DUBLIN–(BUSINESS WIRE)–The “Indonesia Wiring Devices Market Outlook (2021-2027): Market Forecast?By Types (Switches, Sockets, Wire Connectors & Others), By Verticals (Residential, Commercial, Industrial & Public And Transport Infrastructure) And Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.
The report thoroughly covers the Indonesia wiring devices market by types, and verticals. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities / high growth areas, market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Indonesia Wiring Devices Market Synopsis
Indonesia wiring device market has been growing at a moderate rate over the past few years owing to growing economic activities across the country. However, Indonesia wiring devices market revenues declined in 2020 due to the COVID-19 pandemic, which caused a halt to economic and manufacturing activities across the country, disruptions in the supply chain and international trade.
The market is expected to recover sharply in the coming years owing to the lifting of lockdown restrictions and increasing budget allocation in the development of the country’s infrastructure by the government. The rising urban population and growing infrastructure of the country leads to higher usage of electronic products and hence acts as a major growth driver for the wiring devices market.
According to the publisher, Indonesia Wiring devices market size is projected to grow at CAGR of 11.6% during 2021-2027. In Indonesia, the wiring devices is anticipated to market experience rapidest growth in the forecast period. Growth in construction sector, increasing number of housing development projects and the rapid urbanization are also the major factors contributing to the growth of the wiring devices market.
In the coming years as the impact of covid 19 subsides and economic activities progress, the sales of wiring devices would increase. With different modern designs and innovations being introduced to the market by wiring devices manufacturers, the adoption of technology upgraded wiring devices is anticipated to rise in the upcoming years.
Market by Verticals Analysis
By Verticals, commercial sector is anticipated to experience rapid growth in the forecast period on account of government’s efforts to reduce restrictions in 11 key sectors, including capital investment, company licencing, corporate tax rates, and land acquisition, making it easier for firms to do business in the country thereby boosting the country’s commercial sector as well as wiring devices market.
Key Attractiveness of the Report
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Types
By Verticals
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/kpmlnf
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