Explosion-proof Cable Glands Market by Type (Increased Safety, Flameproof, EMC, and Others), Cable Type (Armored and Unarmored), Material (Brass, Steel, Plastic/Nylon, and Others) and End User (Oil & Gas, Mining, Chemical, Manufacturing & Processing, and

A new report on “Global Explosion Proof Cable Glands Market by Type and Cable Type, Material, and by End User: Global Opportunity Analysis and Industry Forecast, 2018-2024,” states that the global explosion proof cable glands market generated a revenue of $174.9 million in 2017 and is likely to garner $269.4 million by 2024, growing at a CAGR of 6.4% from 2018 to 2024.

The explosion-proof cable glands market stands to benefit from factors such as the growing number of refineries, stringent government regulations of various countries regarding safety, and wide applications of explosion-proof cable glands in numerous sectors including oil & gas, mining, chemicals, manufacturing & processing, and others. However, the volatility of price of raw materials act as a hindrance to the market growth. On the other hand, rise in the installation of data centers presents lucrative opportunities for growth of the market.

Download PDF Report Sample @ https://www.alliedmarketresearch.com/request-sample/4635?utm_source=OPR

An explosion proof cable gland, also known as sealing gland or strain relief, facilitates barrier penetration and offers sealing protection. It can be used with probes, wires, power, and signaling cables.

The government is playing an important role in driving the now $174.9 Bn explosion proof cable glands market. Stringent government regulations across the globe have made it mandatory for the industries with hazardous environment to use safety equipment. For instance, in April 2016, Bureau of Safety and Environmental Enforcement, U.S. announced new safety rules to secure the safety requirements on underwater drilling equipment and well-controlled operations. The new safety rules, in particular, will tighten controls on industry-standard devices to prevent explosions in undersea oil & gas wells.

In 2017, the flameproof segment dominated the explosion proof cable gland market, in terms of revenue, due to increase in number of refineries.

Based on region, Asia Pacific was the highest revenue contributor to the market in 2017, accounting for around 33.0 %share, due to increase in installation of data centers.

Get Customized Report @ https://www.alliedmarketresearch.com/request-for-customization/4635?utm_source=OPR

The report features a competitive scenario of the explosion proof cable glands market and provides a comprehensive analysis of the key growth strategies adopted by the major players. The key players in the global market are CMP Products Limited, Bartec Feam, Elsewedy Electric, Weidmller Interface GmbH & Co., Jacob GmbH, Hummel AG, Eaton corporation plc. (Cooper Crouse-Hinds, LLC), Emerson Electric Co. (APPLETON GRP LLC), Amphenol Industrial Products Group, and Cortem Group.

These players have adopted various competitive strategies such as innovation, new product development, and market expansion to boost the growth of the market.

Key Findings of The Explosion Proof Cable Glands Market:

• The flameproof segment generated the highest revenue, accounting for $ 73.1 million in 2017.
• Unarmored cable type accounted for the highest CAGR of 7.5% from 2018 to 2024.
• Asia-Pacific is expected to dominate the market, in terms of market share, during the forecast period.

Analyst Review:

The cable gland also known as cable connector is a device designed to connect electrical devices, which provides support, sealing, retention, insulation, and earthing.

The global explosion proof cable glands was valued at $174.9 million in 2017, and is projected to reach $269.4 million by 2024, registering a CAGR of 6.4% from 2018 to 2024, due to the increase in number of refineries and stringent government regulation regarding safety.

Based on type, the explosion proof cable glands include increased safety, flameproof, EMC, and others. Flameproof contributed a significant revenue to the market, majorly from the U.S. By cable type, the armored segment is anticipated to witness the highest growth rate during the forecast period. Furthermore, based on region, Asia Pacific was the highest contributor, in terms of revenue, to the explosion proof cable glands market, in 2017.

The key market players have adopted various strategies, such as new product launch, business expansion, and strategic alliances to increase awareness about the explosion proof cable glands market across various countries.

Access Full Summery @ https://www.alliedmarketresearch.com/explosion-proof-cable-glands-market?utm_source=OPR

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1?855?550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.