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Pin and Sleeve Device Market Size, Competitive Landscape, Worldwide Trends And Forecast To 2032
Pin and Sleeve Device Market Analysis
The Business Research Company's Pin And Sleeve Device Global Market Report 2023 identifies expansion of data centers as the major driver for the pin and sleeve device market's growth in the forecast period. A data center refers to a facility that unifies a company's shared IT infrastructure and operations for data processing and storage. Pin and sleeve devices play a significant role in data center hardware designs, especially in open-standard applications where everyone can easily understand the value of these components due to their capacity to optimize power usage, lower the cost of data center servers per rack, and lower the cost per server.
The global pin and sleeve device market is expected to grow from $69.81 billion in 2022 to $76.08 billion in 2023 at a compound annual growth rate (CAGR) of 9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pin and sleeve device market are expected to reach $102.94 billion in 2027 at a CAGR of 7.9%.
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Major competitors in the pin and sleeve device market are Schneider Electric SE, ABB Ltd., Eaton Corporation, Emerson Electric Co., Amphenol Corporation, Legrand Group, Molex LLC, Phoenix Contact.
A key trend in the pin and sleeve device market includes technological advancement. Major companies operating in the pin and sleeve device market are focusing on developing technological solutions to sustain their position in the market. For instance, in August 2020, Leviton Manufacturing Co. Inc., a US-based manufacturer of electrical wiring equipment, launched the LEV Series IEC 60309-1 and IEC 60309-2 pin and sleeve devices with the company's Inform technology. Their unique feature incorporates 30-amp and 60-amp plugs, connectors, receptacles, inlets, backboxes, and mechanical interlocks made in North America. They are intended to simplify installation, withstand the harshest environments, and increase safety and productivity. Customers in manufacturing, food and beverage processing, original equipment manufacturers (OEMs), temporary and portable power applications, mining, entertainment venues, and fast-food environments are the best fit for these devices.
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The pin and sleeve device market is segmented -
1) By Product: Plug, Connector, Receptacle, Inlet, Other Products
2) By Material: Metallic, Non-Metallic
3) By End Use: Residential, Commercial, Industrial
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the pin and sleeve device market.
The Business Research Company's "Global Pin And Sleeve Device Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Pin And Sleeve Device Market Include:
1. Executive Summary
2. Pin and Sleeve Device Market Characteristics
3. Pin and Sleeve Device Market Trends And Strategies
4. Pin and Sleeve Device Market - Macro Economic Scenario
…..
32. Global Pin and Sleeve Device Market Competitive Benchmarking
33. Global Pin and Sleeve Device Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Pin and Sleeve Device Market
35. Pin and Sleeve Device Market Future Outlook and Potential Analysis
36. Appendix
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