Global Cable Glands Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028.
The Cable Glands refer to mechanical cable entry devices which are utilized in combination with cable and wiring in fitting application of electrical, instrumentation & control, and automation systems across telecom, power distribution, construction sector among others. Cable Gland act as a sealing and terminating device to ensure the protection of electrical equipment and enclosures. The rising expansion of construction activities worldwide and increasing utilization of cable glands across various end use industries as well as strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to Oxford Economics' Future of Construction Report 2021 - during 2020, Global construction output was estimated at USD 10.7 trillion, and the market is projected to grow by 42% or USD 4.5 trillion between 2020 and 2030 to grow to USD 15.2 trillion by 2030. Furthermore, leading market players are working towards new product launches to leverage the growing demand for Cable Glands. For instance, in October 2020, Denzlingen, Germany based electric component manufacturer HUMMEL AG launched new lead-free cable glands. The company also announced to launch lead free versions of its premium cable gland HSK-M in sizes M12 to M63. Also, growing investment towards robust network infrastructure coupled with rising industrialization in developing regions are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, volatile cost of associated raw materials impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Cable Glands Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing telecom and data center industry and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving industrialization and rising construction sector, would create lucrative growth prospects for the global Cable Glands Market across the Asia Pacific region.
Major market players included in this report are:
Cmp Products Limited
Eaton Corporation Plc
Emerson Electric Co.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Cable Type
By End User
Oil & Gas
Manufacturing & Processing
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Cable Glands Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers