Cable Glands Market was valued at US$ 1.93 Bn. in 2021, it is expected to grow at a CAGR of 6.2% for the period 2022-2029.
Cable Glands Market Overview:
The market research study Cable Glands examines and evaluates the market’s position during the predicted period. It is a thorough investigation that focuses on fundamental and secondary drivers, market dominance, key segments, and geographical analysis. The research also looks at key individuals, large collaborations, mergers, and acquisitions, as well as contemporary innovation and business strategy.
Market Scope:
We investigated the Cable Glands Market from every angle, including both primary and secondary research methods. This improved our grasp of current market dynamics such as supply-demand imbalances, pricing trends, product preferences, consumer behaviours, and so on. Following that, the data is collated and evaluated using a variety of market estimation and data validation approaches. In addition, we have an in-house data forecasting engine that predicts market growth until 2027.
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Several important elements that fueled the cable glands market’s growth and expansion were there. First off, the demand for cable glands was significantly influenced by the rising need for energy and the continued expansion of power generation facilities, both conventional and renewable. These glands are essential parts of electrical systems because they provide strong and secure connections for the transmission and distribution of power.
Restraints
In this Report we provide a concise introduction to the news or update being announced. Mention the significance of the development and its relevance to the company’s overall objectives and mission. offer background information or context to help readers understand the importance of the news. Provide a brief overview of the company’s history, achievements, and any relevant information that sets the stage for the announcement.
Segmentation
Cable Type
Armoured and unarmored products make up the sub-segments of the Cable Glands market. With a market share of 55% in 2021, the armoured sector dominated the entire world. These armoured glands are made for wire braid cables that are employed in risky work environments such as chemical plants, the oil and gas industry, wastewater treatment facilities, etc. The biggest supplier of armoured cable glands in India in 2020 is Rajendra Electrical, a company based in India. The absence of protection against mechanical damages, instability in dangerous areas, and only being applicable in fixed installations are the issues limiting the demand for unarmored cable glands. As a result, it is anticipated that the armoured cable gland market would expand at a CAGR of 3.2% over the forecast period.
End-Use
the Cable Glands market is sub-segmented into Construction, Manufacturing and Processing, Oil and Gas, Power and Utilities, and Aerospace. The Oil and Gas segment dominates the global market and was valued at US$ 112.3 Mn. in 2021. Oil and gas industries are increasingly using cabal glands due to their high thermal resistance, resistance to aggressive media, and reliability to explosion protection. In 2020, according to “BP Statistical Review of World Energy”, the United States took first place by refining capacity of 18567 barrels per day. Followed by China, Russia, and India. The power and utility segment took second place in the cable segment market. Increasing investments in the renewable energy sector like solar energy by the US, Europe, and China are expected to boost the global cable glands market.
1 Global Cable Glands Market, by Cable type (2021-2029)
• Armored
• Unarmored
2 Global Cable Glands Market, by End-user (2021-2029)
• Construction
• Manufacturing and Processing
• Oil and Gas
• Power and Utilities
• Aerospace.
Regional Insights
Key player
• Amphenol Corporation
• Bartec Group
• CMP Products Limited
• Eaton Group (Cooper Crouse-Hinds Electric Company)
• ABB Ltd
• Cortem SPA
• Emerson Industrial Automation
• Elsewedy Electric
• Hubbell Incorporated
• Jacob Gmbh
• R.Stahl Ag
• Quanguan Electric
• Warom Technology Incorporated
• TE Connectivity Ltd
• Flucon Components
• Geissel
• Gerich
• HUGRO Armaturen
• HUMMEL
• JAINSON
• Lapp
• Axis Communications
• BEISIT ELECTRIC
• bimed
• CCG Cable Terminations
Conclusion
The comprehensive analysis of the Cable Glands Market provides a clear and futuristic view of the industry to decision-makers. The report serves as a valuable guide for investors, offering insights into competitive analysis, market dynamics, market segments, and growth strategies of key players in the OLED market.
Key Questions Answered in the Cable Glands Market Report are:
- What are the most potential high-growth prospects in the worldwide Cable Glands industry, broken down by product category, End User, and Region?
- Which Cable Glands market categories will grow the most rapidly, and why?
- Which regions will grow faster, and why?
- What are the major factors impacting Cable Glands market dynamics? What are the Cable Glands market’s major drivers and challenges?
- What are the business risks and dangers in the Cable Glands market?
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