According to TechSci Research report, “Global Cable Glands Market By Type, By Cable Type, By Material, By End User, By Region, Competition, Forecast & Opportunities, 2024”, the global cable glands market is expected to grow at a CAGR of around 7% during the forecast period. The cable glands are witnessing adoption owing to the growth in the construction industry. Cable glands are employed extensively in junction boxes, electric panels, and power connectors in buildings. Moreover, the increase in the new and up-gradation projects related to mining and oil & gas sectors in developing nations, and power transmission and generation in the developed nations is further driving the demand for cable glands. However, the volatile nature of raw material prices increases the cost of cable glands production, which is likely to hamper the global cable glands market during the forecast period. Additionally, the production process of cable gland takes skilled labor since a small mistake can lead to the complete wastage of raw material.
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The global cable glands market is segmented based on type, cable type, material, end user, region and company. Based on cable type, the market can be bifurcated into armored and unarmored. The armored segment is expected to dominate the market since armored cables contain single outer seal. Based on material, the market can be segmented into brass, stainless steel, plastic/nylon, aluminium and others. Brass is expected to register highest CAGR during forecast period as it provides superior protection against corrosion and contamination. Based on end user, the market can be categorized into oil & gas, mining, aerospace & defense, manufacturing & processing, chemical and others. The oil & gas segment holds a significant market share owing to the use of wide range of cable connectors in the industry.
Hubbell Incorporated, Emerson Electric Co., Amphenol Corporation, The 3M Company, Eaton Corporation Plc, ABB Ltd., Cortem SpA, CMP Products Limited, Bartec GmbH, Jacob GmbH and others are some of the leading players operating in global cable glands market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“North America is anticipated to dominate the cable glands market during the forecast period, owing to the increasing investment in eco-friendly resource consumption in the region. Moreover, the adoption of solar power has witnessed significant growth over the last few years across North America. Since solar applications demand cables with maximum reliability to prevent costly downtime and disruption to the energy grid, the demand for cable glands is expected to rise across the region during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Cable Glands Market By Type, By Cable Type, By Material, By End User, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global cable glands market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global cable glands market.
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