A waterproof sockets is a type of socket or switch that makes an electrical connection with supply wiring. Waterproof sockets are mainly design for outdoor purposes. The waterproof sockets provide safety from electric shocks, wet weather, and dust. The waterproof sockets divided into two categories plastic shell and metal shell waterproof socket. Some of the properties that have popularized waterproof sockets in the market include reliability, protectively, high-efficiency, and many others.
The companies involved in the manufacturing of waterproof sockets are now focusing on maximizing the cost-effectiveness and quality of the waterproof sockets, which will provide accurate results. This development is expected to help waterproof sockets to penetrate the industry and increase the waterproof sockets market size. The waterproof sockets find their applications in diverse sectors such as consumer electronics, automotive, and others.
The global waterproof sockets market is segmented on the basis of product, end use and region. Based on product, the market is divided into plastic shell, metal shell. In terms of end use, the market is categorized into residential, commercial, industrial. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
COVID-19 Scenario Analysis:
COVID-19 pandemic is a massive health emergency that has impacted almost all industries. The COVID-19 pandemic has forced all the governing bodies across the world to impose strict lockdown and restricts the travel for controlling the COVID-19 outbreak, which has negatively affected the growth of the business in the market.
In the last decade, the waterproof sockets market has been gathering huge traction across the globe because of its extensive use in automotive and electrical industries. However, the COVID-19 pandemic has caused significant barriers to the growth of the market. As the companies were instructed to continue their operations only with a limited workforce, the production rate of the waterproof sockets market, fell leading to the increase in price in the market, which can be proved with the help of an economic theory “price elasticity of supply”. This surge in price has lowered the growth of the waterproof sockets market in the market.
However, after the COVID-19 pandemic the waterproof sockets market is anticipated to regain its demand in the market because of its increase in diverse and innovative areas of application such as consumer electronics, automotive, and others.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The major factors that impact the growth of the waterproof sockets market include emerging demand for waterproof sockets in electronic products, provide path and safety for operating electrical equipment such as boiler, furnace, air-conditioning HVAC systems, and other electrical products.
In the non-oil sector, the companies are diversifying their investment by shifting toward the non-oil & gas sector from oil & gas sector. This shift toward non-oil & gas sector increases dependency on the waterproof sockets to
perform mechanical operations in various other industries such as automotive and electrical. Thus, this shift in the market is projected to drive the demand for waterproof sockets in the market. In building construction and development activities, the rise in the building construction increased the dependency on the electrical products, which ultimately increase the demand for the waterproof sockets in the market. The local manufacturer develops low-cost waterproof socket that are the copy of original one.
The Waterproof Sockets Market Trends are as Follows:
Extensive Use of Waterproof Sockets in the Non-Oil Sector:
In the non-oil sector, such as automotive industry and consumer electronics industries to drive other operation such as furnace, boiler, fans, and others. The waterproof socket used to provide safety from electric shock, wet weather, and from other accidents. Plastic shell waterproof sockets are mostly preferred in the electronics industries because it is cost effective, superior, and offers tested technology in providing safety from electric shocks and other accidents. All these factors tend to increase the demand for waterproof sockets in the market.
Wide-Scale Rise in Building Construction and Development Activities
The rise in building construction and development activities increases the dependency on the electrical products such as fan, boiler, air-conditioning HVACs, and other electrical appliances, which indirectly increased the need for switch and sockets to provide electrical connection with this appliance. Thus, need for switches and sockets in the rise in development activities and building construction fuel the growth in the waterproof sockets market forecast period.
Key Benefits of the Report:
- This study presents the analytical depiction of the market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the waterproof sockets market share.
- The current market is quantitatively analyzed to highlight the waterproof sockets market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed waterproof sockets market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Waterproof Sockets Market Research Report:
- What are the leading market players active in the waterproof sockets market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Waterproof Sockets Market Report Highlights
By End Use
Key Market Players
Simon, Kinsun, Schneider, Legrand, Siemens, ZZD, Ashley, Zhejiang KRIPAL Electric