Global Home Electrical Consumables Market 2017-2021

Overview of the global home electrical consumables market

Market research analysts at Technavio predict that the global home electrical consumables market will grow steadily at a CAGR of around 7% by 2021. The rising usage of electronics in the residential sector is identified as one of the primary growth factors for this market. Consumer electronics such as refrigerators, air conditioners, and TVs is a prime requirement for all household. The increasing disposable income and the need to have a hassle-free life have led people to depend on the usage of electronic appliances. The growth of the developing markets along with the consolidation of the established markets has fostered the purchase of more consumer electronics. Moreover, there is an increase in the sales of desktop PCs, laptops, tablets, and TVs, along with household appliances such as refrigerators. This growth in the adoption of electrical and electronics will significantly increase the demand for home electrical supplies.

The emergence of home energy management system (HEMS) is one of the latest trends that will contribute to the growth of this market in the forthcoming years. HEMS is installed in residential buildings to keep a track of the electricity consumption patterns and power consumption data for individual appliances. These systems also perform pre-programmed functions such as maintaining the temperature of houses. In addition to providing data about loads generated by microgrids, HEMS also provides demand-response prompts from utility loads. The data generated is provided to users who can then view their energy consumption patterns and compare them with the previously generated data. Users can use this information to make necessary changes in consumption patterns to enhance the energy efficiency of their households.

Competitive landscape and key vendors  

The home electrical consumables market is characterized by the presence of numerous international vendors. The increasing need to save energy has given rise to the need for energy-efficient electrical consumables. As a result, few internationally renowned vendors have introduced products such as smart switches that help in monitoring and saving electricity.

The leading vendors in the market are -

• ABB
• Eaton
• Legrand
• Schneider Electric

The other prominent vendors in the market are Emerson, Havells India, Hengtong Electric, Koninklijke Philips, MENNEKES, Palazzoli Group, and SCAME PARRE.

Segmentation by product and analysis of the home electrical consumables market

• Plugs and sockets
• Extension cords

During 2016, the plugs and sockets segment accounted for the major shares of the home electrical supplies market. The availability of a wide range of electrical outlet plugs and their primary requirement in households will contribute to the growth of this industry segment in the coming years. Additionally, the rise in new construction activities in the developing nations will also drive the demand for plugs and sockets.

Geographical segmentation and analysis of the home electrical consumables market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the home electrical consumables market throughout the forecast period. The rise in construction activities due to the increasing urbanization and changing population demographics will drive the growth of home electrical supplies market in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global home electrical consumables market?
• What are the key market trends impacting the global home electrical consumables market?
• What are the challenges to market growth?
• Who are the key vendors in the global home electrical consumables market?
• What are the market opportunities and threats faced by the vendors in the global home electrical consumables market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global home electrical consumables market?

Technavio also offers customization on reports based on specific client requirement.

This upcoming market research report on the global home electrical consumables market is an important part of Technavio's heavy industry portfolio and presents insights into niche segments like the engineering tools sector. The report highlights the major business intelligence parameters such as the market size, growth rate, and competitive landscape.

To suitably estimate the growth of the global home electrical consumables market, the market research analysts at Technavio follow a thorough qualitative and quantitative research methodology and analyze the data gathered from various sources including industry experts, research journals, and manufacturers. Additionally, to offer clients insights into the competitive landscape, this market report on the home electrical consumables market also covers vendors such as Legrand, Emerson Electric, Schneider Electric, Eaton Corporation, ABBs, Palazzoli, Wenzhou Chmag Electrical, Mennekes Elektrotechnik, Scame Group, Amphenol, Havells, Anchor, and C&S Electric.

The upcoming research report on the global home electrical consumables market also considers the growth of similar markets such as the  HYPERLINK "/report/global-engineering-tools-global-surge-protection-devices-market-2017-2021" global surge protection devices market, which is expected to grow at a steady rate with a CAGR of 6% over the forecast period. The report also covers geographic regions like the Americas, APAC, and EMEA to provide more detailed information to the client on which market to focus their resources.

This upcoming market research report on the global home electrical consumables market also identifies the key influencers, the emerging trends, and the market challenges faced by the vendors in the engineering tools sector. The report also covers related sectors such as engineering tools and test and measurement.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.