Market Research Future (MRFR) has published a cooked research report on the “Child Safety Socket Market” that contains information from 2018 to 2032. The Child Safety Socket Market is estimated to register a CAGR of 6.20% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Child Safety Socket Market— Legrand, Schneider Electric, Siemens, Honeywell, Bull, Leviton, Chint Group, Panasonic, Philips, Feidiao, Simon, and ABB.
Child Safety Socket Market Highlights
The global Child Safety Socket Market is accounted to register a CAGR of 6.20% during the forecast period and is estimated to reach USD XX billion by 2032.
The market is experiencing several trends, including the incorporation of advanced technologies like tamper-resistant outlets and socket covers equipped with built-in sensors to enhance safety. Moreover, there is a growing prevalence of utilizing materials that are safe, non-toxic, and durable in the production of child safety sockets.
Segment Analysis
The global Child Safety Socket Market has been segmented based on the Type, and Application.
Based on the Type, the market is segmented into Single Plug Socket, Double Plug Socket, and Others. The Single Plug Socket segment was attributed to holding the largest market share in 2022. A single plug socket is a device featuring a solitary electrical outlet, commonly utilized in child safety sockets. Its primary purpose is to safeguard children from the risk of electric shock, potential electrocution, or accidents. This type of socket is offered with two distinct outlet configurations, namely 2-pronged and 3-pronged outlets.
Based on the Application, the Child Safety Socket Market has been segmented into Home Use, and Commercial Use. The Commercial Use segment was expected to hold the largest market share in 2022. In the commercial sector, child safety sockets play a crucial role in ensuring adherence to safety regulations, particularly in places like schools, nurseries, and daycare centers. This market contributes to safeguarding children in diverse environments from potential electrical hazards.
Regional Analysis
The global Child Safety Socket Market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The Europe Child Safety Socket Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Child Safety Socket Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Child Safety Socket Market comprises of Middle East, Africa, and Latin America.
The largest market share for the Child Safety Socket Market was maintained by the North American regional sector. The expansion of the Child Safety Socket Market in North America can be attributed to several factors fostering increased awareness and the adoption of child safety measures. The region has experienced a surge in the demand for child safety sockets, driven by a growing focus on childproofing residences and public spaces, including educational institutions and daycare centers. The market has exhibited significant growth in response to an increasing number of safety regulations and standards aimed at safeguarding children from electrical hazards. According to the Center for American Progress, a study of the 2018 landscape of licensed or registered childcare providers in the United States revealed that over half, approximately 51 percent, of the U.S. population lived in a childcare desert. This phenomenon disproportionately impacted low-income communities, Hispanic or Latino communities, and other communities of color.
Moreover, the Europe market has been persistently growing over the forecast period. Europe has experienced a rising number of electrocution and burn cases over the years. Consequently, the government is implementing various measures to prevent such incidents in both residential and public settings. The European Union (EU) has mandated that all electrical products, including sockets, must bear a CE mark before being allowed for sale within the region.
The Asia-Pacific region boasts a sizable and expanding population, marked by a significant presence of families and young children. Projections indicate that between the present moment and 2050, the number of individuals aged 60 years and older in this region will more than double, reaching a staggering 1.3 billion. This demographic shift suggests that by the middle of the century, one in four individuals will be aged 60 or older, a notable increase from the current ratio of one in ten. In 2022, the age distribution in India illustrates that approximately 25.31 percent of the population falls within the 0–14-year category, 67.8 percent in the 15-64 age group, and 6.9 percent are over 65 years old. With this expanding population, there is a growing demand for child safety products, including safety sockets, as a proactive measure to safeguard children from electrical hazards.
Furthermore, the rest of the world's Child Safety Socket Market is divided into the Middle East, Africa, and Latin America. The growth of the middle-class demographic in these regions is frequently coupled with an increase in disposable incomes. As households witness an enhancement in their economic standing, there is a greater inclination to allocate resources towards investing in safety products for their residences.
Key Findings of the Study
- The global Child Safety Socket Market is expected to reach USD XX billion by 2032, at a CAGR of 6.20% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to higher disposable income, rising urbanization, and heightened safety concerns driving the demand for child safety sockets.
- Based on Type, the Single Plug Socket segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.
- Legrand, Schneider Electric, Siemens, Honeywell, Bull, Leviton, Chint Group, Panasonic, Philips, Feidiao, Simon, and ABB
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Companies Covered | 15 |
Pages | 128 |
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