The India industrial plugs and sockets market size is expected to reach US$ 269.57 million by 2031 from US$ 187.06 million in 2023. The market is estimated to record a CAGR of 4.7% from 2023 to 2031. Adoption of robotics and automation is likely to remain a key market trend in the coming years.
Flourishing oil & gas and construction sectors, rising concern of electrical safety in industrial sector, and surging special economic zones propel the India industrial plugs and sockets market. On the other hand, supply chain disruptions hinder the growth of the market. Further, progressive manufacturing sector and expanding EV charging infrastructure create an opportunity for the growth of the market. The adoption of robotics and automation is expected to bring significant growth trends in the market in the future.
Industrial plugs and sockets are being used across different industries to safeguard the equipment to which they are connected by securing electric connections. They are designed to deal with extreme temperatures and possible exposure to chemicals. These components are easy to install and usually manufactured with efficient and low-cost materials to enable resistance to chemicals, dust, and water, among others. The demand for these plugs and sockets is increasing in India with an upsurge in energy & power generation, construction, and electrical projects. Rising industrialization generates notable growth opportunities for companies in the international plugs and sockets market to expand their businesses in India. Industrial plugs and sockets feature excellent conductivity, large connection area, and compact design. Various types of these components are available on the market; these include surface mounting and panel mounting sockets, and multiphase plugs, among others.
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India Industrial Plugs and Sockets Market: Strategic Insights
The oil & gas sector, which is closely related to its energy demand, plays a significant role in boosting the Indian economy. According to the International Energy Agency (IEA), in February 2024, India became the third-largest consumer of oil in the world. The Government of India has adopted several policies to cater to the rise in the demand for oil and gas. 100% FDI provisions in various segments of this sector, including petroleum products, natural gas, and refineries, further favor its growth. In March 2022, the Board of Oil India approved an investment of INR 6,555 crore (US$ 839.49 million) for the Numaligarh petrochemical project. In March 2024, the Indian Prime Minister launched a series of oil and gas sector projects totaling ~US$ 19.27 billion (INR 1.62 lakh crore) across the country, including those from Bihar, Maharashtra, Karnataka, and Punjab. In the oil and gas industry, industrial plugs and sockets are employed to ensure the safe and efficient operations of a wide range of equipment, including drilling rigs and hydraulic systems, by offering reliable electrical connections.
According to the Construction Industry Development Council, the Indian construction industry provides employment to nearly 32 million candidates, and it is the second largest contributor to its national GDP after the agricultural sector. The construction industry in India is divided into two segments: real estate and urban development. The real estate segment includes residential spaces, offices, hotels, retail chains, and leisure park properties, among others. The urban development segment includes subsegments such as water supply, sanitation, urban transportation, schools, and healthcare. With the rising population and FDI inflow, the construction sector in India is continuously growing. Construction sites require an uninterrupted power supply for the functioning of heavy machinery such as excavators, cranes, and concrete mixers. Industrial plugs and sockets are required for the electrical connections of the tools and machinery. They also play a vital part in the continuous operations of site management systems. Thus, the flourishing oil and gas, and construction industries bolster the India industrial plugs and sockets market
According to the Indian Brand Equity Foundation (IBEF), India is the world's third most preferred destination for manufacturing plants, and it is likely to attain the capability of exporting US$ 1 trillion worth of goods by 2030. The country is implementing different programs and policies with an aim to raise the manufacturing sector's contribution to 25% of the economic output by 2025. The Make in India program and the Production-Linked Incentive (PLI) scheme, attracting foreign direct investments (FDIs) and enhancing industrial infrastructure, provide a boost to the growth of the manufacturing industry. A few of the developments in the manufacturing sector in India are mentioned below:
The manufacturing industries such as automotive, chemicals, and pharmaceuticals are receiving massive investments. Efforts being made to set up new manufacturing facilities or modernize the existing ones would generate the need for industrial plugs and sockets to enable electrical connections and minimize workplace-based accidents. Thus, the proliferating manufacturing sector presents numerous opportunities for the future growth of the India industrial plugs and sockets market.
Key segments that contributed to the derivation of the India industrial plugs and sockets market analysis are protection type, type, end user, and rating.
The regional trends and factors influencing the India Industrial Plugs and Sockets Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses India Industrial Plugs and Sockets Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 187.06 Million |
| Market Size by 2031 | US$ 269.57 Million |
| Global CAGR (2023 - 2031) | 4.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Protection Type
|
| Regions and Countries Covered | India
|
| Market leaders and key company profiles |
The India Industrial Plugs and Sockets Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the India Industrial Plugs and Sockets Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The India industrial plugs and sockets market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the India industrial plugs and sockets market are listed below:
(Source: Schneider Electric, Press Release, September 2024)
The "India Industrial Plugs and Sockets Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
The List of Companies - India Industrial Plugs and Sockets Market
The key players holding majority shares in the India industrial plugs and sockets market are ABB, Legrand, Schneider Electric, BCH Electric Limited, and MENNEKES.
The India industrial plugs and sockets marketis expected to reach US$ 269.57 million by 2031.
The incremental growth expected to be recorded for the India industrial plugs and sockets market during the forecast period is US$ 82.51 million.
The India industrial plugs and sockets market was estimated to be US$ 187.06 million in 2023 and is expected to grow at a CAGR of 4.7 % during the forecast period 2023 – 2031.
Adoption of robotics and automation is anticipated to play a significant role in the India industrial plugs and sockets market in the coming years.
Flourishing oil & gas and construction sectors; rising concern of electrical safety in industrial sector; and surging special economic zones are the major factors that propel the India industrial plugs and sockets market.