Home Electrical Consumables

Global Home Electrical Consumables Market to Reach US$10.1 Billion by 2030

The global market for Home Electrical Consumables estimated at US$7.6 Billion in the year 2024, is expected to reach US$10.1 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2024-2030. Plugs & Sockets, one of the segments analyzed in the report, is expected to record a 5.0% CAGR and reach US$8.4 Billion by the end of the analysis period. Growth in the Extension Cords segment is estimated at 4.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.0 Billion While China is Forecast to Grow at 8.0% CAGR

The Home Electrical Consumables market in the U.S. is estimated at US$2.0 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.1 Billion by the year 2030 trailing a CAGR of 8.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.8% and 5.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR.

Home Electrical Consumables - Key Trends and Drivers

Home electrical consumables encompass a wide range of products essential for the maintenance, repair, and enhancement of residential electrical systems. These include items such as light bulbs, batteries, fuses, switches, sockets, extension cords, and wiring accessories. These products are integral to ensuring the safe and efficient operation of household electrical appliances and systems. Light bulbs, for instance, have evolved significantly, with energy-efficient LED options becoming the standard choice for most households due to their longevity and reduced power consumption. Similarly, modern switches and sockets come with enhanced safety features and aesthetic designs that complement contemporary home interiors. The diversity and availability of these consumables make them indispensable for both routine home maintenance and DIY projects.

Technological advancements have significantly influenced the home electrical consumables market, leading to the development of smarter, more efficient, and safer products. Smart home technologies, which integrate devices via the Internet of Things (IoT), have driven the demand for advanced electrical consumables. Smart plugs, switches, and bulbs that can be controlled remotely via smartphones or voice assistants are becoming increasingly popular. Additionally, the shift towards renewable energy sources has spurred the adoption of solar-powered batteries and energy-efficient lighting solutions. Enhanced safety standards and regulations have also resulted in the production of higher-quality electrical consumables that offer better protection against electrical hazards, such as surge protectors and circuit breakers with advanced trip mechanisms. These innovations are not only improving the functionality and efficiency of household electrical systems but also contributing to overall home safety.

The growth in the home electrical consumables market is driven by several factors, including rising consumer awareness about energy efficiency, the increasing adoption of smart home technologies, and continuous advancements in electrical safety standards. As consumers become more conscious of their energy consumption and its impact on both the environment and their utility bills, there is a growing preference for energy-efficient products like LED bulbs and smart plugs. The proliferation of smart home devices that offer convenience and remote control capabilities is also fueling demand for compatible electrical consumables. Furthermore, stringent safety regulations and building codes are encouraging homeowners to upgrade their electrical systems with safer, more reliable components. Additionally, the trend towards home improvement and DIY projects, accelerated by increased time spent at home due to the COVID-19 pandemic, has further boosted the market. These factors, combined with ongoing technological innovations, are expected to drive significant growth in the home electrical consumables market in the coming years.

SCOPE OF STUDY:

The report analyzes the Home Electrical Consumables market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Product (Plugs & Sockets, Extension Cords)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 51 Featured) -

• ABB Ltd.
• Eaton Corporation Plc
• Emerson Electric Co.
• Foshan City Kingsun Electrical Co., Ltd
• Guangdong Futina Electrical Co., Ltd
• Hangzhou Hongshi Electrical co., Ltd
• Havells India Ltd.
• Koninklijke Philips NV
• Legrand Australia Pty., Ltd.
• Norisys Technology Private Limited
• Schneider Electric
• Wenzhou Anssin Electric Co., Ltd
• Wenzhou Korlen Electric Appliances Co.,Ltd.
• Wenzhou Lamnbro Electric Co.,Ltd.
• Wenzhou Walton Electrical Co., Ltd.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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