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Global Socket Converter Market 2017-2021

About Socket Converter

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. The demand for socket converters is influenced by factors such as increasing electronic devices in a household, rise in construction spending, and increasing disposable income of consumers. House prices witnessed rapid growth in many countries across the globe despite the fragile global economic situation.

Technavio’s analysts forecast the global socket converter market to grow at a CAGR of 6.50% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global socket converter market for 2017-2021. To calculate the market size, the report considers the sales of socket converters worldwide and excludes the sale of components involved and the service of socket converters.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Socket Converter Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • BULL
  • Koninklijke Philips
  • Schneider Electric
Other prominent vendors
  • Hangzhou Honyar Electrical
  • Huntkey Enterprise Group
  • Xiaomi
Market driver
  • Increasing electronic devices per household
  • For a full, detailed list, view our report
Market challenge
  • Growing traction of wireless charging
  • For a full, detailed list, view our report
Market trend
  • Increasing electrification through hybrid decentralized power systems
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Socket Converter Market 2017-2021

Technavio recognizes the following companies as the key players in the global socket converter market: BULL, Koninklijke Philips, and Schneider Electric.

Other Prominent Vendors in the market are: Hangzhou Honyar Electrical, Huntkey Enterprise Group, and Xiaomi.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing electrification through hybrid decentralized power systems. Electricity consumption is related to the economic development of a country. Though it is a complex relationship, electricity is a pre-requisite for economic growth, which includes infrastructure and social development.”

According to the report, one of the major drivers for this market is Increasing electronic devices per household. Consumer electronics such as refrigerators, air conditioners, TVs, and portable electronic devices are increasing in households worldwide. Increasing levels of disposable income and an urge to have a hassle-free life have led people to adapt to the usage of these electronic appliances.

Further, the report states that one of the major factors hindering the growth of this market is Growing traction of wireless charging. Wireless chargers are devices that allow a rechargeable device to get charged without connecting any wires between the device and the power source. Wireless chargers are a part of a wireless charging system. Wireless charging system contains two major parts, a transmitter and a receiver. The receiver is attached to the device that has to be charged, and the transmitter is part of the wireless charger connected to the main supply or power source.

Companies Mentioned

BULL, Koninklijke Philips, Schneider Electric, Hangzhou Honyar Electrical, Huntkey Enterprise Group, and Xiaomi.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table Percentage of countries with different voltage standards 2016
      • Table Plug types for different countries
  • Market landscape
    • Market overview
      • Table Global socket converter market overview
    • Market size and forecast
      • Table Global socket converter market 2016-2021 ($ millions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by product
    • Table Segmentation of global socket converter market by product type 2016
    • Table Segmentation of global socket converter market by product 2016-2021 (% share)
    • Table Segmentation of global socket converter market by product 2016-2021 ($ millions)
    • 3-pin
      • Table Global 3-pin socket converter market 2016-2021 ($ millions)
    • 2-pin
      • Table Global 2-pin socket converter market 2016-2021 ($ millions)
  • Geographical segmentation
    • Table Geographical segmentation of global socket converter market 2016
    • Table Geographical segmentation of socket converter market 2016-2021 (% share)
    • Table Geographical segmentation of socket converter market 2016-2021 ($ millions)
    • APAC
      • Table Socket converter market in APAC 2016-2021 ($ millions)
      • Table Bank of Indonesia rate, inflation, and GDP growth 2008-2016
    • EMEA
      • Table Socket converter market in EMEA 2016-2021 ($ millions)
      • Table Building permits issued index in EU 2007-2016 (permits)
    • Americas
      • Table Socket converter market in Americas 2016-2021 ($ millions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table GDP per capita for selected countries 2005 and 2015 ($ trillions)
      • Table Different type of plugs and their description
    • Market challenges
      • Table Regulations related to high and low voltage cables
  • Market trends
    • Increasing electrification through hybrid decentralized power systems
      • Table Global electrification rate
    • Growing demand for smart homes and development of smart cities
      • Table Global smart home market 2016-2021 ($ billions)
      • Table Smart home penetration regional share 2016-2021 (%)
    • Technological innovations
  • Vendor landscape
    • Competitive scenario
    • Key vendors
      • Table Schneider Electric: Product portfolio
    • Other prominent vendors
      • Table Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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