Eaton Corporation has announced its successful acquisition of a 49% stake in Jiangsu Ryan Electrical Co. Ltd. (Ryan), a manufacturer of power distribution and sub-transmission transformers in China. The acquisition is estimated to strengthen the distribution of solutions for the utilization of renewable energy and electrical content in a variety of applications.
Siemens Aktiengesellschaft is all set to acquire the EV division of Mumbai-based Mass-Tech Controls Private Limited which will help the company EV division of Mumbai-based Mass-Tech Controls Private Limited.
Author Credits: Abhishek Verma, Hetal Singh
Report ID: 5015
Published Date: Jun 14, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing installation of smart meters, growing awareness related to smart buildings, and rising energy price volatility are the major factors driving the market growth.
The market size of meter sockets is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Eaton Corporation, Siemens Aktiengesellschaft, Austin Energy, Lowe's Companies, Inc., Omaha Public Power District, Milbank Manufacturing Company, The Durham Company, Brooks Utility, Inc., Exelon Corporation, General Electric Company, and other key players.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, channel, application, and by region.
The residential segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The lack of skilled professionals for operating meter sockets along with the high cost of installation and rising safety concerns are estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.