Cable Glands Market 2021 Development, Overview And Latest Future Trends, Forecast 2025

Allied Market Research published a new report, titled, "Cable Glands Market" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Government initiatives supporting regional connectivity and increase in automation sector fuel the growth of the global cable glands market. On the other hand, volatile nature of raw material prices checks the growth to some extent. Nevertheless, investment in emerging markets and rise in number of data centers are expected to create a number of opportunities for the key players in the industry.

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Based on material, the brass segment held the major share, contributing for nearly three-fifths of the total share in 2017. This segment is expected to maintain its dominating position throughout the forecast period. This is due to its wide application in petrochemical and oil & gas industries for its superior protection against corrosion and contamination. On the other hand, the plastic/nylon segment would grow at the highest CAGR of 6.8% from 2018 to 2025, owing to growth in outdoor usage for its light weight and less expensive nature and excellent resistance to moisture and corrosion.

On the basis of end user, the oil & gas segment accounted for nearly one-third of the total market share in 2017 and will maintain its lead throughout the forecast period. This is due to utilization for heavy refinery developments such as intricate refining upgradation, surge in conversion capacity, complex residue hydrocracking construction, and development of regasification plants.

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Based on geography, North America contributed to nearly one-third of the total market share in 2017 and is predicted to rule the roost till 2025. This is due to increase in demand for technologically advanced equipment in the region. Simultaneously, the Asia-Pacific region would grow at the fastest CAGR of 7.0% throughout 2018–2025. The fact that the region is rich in mines, refineries, and chemicals has augmented the adoption of industrial equipment such as cable glands in the province.

The key market players analyzed in the report include Emerson Electric Co., 3M Inc., Konica Minolta, ROQ International, Kornit Digital, Mimaki, Eaton Corporation PLC, Jacob GmbH, CMP Products Limited, ABB Ltd., Cortem Group, Bartec Group, and Amphenol Corporation. Incorporating several high-end strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others, these market players have become able to maintain their stand in the industry.

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