Meter Sockets Market Segmentation:
Product Type Segment Analysis
The portable segment in the meter sockets market is poised to grow at a significant rate and hold the largest value of 52% in 2035 with a notable CAGR value. The major factor for segment expansion is the rising benefits of portable meter sockets over fixed meter sockets. These are usually used in the high-tech industrial and commercial sector that requires constant monitoring of energy usage, voltage regulation, load currents, and other metrics. It is easy to use and easy to transport as per the requirement which is to propel segment size in the forecast period.
Application Segment Analysis
The residential segment is predicted to hold 34% share of the global meter sockets market by the end of the forecast timeline. The major factor that is estimated to favor segment growth is the increasing population across the world is demanding meter sockets for uninterrupted power supply and accurate measuring of power consumption for sustainable living. Furthermore, the rapid growth in the real estate sector and the development of various residential projects across various economies of the world are anticipated to increase the utilization rate of meter sockets in the residential sector.
Our in-depth analysis of the global market includes the following segments:
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