Global Power Extension Cord Market Set to Reach USD 6.64 Bn by 2031, With a Sustainable CAGR Of 6.5% | Growth Market Reports

PUNE, India, Feb. 9, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Power Extension Cord Market by Gauge Type (14 Gauge, 16 Gauge, 18 Gauge, and Others), Application (Concrete Building, Sewage, Road Construction, and Others), Distribution Channel (Online and Offline), and Regions: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 4.06 Bn 2022 and is expected to reach USD 6.64 Bn, expanding at a CAGR of 6.5% by the end of 2031. The market growth is attributed to the increasing usage of power extension cords in consumer electronics and home appliances.

Key Market Players Profiled in the Report

• Volex plc
• Longwell
• Southwire Company, LLC
• YFC-BONEAGLE ELECTRIC CO., LTD
• Gehr Industry Inc
• Yung Li Co., Ltd.
• Kord King
• Havells
• Ningbo
• Biaoda Electric Appliance Co., Ltd.

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include application, distribution channel, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

Highlights on the segments of the Power Extension Cord Market

Based on gauge type, the global power extension cord market is divided into 14 Gauge, 16 Gauge, 18 Gauge, and Others. The 14 Gauge segment is expected to gain a substantial market share during the forecast period. In commercial and industrial sectors, the use of 14 Gauge is rapidly increasing as it provides more durability which allows electricity to flow freely for longer distances.

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On the basis of application, the global market is segmented into household appliances, computers and consumer electronics, medical devices, and industrial/commercial. The household appliances segment is expected to expand significantly due to the growing demand for high-end products such as flat panel TVs, washing machines, and refrigerators in emerging economies.

Based on the distribution channel, the global power extension cord market is bifurcated into online and offline. The online segment is expected to expand at a significant rate due to the availability of favored brands, the newest trends, rare items at affordable prices, and additional discounts encouraging consumers to buy products using online distribution channels.

In terms of regions, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to gain a significant share during the forecast period as various emerging states in the region are investing in renewable energy technologies.

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Key Takeaways from the Study:

• Power extension cords are widely used in the commercial sector for various purposes including service businesses, such as shops and stores, hotels and motels, restaurants, and hospitals, as well as a wide range of facilities.
• Increasing demand for consumer electronics and home appliances as consumers are becoming more aware of the benefits of advanced technologies that can drive the global market.
• The use of power extension cords in portable electronics is rapidly increasing as portable electronic devices are getting rapid traction among consumers.
• Rising awareness among consumers regarding energy conservation measures can aid the usage of power extension cords across various sectors.
• Major manufacturers of power extension cords are increasing their Research & Development expenditure to produce high-voltage transmission power extension cords.
• The high internet penetration and proliferation of smart devices with advanced technologies like the internet of things and artificial intelligence are expected to create new growth avenues for consumer electronics and appliances in the forecast period.

Read 185 Pages Research Report with Detailed TOC on "Global Power Extension Cord Market by Gauge Type (14 Gauge, 16 Gauge, 18 Gauge, and Others), Application (Concrete Building, Sewage, Road Construction, and Others), Distribution Channel (Online and Offline), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

Gauge Type

• 14 Gauge
• 16 Gauge
• 18 Gauge
• Others

Application

• Household Appliances
• Computers and Consumer Electronics
• Medical Devices
• Industrial/Commercial

Distribution Channel

• Online
• Offline

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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