Global Cable Glands Market worth US$ 1.5 Billion 2019 with a CAGR of 6.90%
The report " Global Cable Glands Market, By Type (Non-Hazardous Area Cable Glands and Hazardous Area Cable Glands), By Cable Type (Armored Cable Glands and Unarmored Cables), By Material Used (Brass, Aluminium, Plastic, Stainless Steel, and Other Material Types), By Industrial Vertical (Aerospace, Construction, Manufacturing and Processing, Oil and Gas, Power and Utilities, and Other End-user Industries (Marine, Mining, Chemicals)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030. Rise in energy demand levels across the globe coupled with an increase in population, and growth in real estates are expected to drive the growth of the cable glands market over the forecast period. Also, factors such as upgrade and renewal of existing networks, owing to surge in the construction cable type along with the rise in government regulations, among developing countries, globally, is boosting the growth of the target market. Nevertheless, continuous demand for energy and power in the developing and developed countries create a major opportunity for the target market expansion. Some of the emerging regions, such as Bulgaria, Romania, Laos, and other regions, needs investment to grow their industrial sectors. Financing in such developing regions can help in the development of the respective country’s economy. Thus, the investments made in such untapped regions for the growth in their economic sectors are projected to create lucrative growth opportunities for the global market over the forecast period.
In February 2019, Klein Tools acquired the Alco brands and Wattmaster, based in Australia. Alco was the first in the market to deliver metal cable glands manufactured in Australia, to meet Australian and international standards.
In November 2018, Amphenol Corporation proclaimed that it entered into a definitive agreement to acquire SSI Controls Technologies ("SSI"), the sensor manufacturing division of SSI Technologies Inc., for almost US$ 400 million-plus a performance-related contingent payment. The deal is focused on certain regulatory approvals and also other customary closing conditions.
Key Market Insights from the report:
The global cable glands market accounted for US$ 1.5 billion in 2019 and is projected to register a moderate CAGR over the forecast period. The market report has been segmented based on type, cable type, the material used, industrial vertical, and region.
By type, the global cable glands market is segmented into non-hazardous area cable glands and hazardous area cable glands.
By cable type, the armored cable gland segment is expected to dominate the target market over the forecast period. Cable glands for armored cables comprise single outer seal. They are being highly used for cables without an inner covering or bedding under the armor. While, cable glands having a double, inner & outer seal configuration which are favoured for cables with an inner covering or bedding under the armor.
By material used, the brass cable gland segment accounts for the major share in the global market. Cable glands made up of nickel-plated brass are used generally in the petrochemical and oil & gas industries. Since they provide superior protection against corrosion and contamination in hostile environments.
By end-user vertical, the oil & gas segment accounts for the foremost share in the global cable glands market. Numerous types of cable connectors are applied in the oil & gas industry.
By region, North America is anticipated to hold a major share in the global cable glands market. The U.S. is the largest market for cable glands and it is projected to continue its dominance over the forecast period.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Cable Glands Market”, By Type (Non-Hazardous Area Cable Glands and Hazardous Area Cable Glands), By Cable Type (Armored Cable Glands and Unarmored Cables), By Material Used (Brass, Aluminium, Plastic, Stainless Steel, and Other Material Types), By Industrial Vertical (Aerospace, Construction, Manufacturing and Processing, Oil and Gas, Power and Utilities, and Other End-user Industries (Marine, Mining, Chemicals)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030
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