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Global Socket Converter Market – Introduction

  • Socket converters are used instead of extensions cords or when charger & power adapters do not fit into wall charging points. The design of wall charging points may differ because of which socket converters are preferred. These electrical accessories are safe to use as they are waterproof and can be used for multipurpose electrical appliances. Socket converters do not require any wiring from inside which makes them easier to use as compared to wall charging points which cannot work without proper wiring from inside. The plug designs may not support many new technologically advanced appliances, as a result of which socket converters have gained widespread interest globally.

Increasing usage of electronic devices in households driving demand

  • The usage of electrical devices & appliances has increased drastically. Devices such as mobile phones, and electrical appliances used in a kitchen such as microwave, grills, etc. need to be electrically powered or charged. Socket converters also support high voltage gadgets such as AC’s and provide adequate power. An electric socket converter fulfils the high demand when used excessively while surfing the internet & Wi-Fi enabled devices. A socket converter also changes the voltage of the household device which is fitted into it and helps in providing better charging & fitting of electrical devices into sockets.

Ease of use while travelling and safe

  • Electrical accessories such as socket converters can be used conveniently while travelling as they are small and can be carried easily. The growing trend of wireless charging has increased the usage of socket converters. These sockets provide electricity to the appliances in a secure and safe manner and prevents electricity leakage from the metal bodies, which eliminates the risk of electrocution. These factors are leading to greater adoption of socket converters in day-to-day use and their sales have increased considerably.

Asia Pacific considered the dominant region of the global socket converter market

  • In terms of region, the global socket converter market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • The socket converter market in North America is projected to expand at a significant pace during the forecast period due to high focus on safety & convenience, and easy portability.
  • Rise in usage of socket converters in household appliances, offices, etc. in countries such as the U.S., Canada, Mexico, U.K., Germany, and France is projected to surge the sales of socket converter in the near future.
  • Asia Pacific accounted for major share of the global socket converter market in 2020. The market in Asia Pacific is anticipated to expand at a significant growth rate during the forecast period due to rising urbanization, high net disposable income, and increase in construction of houses, etc. in India, China, Japan, and other countries in Southeast Asia. This is projected to surge the demand for socket converters in the Asia Pacific region.

Key Players Operating in the Socket Converter Market

Major players operating in the socket converter market are likely to face tough competition during the forecasted timeline. Companies such as Screwfix Direct Ltd., Toolstation Ltd., Yesss Electrical, and Schneider Electric are producing socket converters with innovative designs, shapes, proper fitting sizes, and which are safe to use. Companies are also undertaking mergers & acquisitions or signing agreements with regional distributors and dealers to expand their business in various parts of the globe. Some of the key players operating in the global socket converter market include:

  • Screwfix Direct Ltd  
  • Toolstation Ltd
  • Yesss Electrical
  • Schneider Electric
  • Xiaomi
  • Ramptel (Bull)
  • Huntkey (Huntkey Enterprise Group)
  • OPPLE
  • Elcom International Private Limited
  • Hangzhou Honyar Electrical

Global Socket Converter Market – Research Scope

Global Socket Converter Market, by type

  • Single Socket Converter
  • Double Socket Converter
  • 3 Gang Socket Converter
  • 4 Gang Socket Converter
  • Above 4 Gang Socket Converter

Global Socket Converter Market, by Material

  • Plastic
  • Rubber
  • Brass

Global Socket Converter Market, by End-use

  • Household
  • Office
  • Travel

Global Socket Converter Market, by Price Range

  • Low
  • Medium
  • High

Global Socket Converter Market, by Distribution Channel

  • Online
    • Company-owned  Websites
    • E-commerce Websites
  • Offline
    • Hypermarket/Supermarket
    • Specialty Stores
    • Others (Independent Retail Stores etc.)

Global Socket Converter Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Socket Converter Market

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