Cable Glands Market to Cross $2,841.9 million by 2025, At a CAGR of 6.1%
The North America region dominated the cable glands market and is projected to grow with a CAGR of nearly 6.1%, in terms of revenue, during the forecast period.
According to a new report published by Allied Market Research, titled,” Cable Glands Market by Type, Cable Type, Material, and End Users: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,“the global Cable Glands market generated revenue of $1,763.0 million in 2017 and is projected to reach $2,841.9 million by 2025, registering a CAGR of 6.1% from 2018 to 2025.
A Cable Glands, also known as a sealing gland or strain relief, allows the facilitation of barrier penetration while simultaneously offering sealing protection. It can be utilized with probes, wires, power, and signaling cables. It might be used on a wide range of electrical power, control, instrumentation, information, and broadcast communications links. Factors such as upgrade and renewal of existing networks, owing to government regulations, rise in the construction industry among developing countries, rise in energy demand levels globally coupled with the rise in population, and a surge in real estate’s boost the growth of the market soon.
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Based on type, the global Cable Glands market is segmented into industrial and hazardous. The industrial market is anticipated to have major share in the market. The rapid industrialization across the globe, especially in the Asia-Pacific region leads to set up of various industries such as automotive, steel, petrochemical, electronics, and aerospace & defense. This increases the demand for industrial grade Cable Glands for proper transmission of power, earthing, bonding, insulation, and cable guarding.
Based on cable type, the market is bifurcated into armored and unarmored. Based on material, it is classified into brass, nylon/plastic, stainless steel, and others. The brass Cable Glands segments holds the major share in the global Cable Glands market owing to its utilization in the petrochemical and oil & gas industries since it provides superior protection against contamination and corrosion in hostile environments.
By end user, the global Cable Glands market is segmented into oil & gas, mining, aerospace, manufacturing & processing, chemical, and others. The oil & gas segment holds the major share in the global Cable Glands market. Various types of cable connectors are utilized in the oil & gas industry. These include cold shrink cable terminations, which are used in onshore refineries as well as in harmful flammable conditions and resin Cable Glands that are used in situations where resistance to hydrocarbons is required. Further, the Cable Glands market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The brass Cable Glands segment was the leading revenue contributor to the global market. However, the plastic/nylon Cable Glands segment is expected to witness healthy growth rates during the forecast period.
The key players analyzed and profiled in this report are Hubbell Incorporated, Emerson Electric Co., Amphenol Corporation, 3M, Eaton Corporation PLC, ABB Ltd., Cortem Group, Bartec Group, CMP Products Limited, Jacob GMBH. Amphenol GEC, a division of Amphenol Corporation is offering new cable protection line of products that protects cable harnesses in virtually any environment. The new product line includes conduits, Cable Glands, tubing, and braided jackets.
Key Findings of the Cable Glands Market:
• The North America region dominated the market and is projected to grow with a CAGR of nearly 6.1%, in terms of revenue, during the forecast period.
• The Europe Cable Glands market is anticipated to witness moderate growth rate of 5.8%, in terms of revenue, during the forecast period.
• The Asia-Pacific Cable Glands market generated a revenue share of 29.99% in 2017.
Name: David Correa
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Organization: Allied Market Research
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