PVC Power Cords & Extension Cords Market Size, Share, Growth, and Industry Analysis, By Type (16 gauge, 14 gauge, 12 gauge and Others), By Application (Household appliances, Computers and consumer electronics, Medical Devices and Others), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

PVC POWER CORDS & EXTENSION CORDS MARKET REPORT OVERVIEW

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global pvc power cords & extension cords market size was USD 7128.14 million in 2021 and market is projected to touch USD 9505.27 million by 2032 at CAGR 2.65% during the forecast period.

An appliance can be connected into an electrical outlet further away from the wall than the appliance's cable would permit by using a power extension cord. Using a power extension cable can help minimize trips over wires and lessen the deterioration of appliance cords. A flexible electrical power cable with a plug on one end and one or more sockets on the other is called a power extension cord size. The phrase "power extension cord" has been in use since 1925. The market is expected to rise as a result of growing consumer demand for home appliances and consumer electronics as well as increased knowledge of energy-saving techniques.

COVID-19 Impact: Pandemic Led Supply Chain Disruptions and Economic Downturn Tranquilized the Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Global supply chains have been disrupted by the epidemic, which has an impact on the availability and production of a variety of goods. PVC power and extension cable production and availability may be impacted by this. Consumer spending and company investments may be impacted by economic downturns and uncertainty. The total demand for electrical items may be impacted by industries and enterprises that have cut back on capital expenditures.

LATEST TRENDS

"Rising Awareness in Energy Conservation Measures to Advance Up the Market Share"

The goal of energy conservation is to use fewer energy services in order to minimize energy consumption. Either cutting back on services or employing energy more wisely will accomplish this. Reducing the requirement for primary energy is the major goal of energy conservation methods. There are several techniques to do this, including heat exchange and heat storage. When plugged in, a power extension cable doesn't use any electricity. The reason is that this type of equipment only transmits energy to whatever is hooked into it from the wall or another source.

PVC POWER CORDS & EXTENSION CORDS MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into 16 gauge, 14 gauge, 12 gauge and others.

16 Gauge: Light-duty applications with reduced power requirements are appropriate for 16-gauge wires. They are frequently utilized for lights, tiny appliances, and other low-power gadgets.

14 Gauge: Cords with a gauge of 14 are adaptable and have a moderate electrical load capacity. They are frequently utilized for gadgets that need a little bit more power, power tools, and medium-sized appliances. An extension cord for a space heater or power drill.

12 Gauge: Suitable for heavier-duty applications, 12-gauge cables are thicker and capable of handling larger power loads. Larger power tools, air compressors, and other high-power equipment are frequently utilized with them.

• By Application

Based on application the global market can be categorized into household appliances, computers and consumer electronics, medical devices and others.

Home equipment: Providing electricity for kitchen equipment including coffee makers, toasters, and blenders. tying in irons, vacuum cleaners, and other cleaning and laundry equipment. supplying electricity to tiny electronics and gadgets located in various locations of the house.

Linking desktop PCs, monitors, printers, and more accessories with consumer electronics. providing electricity for TVs, game consoles, and audio devices as well as other home entertainment systems. recharging cellphones, tablets, and computers.

Medical Devices: Supplies electricity for diagnostic devices like thermometers and blood pressure monitors. establishing a connection between patient monitoring equipment. supplying electricity for medical imaging devices.

DRIVING FACTORS

"Growing Popularity of Portable Electronic Devices to Step Up the Market Sales"

The market for power extension cords is being driven by the growing use of portable gadgets. Electronics that are portable are lightweight and have a more compact design. Being portable allows one to more easily maneuver around electrical equipment. The forthcoming generation of technologically advanced consumer electronics items, including smartphones, tablets, and smart television sets, as well as the wide range of electronic products available, are the main drivers of demand for these gadgets. Numerous enticing characteristics of portable electronics include their mobility, ease of use, accessibility, and integration of cloud-based services.

"Rising Research and Rapid Urbanization to Boom Up the Market Growth"

In order to make high-voltage transmission cables, major power extension cord producers are expanding their research and development expenditures. Partnerships and collaborations enable firms to increase their R&D efforts and bring innovative goods to market. The need for power extension cord innovations and research and development is growing, which might open up profitable chances for the worldwide industry in the next years. The world population is expanding at an accelerated rate, and the rise in urbanization and economic growth have raised the need for energy in recent years. By 2045, there will be six billion people living in cities worldwide, a 1.5-times increase in population.The need for power extension cords is being driven by the rising infrastructure and building and construction industries. The demand for these cords is particularly strong in the residential market, which has the potential to stimulate the worldwide market.

RESTRAINING FACTORS

"Increasing Modular Interior Designs to Restrain and Hold Back the Market Growth"

Globally, customers are becoming more interested in modular interior ideas these days. The building's wiring is designed within the wall itself in modular interior designs. The housing industry may require fewer extension cords as a result of improvements in building construction that enable outlets to be located where consumers want them and the growing inclination of consumers toward modular interior designs. However, it is anticipated that the installation of modular interior designs may restrict the worldwide PVC power cords & extension cords market growth.

PVC POWER CORDS & EXTENSION CORDS MARKET REGIONAL INSIGHTS

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"Asia Pacific to lead the Market owing to Increasing Demand for Technologically Advanced Products "

Due to rising demand for high-tech products, the Asia Pacific is predicted to develop at the highest rate among regional PVC power cords & extension cords market share. Over the course of the projection period, the expanding industrial sectors in China, India, Japan, and South Korea are anticipated to fuel product demand. Furthermore, during the next years, industry development is anticipated to be aided by growing levels of disposable income in developing nations like China and India. In 2019, Europe accounted for over 25% of worldwide sales due to a high level of consumer knowledge on safety precautions to take while utilizing power extension cords in the presence of voltage drop risk (VRR).

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Important market players are crucial for determining consumer preferences and market dynamics since they have a big impact on the market. Customers have easy access to a huge selection of garment options because to the large retail networks and online platforms of these large corporations. Product adoption has increased as a result of their well-known brand and strong worldwide presence, which have also boosted customer loyalty and confidence.

List of Market Players Profiled

• Tripp Lite (U.S.)
• Ching Cheng (China)
• Yunhuan Electronics (China)
• MEGA (France)
• Quail Electronics (U.S.)
• Stay Online (U.S.)
• Electri-Cord (China)
• Jintao Electron (China)
• Coleman Cable (U.S.)
• Chengglong Electric (China)
• Prime Wire & Cable (China)
• Yung-Li (China)
• Americord (U.S.)
• I-SHENG (China)
• Volex (U.K.)
• QueenPuo Electrical (China)
• Longwell (China)
• Kord King (U.S.)
• HL Technology Group (China)
• HuaSheng Electrical (China)
• Well Shin Technology (China)
• Hongchang Electronics (China).

INDUSTRIAL DEVELOPMENT

• April 2020: Executive Barrett Seid of Tripp Lite has purchased a whole 100% share in the business. Seid gave the business to the recently established Marble Freedom Trust, a charity. Leonard Leo, a prominent figure in the Federalist Society and the main driving force behind the effort to replace the current federal court in the United States with conservative justices, is the head of the Marble Freedom Trust.

REPORT COVERAGE

The report includes a thorough SWOT analysis and offers predictions for market growth in the future. It explores a broad range of market categories and possible applications that might have an impact on the market's trajectory in the upcoming years, as well as key aspects that contribute to the market's growth. The research provides a comprehensive overview of the market's components and identifies possible growth opportunities by taking into account both historical turning points and present trends.