Dublin, Oct. 05, 2022 (GLOBE NEWSWIRE) -- The "Singapore Wiring Devices Market Outlook (2021-2027): Market Forecast By Types (Sockets, Switches,Wire Connectors & Others (Wire Mesh, Plugs)) And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Singapore Wiring Devices Market revenue size is projected to grow at a CAGR of 4.0% during 2021-2027
The demand for wiring devices would increase in the coming years on account of growing government and private funding for robust infrastructure development including hospitals, commercial buildings, transpiration facilities and so on. Furthermore, gradually increasing adoption of innovation and technology advancement such floral print switches, Wi-Fi operated wiring devices would augment the demand for wiring devices over the coming years.
Singapore Wiring Devices Market report thoroughly covers market by end users. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Singapore Wiring Devices Market Synopsis
The wiring devices market in Singapore has the highest per capita revenue realization owing to high income levels and 100% urbanization rate. Further, Singapore is expected to have the highest penetration for higher value and technology enabled products, thus leading to constantly evolving market dynamics.
For a developed country like Singapore, the deployment of wiring devices is high as compared to other Southeast Asian countries, owing to higher penetration of electronic products and presence of a strong services and BFSI sector in the country.
Curtailment measures adopted by the government to stop the spread of Covid-19 in 2020, resulted in a drop in wiring devices market revenue as development of new infrastructure for commercial purposes and residential real-estate activity was subdued.
However, as lockdown restrictions were gradually lifted, demand for wiring devices began to pick up as economic activities in the country resumed, returning the Singapore wiring devices market to its pre-COVID growth trajectory.
Market by Types Analysis
By types, sockets segment had a major market revenue share owing to its multitude use in all application sectors.
Furthermore, the switches & socket s segment is expected to dominate the market during the forecasted period owing to higher penetration rate for high value and technology enabled products along with rising investments in commercial sector and transport infrastructure.
Key Highlights of the Report
- Singapore Wiring Devices Market Overview
- Singapore Wiring Devices Market Outlook
- Singapore Wiring Devices Market Forecast
- Historical Data and Forecast of Singapore Wiring Devices Market Revenues for the Period 2017-2027F
- Historical Data and Forecast of Singapore Wiring Devices Market Revenues, By Types, for the Period 2017-2027F
- Historical Data and Forecast of Singapore Wiring Devices Market Revenues, By Verticals, for the Period 2017-2027F
- Market Drivers and Restraints
- Industry Life Cycle
- Porter's Five Force Analysis
- Impact Analysis of COVID-19
- Market Trends
- Singapore Wiring Devices Market Revenue Share, By Companies
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Company Profiles
- MK Electric (Singapore) Pte Ltd
- Legrand Singapore
- Hager Electro Systems PTE. Ltd.
- Siemens Pte. Ltd.
- Schneider Electric Singapore Pte Ltd
- ABB Pte. Ltd.
- Caerus Electric Pte Ltd
- Fung Yip Electrical (S) Pte Ltd
- Schurter (S) Pte. Ltd.
- Panasonic Asia Pacific Pte Ltd.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
For more information about this report visit https://www.researchandmarkets.com/r/hgktvc
