Press release
Explosion Proof Cable Glands Market Expected to Reach $269.4 Million by 2024 | The key players in the global market are CMP Products Limited, Bartec Feam, Elsewedy Electric, Weidmller Interface GmbH & Co., Jacob GmbH, Hummel AG.
According to a new report by Allied Market Research, titled, Global 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.
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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.
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 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.
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Explosion-proof Cable Glands Market Key Segments:
By Type
• Increased Safety
• Flameproof
• EMC
• Others
By Cable type
• Armored
• Unarmored
By Material
• Brass
• Steel
• Plastic/Nylon
• Others
By End user
• Oil & Gas
• Mining
• Chemical
• Manufacturing & Processing
• Others
About Allied Market Research
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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