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

Explosion Proof Cable Glands Market by Type and Cable Type, Material, and by End User: Global Opportunity Analysis and Industry Forecast, 20182024", The global explosion proof cable glands market 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.

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.

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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.

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.

With rise in production of diesel, gasoline, and jet fuel, developments in heavy refinery projects such as installation of regasification plants, increase in conversion capacity, and upgradation in refining, there is a requirement for installation of explosion proof cable glands, which boosts the demand for explosion-proof cable during the forecast period.

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The government of various countries across the globe have made it mandatory for the industries working in a hazardous environment to follow proper safety measures for the operations to run smoothly. Safety equipment such as explosion-proof cable glands provide protection from the uncertain and hazardous environments such as dust and explosive gases. Thus, the government plays an important role to fuel the demand for explosion proof cable glands.

The raw materials used to develop explosion-proof cable glands include brass, steel, plastic, and others. The unstable prices of these essential ingredients have affected the global market. This is responsible for the growth of the Explosion-proof Cable Glands Market in the future.

Key Benefits

• The report includes in-depth analysis of different segments and provides market estimations between 2018 and 2024.
• Porters Five Forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
• The key market players are profiled to understand the strategies adopted by them.
• This report provides a detailed analysis of the current trends and future estimations from 2018 to 2024, which helps identify the prevailing market opportunities.

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.

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