Plugs and sockets find extensive applications in homes, offices, factories, and data centers, supporting a wide range of appliances, office equipment, and electronic devices. Industrial-grade plugs and sockets are designed for heavy machinery, construction equipment, and power management in data centers. Specialized plugs and sockets, featuring water resistance, dustproofing, and explosion-proof capabilities, are crucial in high-risk environments like mining, offshore platforms, and petrochemical industries.
According to the publisher, the upstream industries for plugs and sockets primarily include suppliers of copper, plastic, rubber, and insulation materials. The downstream industries cover household appliance manufacturing, electronics, construction, industrial facilities, and power system maintenance. The production of plugs and sockets involves processes such as metal stamping, injection molding, and electroplating, requiring specialized equipment and technologies like precision molds, automated assembly lines, and testing systems. Ensuring compliance with international safety standards, such as IEC, is a vital part of the manufacturing process.
Global demand for plugs and sockets continues to grow, driven by the rise of smart homes and industrial automation, which fuel the need for high-performance power connectors. According to the publisher, leading global manufacturers include multinational companies such as Schneider Electric, ABB, and Legrand.
In Vietnam, the plug and socket market is expanding rapidly due to the swift growth of the electronics manufacturing sector and infrastructure development. However, Vietnam's local production capacity for plugs and sockets, particularly high-end products, remains limited due to insufficient technological expertise, resulting in significant reliance on imports.
The data shows that Vietnam's total plug and socket imports amounted to approximately USD 550 million in 2023. From January to August 2024, cumulative imports reached about USD 470 million, representing a year-on-year growth of around 28%. The Vietnamese market is rapidly expanding and is expected to maintain robust growth in the coming years.
Between 2021 and 2024, Vietnam's main sources of plug and socket imports were South Korea, China, and Hong Kong. Major exporters to Vietnam include companies such as LG Electronics Inc., Dream Tech Co., Ltd., and LS Mtron Ltd. On the importer side, key players are related to the machinery manufacturing and electronics industries, including companies like LGEVH, Dreamtech Vietnam Co., Ltd., and Hosiden Vietnam (Bac Giang) Co., Ltd.
Overall, with Vietnam's accelerating economic development and industrialization, the demand for plugs and sockets is poised to grow continuously. The publisher analyzes that Vietnam's domestic production capabilities for plugs and sockets are unlikely to expand significantly in the short term, meaning the country will remain heavily reliant on imports for the foreseeable future.
Topics covered:
- The Import and Export of Plugs and Sockets in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Plugs and Sockets in Vietnam (2021-2024)
- Total Import Value and Percentage Change of Plugs and Sockets in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Plugs and Sockets in Vietnam (2024)
- Total Import Value and Percentage Change of Plugs and Sockets in Vietnam (2024)
- Average Import Price of Plugs and Sockets in Vietnam (2021-2024)
- Top 10 Sources of Plugs and Sockets Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of Plugs and Sockets in Vietnam and Their Supply Volume
- Top 10 Importers of Plugs and Sockets in Vietnam and Their Import Volume
- How to Find Distributors and End Users of Plugs and Sockets in Vietnam
- How Foreign Enterprises Enter the Plugs and Sockets Market of Vietnam
- Forecast for the Import of Plugs and Sockets in Vietnam (2024-2033)
Table of Contents
Companies Mentioned
- LG ELECTRONICS INC.
- DREAM TECH CO. LTD.
- LS MTRON LTD
- LGEVH
- DREAMTECH VIETNAM CO. LTD.
- HOSIDEN VIETNAM (BAC GIANG) CO. LTD.
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | November 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 0.7 Billion |
| Forecasted Market Value ( USD | $ 1.13 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 6 |
