because of the growing renewable power resources within this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Wiring Device Manufacturing Market Share
The wiring device manufacturing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to wiring device manufacturing market.
Wiring Device Manufacturing Market Leaders Operating in the Market Are:
- Panasonic Life Solutions India Pvt. Ltd. (India)
- Eaton (Ireland)
- Honeywell International Inc. (US)
- ABB (Sweden)
- Hubbell (US)
- Legrand North America, LLC (US)
- Leviton Manufacturing Co., Inc. (US)
- Orel Corporation (Sri Lanka)
- OSRAM GmbH (Germany)
- Schneider Electric (France)
- Simon Electric Pvt. Ltd. (India)
- Marinco Power Products (US)
- Molex (US)
- KEI Industries Limited (India)
- TE Connectivity (Switzerland)
- FURUKAWA ELECTRIC CO., LTD. (Japan)
- VIMAL SWITCHES (India)
- SMK Corporation (Japan)
- Incotex Electronics Group (Russia)
- EMKA Beschlagteile GmbH & Co., KG (Germany)
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