North America Cable Glands Market to Witness Significant Growth During Forecast Period
Growth in the cable
management systems market to drive global cable glands market during forecast
period
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 construction industry. Cable glands are
employed extensively in junction boxes, electric panels, and power connectors
in buildings. Moreover, increase in the new and
upgradation 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, 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.
Browse market data Tables
and Figures spread through 110 Pages and an
in-depth TOC on " Global Cable Glands Market"
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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 forecast period, owing
to the increasing investment in eco-friendly resource consumption in the region.
Moreover,
the adoption of solar power has witnessed a 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 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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