Indonesia Wiring Devices Market size is projected to grow at a CAGR of 11.6% during 2020-27F

Residential sector acquired the largest market revenue share among all verticals in the Indonesia wiring devices market in the year 2020 – 6Wresearch

Economic activity in Indonesia went through a major decline in 2020 on account of lockdowns and restrictions imposed in the country to curtail the spread of COVID-19, which resulted in supply chain disruptions and halted economic and construction activities. However, the decline is expected to be temporary, and the market is showing signs of a healthy recovery on account of upliftment of restrictions on economic activities. The Indonesia wiring devices market is expected to grow at a rapid rate in the coming years owing to rising public sector investments in development of the country’s infrastructure such as The Development of The One Million Houses Program by Ministry of Public Works and Public Housing and National Med-Term Development Plan (2020-2024).

According to 6Wresearch, Indonesia Wiring Devices Market size is projected to grow at a CAGR of 11.6% during 2020-27F. The wiring devices market in Indonesia grew at a moderate and stable rate over the past few years, barring 2020, a developing economy with significant FDI inflows and high population density and growth rate have been the major drivers driving the construction sector of the country, leading to increased demand for wiring devices. Additionally, the Government of Indonesia has plans to move its capital city from Jakarta to East Kalimantan by 2024, which would result in largescale development activities in the region, driving the demand for wiring devices in the forecast period.

 According to Ramit Behl, Research Analyst, 6Wresearch, by Verticals, commercial sector segment is anticipated to witness rapid growth among all the verticals on account of Indonesian omnibus bill which would boost the economy by enhancing competitiveness, creating jobs, and making it simpler to do business in Indonesia and it will 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.

According to Suryakant, Research Associate, 6Wresearch, by Types, sockets contributed a major chunk of revenues in Indonesia wiring devices market and a similar trend is expected to continue in the coming years owing to growing investment in commercial and residential sector. Further, rapid infrastructure development and increasing economic activities in the country are expected to result in the growth of wiring devices market across all types over the coming years.

The key players of the wiring devices market include PT Schneider Electric Indonesia, PT. Panasonic Gobel Indonesia, PT. Simon Elektrik Indonesia, P.T. Siemens Indonesia, PT ABB Sakti Industri, PT Legrand Indonesia, Eaton Indonesia, and PT. Hager Electro Indonesia.

Indonesia wiring devices market (2021-2027)” report provides an in-depth analysis with 22 figures and 02 tables, covered in 75 pages. The report estimates and forecast the overall Indonesia wiring devices market by types and verticals. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.