The global wiring device market is expected to witness high growth during the forecast period owing to the growing demand for consumer electronic devices to drive demand and rising commercial real estate investments. A wiring device is an electrical device used to control and to provide connection points for low-voltage outlets, lighting systems, and appliances such as wall switches and receptacles. Moreover, to help protect sensitive equipment from malfunction owing to noise on the equipment grounding path and covers safety installation requirements wiring devices and accessories are used.This growth is primarily driven by Rapidly Growing Industrialization across the Globe and Growing Demand for Consumer Electronic Devices to Drive Demand.
Globally, a noticeable market trend is evident Rising Commercial Real Estate Investments. Major Players, such as ABB (Switzerland), Anchor Electricals Pvt. Ltd. (India), Eaton (Ireland), Cooper Industries (United States), Hubbell (United States), Legrand (France), Leviton Manufacturing (United States), Schneider Electric (France), Simon S.A. (Spain) and OSRAM GmbH (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
- Rapidly Growing Industrialization across the Globe
- Growing Demand for Consumer Electronic Devices to Drive Demand
- Rising Commercial Real Estate Investments
- Introduction of Unorganized Players
Increasing Demand from Developing Countries
Availability of Counterfeit Products
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