India Industrial Plugs and Sockets Market
Rising Concern of Electrical Safety in Industrial Sector to Fuel India Industrial Plugs and Sockets Market Growth During Forecast Period
According to the National Electrical Code of India-2023, electrical accidents cause the death of thousands of people, and fire breaks destroy properties worth millions of dollars every year in developing countries. According to the same source, electrical short circuits cause 42% of building fires, and electrical causes account for ~5,000 fatalities annually. Most electrical accidents, including fire breaks, occur in low-voltage systems. Poor electrical installation design and quality, maintenance problems, workmanship flaws, and outdated installations are the primary causes of these accidents. The Bureau of Indian Standards (BIS), through its Electrical Installations Sectional Committee (ETD 20), governs the development of Indian Standards for safety and other matters related to the design, formation, and maintenance of electrical installations in accordance with safety standards and good engineering practices. The industrial landscape in India is experiencing transformative changes, particularly concerning safety standards and regulatory compliance, owing to the burgeoning awareness regarding electrical safety. Industries are focused on maintaining operational efficiency and worker safety within their premises. In addition, BIS also encourages the installation of robust tools and equipment that foster safety in the industrial setup. Industrial plugs and sockets are high-quality electrical components that are widely adopted to prevent accidents and create a safer working environment. Thus, the increasing concern regarding electrical safety in the industrial sector drives the India industrial plugs and sockets market.
India Industrial Plugs and Sockets Market: Industry Overview
The industrial plugs and socket market is segmented on the basis of protection type, type, end-user, and rating. Based on protection type, the market is segmented into dust proof, splash proof, waterproof, and others. Based on type, the market is segmented into plugs and sockets. Based on end users, the market is segmented into chemical and pharmaceutical, heavy industry, oil and gas, power generation, automotive, and others. Based on rating, the industrial plugs and socket market is segmented into 16 Amp, 32 Amp, 63 Amp, and 125 Amp.
According to the Ministry of Information & Broadcasting in October 2024, India and China, the two largest emerging economies, are at the forefront of global economic discussions. Moreover, as per the World Bank’s India Development Update, Indian GDP is expected to grow at 7% in the fiscal year 2024–2025, cementing its position as the world’s fastest-growing economy. The economic growth is driving the growth of industries such as chemicals, pharmaceuticals, heavy industry, automotive, oil & gas, and power generation. A few of the noteworthy developments that took place in India in recent years are mentioned below:
- In September 2023, ITC announced an investment of ~US$ 180 million (INR 15,000 million) in Madhya Pradesh to set up an integrated food manufacturing and logistics facility and a sustainable packaging product manufacturing facility at Sehore.
- In October 2023, Haldia Petrochemicals Ltd (HPL) announced an investment of ~US$ 360 million (INR 30,000 million) to set up new plants in West Bengal. It aims to build the first on-purpose propylene plant and a phenol unit at its existing manufacturing facility in Haldia. The projects are anticipated to be completed by the first quarter of 2026.
- In December 2023, Sumitomo Chemical, a Tokyo-based agrochemical manufacturer, announced its plan to develop its new agrochemical plant in western Gujarat. The construction is expected to be completed by 2027, with an initial investment expected to be over US$ 35 million.
Initiatives and incentives by Indian government and investment strategies by international businesses propel industrial growth in the country, generating the demand for the required electrical components, such as industrial plugs and sockets, for their efficient operations.
India Industrial Plugs and Sockets Market: Competitive Landscape and Key Developments
ABB Ltd., Amphenol Corporation, BCH Electric Limited, Eaton Corporation plc, General Industrial Controls Private Limited (GIC), Legrand SA, MENNEKES, SCAME PARRE S.p.A., Schneider Electric, and Super Engineering Works are among the leading players profiled in the India industrial plugs and sockets market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The India industrial plugs and sockets market report provides detailed market insights, which help the key players strategize their market growth. As per the company press releases, below are a few recent key developments:
- Schneider Electric announced the launch of the UNICA X range of slimline stainless-steel switches and sockets in the first of the series’ global rollouts at Festival Walk in Hong Kong. The UNICA X range of slimline stainless-steel switches and sockets combines premium quality and functionality. It is developed to fit seamlessly onto walls with an ultra-slim 6.5mm visible profile thickness – making it Schneider Electric’s slimmest product available to date. The aesthetically pleasing range is ideal for homebuilders, interior designers, and hoteliers wanting to complement stylish interiors.
(Source: Schneider Electric, Press Release, September 2024)
