Cloud Banner

Press Release

Upsurge in Demand for Electricity is Expected to Drive the Growth of U.S. Meter Sockets Market

Meter sockets are essential components of an electrical system that provide a housing and connection point for electric utility meters. They serve as the interface between the incoming power supply from the utility company and the wiring within a building or property. These sockets are typically installed on the exterior of a building or in a meter box and are designed to securely hold the electric meter in place. They contain terminal connections where the utility company's wiring connects to the building's electrical system, allowing the meter to measure the amount of electricity consumed. Meter sockets come in various types and configurations to accommodate different metering setups and service requirements. They must adhere to specific electrical codes and standards to ensure safety, accuracy, and compatibility with the utility's equipment and the building's electrical system.

Access Full Report @ https://www.databridgemarketresearch.com/reports/us-meter-sockets-market

Data Bridge Market Research analyses that the U.S. Meter Sockets Market is expected to reach a value of USD 10,403.36 million by 2031, at a CAGR of 6.8% during the forecast period. The U.S. meter sockets market report also comprehensively covers pricing analysis, patent analysis, and technological advancements.

Key Findings of the Study

U.S. Meter Sockets Market

  • Growing Upgradation of Aging Infrastructure in the U.S.

The escalating initiatives to upgrade the aging infrastructure in the United States are emerging as a pivotal driver for the U.S. meter sockets market. The U.S. undertakes comprehensive modernization projects to enhance the resilience and efficiency of its electrical grid, there is a consequential surge in demand for advanced metering solutions. The need to replace outdated infrastructure presents a lucrative opportunity for the meter sockets market, with utilities and stakeholders seeking innovative and technologically advanced solutions to complement the revitalization of the country's electrical systems. This trend underscores the strategic importance of meter sockets in facilitating the seamless integration of modern metering technologies into the upgraded infrastructure, positioning the market for substantial growth and market expansion.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Million

Segments Covered

Product Type (Self-Contained Meter Socket (200A, 320A), Meter Main with Load Centre/Disconnect, Transformer-Rated Meter Socket, Transocket, Meter Pedestals, Side-Bussed/Side Wire Way Meter Sockets, Lever Bypass Socket (200A, 320A), and Multi-Position Meter Sockets), Phase (Single Phase and Three Phase), Distribution Channel (Indirect and Direct), Mounting (Flush, Surface, and Semi-Flush), Number of Jaws (4 Jaws, 5 Jaws, 6 Jaws,7 Jaws, 8 Jaws, and Others), Rating (100-200 Amp, 200-400 Amp, Above 400 Amp, and Up to 100 Amp), Material (Metal, Composite, and Plastic), Application (Residential, Commercial, Industrial, Public Area, and  Others)

Country  Covered

U.S.

Market Players Covered

Eaton (U.S), Schneider Electric (France), ABB (Switzerland), Siemens (Germany), Milbank Manufacturing Company (U.S), The Durham Company (U.S), Brooks Utility, Inc. (U.S), and Leviton Manufacturing Co., Inc. (U.S)., and among others

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Segment Analysis

U.S. meter sockets market is segmented into eight notable segments based on product type, phase, distribution channel, mounting, number of jaws, rating, material, and application.

  • On the basis of product type, the market is segmented into self-contained meter socket (200A, 320A), meter main with load center/disconnect, transformer-rated meter socket, transocket, meter pedestals, side-bussed/side wireway meter sockets, lever bypass socket (200A, 320A), and multi-position meter sockets

In 2024, the self-contained meter socket (200A, 320A) segment is expected to dominate the U.S. meter sockets market  

In 2024, the self-contained meter socket (200A, 320A) segment is expected to dominate the market with a 32.74% share due to their simplicity, cost-effectiveness, and ease of installation, offering a convenient all-in-one solution for electrical metering.

  • On the basis of phase, the market is segmented into single phase and three phase

In 2024, the single phase segment  is expected to dominate the U.S. meter sockets market  

In 2024, the single phase is expected to dominate the market with a 56.11% share due to its widespread use in residential settings where the majority of electricity consumption occurs on a single-phase basis.

  • On the basis of distribution channel, the market is segmented into indirect and direct. In 2024, the indirect segment is expected to dominate the market with a 61.01% share
  • On the basis of mounting, the market is segmented into flush, surface, and semi-flush. In 2024, the Flush segment is expected to dominate the market with a 57.28% share
  • On the basis of number of jaws, the market is segmented into 4 jaws, 5 jaws, 6 jaws, 7 jaws, 8 jaws, and others. In 2024, the 4 Jaws segment is expected to dominate the market with a 36.27% share
  • On the basis of rating, the market is segmented into 100-200 amp, 200-400 amp, above 400 amp, and up to 100 amp. In 2024, the 100-200 amp segment is expected to dominate the market with a 43.07% share
  • On the basis of material, the market is segmented into metal, composite, and plastic. In 2024, the metal segment is expected to dominate the market with a 55.43% share  
  • On the basis of application, the market is segmented into residential, commercial, industrial, public area, and others. In 2024, the residential segment is expected to dominate the market with a 42.66% share

Major Players

Data Bridge Market Research analyzes Eaton (U.S), Schneider Electric (France), ABB (Switzerland), Siemens (Germany), Milbank Manufacturing Company (U.S), as the major companies in the U.S. meter sockets market.

U.S. Meter Sockets Market

Market Development

  • In November 2023, Schneider Electric and Compass Datacenters announced a substantial expansion of their partnership through a 3 billion multi-year agreement. This collaboration signifies a significant step towards enhancing the efficiency and capabilities of data centers, supporting the growing demand for robust digital infrastructure. This partnership reflects a shared commitment to innovation and sustainability, highlighting the companies' dedication
  • In June 2022, Siemens acquired a minority stake in Volkswagen's U.S. electric-vehicle charging subsidiary, Electrify America, injecting $450 million into the venture and valuing the charging network at USD 2.45 billion
  • In August 2023, Siemens won the 2023 Tech Cares Award from TrustRadius for the second consecutive year, recognizing its commitment to corporate social responsibility. The award underscores Siemens' impact in areas such as environmental sustainability, workplace culture, diversity, equity, inclusion programs, charitable donations, fundraising, and volunteerism, emphasizing the company's dedication to making a positive difference in 2023
  • In January 2018, Brooks Utility, Inc. launched an upgraded Safety Meter Socket with additional safety features that help in minimize the risk of meter service professionals' exposure to electrical hazards and arc-related incidents. This product benefits the company to compete with the competition in the market
  • In October 2023, Leviton Manufacturing Co., Inc., was awarded by the National Electrical Contractors Association (NECA) Showstopper Award during the NECA Convention & Trade Show. This benefits the company by boosting its image in the market  

For more detailed information about the U.S. meter sockets market report, click here – https://www.databridgemarketresearch.com/reports/us-meter-sockets-market


Client Testimonials