Press release
Pin and Sleeve Device Market Set to Reach $121.37 Billion by 2029 with 8% Yearly Growth
Pin and Sleeve Device Market
The pin and sleeve device market is expected to experience significant growth due to the expanding number of data centers. The term "data center" refers to a facility that consolidates the shared IT infrastructure and operational processes of a company for data processing and storage. These pin and sleeve devices are integral to the design of data center hardware, particularly in open-standard applications where their value is immediately evident to all, as their capacity to optimize power usage lowers both the cost per rack of data center servers and the cost per server. For instance, as reported by the Campfil Group, a US-based air filtration enterprise, there were 2,751 data centers in the United States in January 2022. Furthermore, Germany is home to 484 data centers; the United Kingdom, 458 data centers; China, 447 data centers; and Canada, 324 data centers. Consequently, the growth of the pin-and-sleeve device market is being fuelled by the proliferation of data centers.
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What growth opportunities are expected to drive the pin and sleeve device market's CAGR through 2034?
The market for pin and sleeve devices has seen considerable expansion in the last few years, projected to rise from $82.06 billion in 2024 to $88.7 billion by 2025, corresponding to a compound annual growth rate (CAGR) of 8.1%. Historical growth of this market can be traced back to factors such as industrial development, rigorous safety guidelines, an upward trend in construction endeavors, a boost in power generation, an enhanced emphasis on worker efficiency, and the enlargement of data centers.
The market for pin and sleeve devices is set to witness considerable growth in the coming years, anticipating to reach a valuation of $121.37 billion by 2029, with a compound annual growth rate (CAGR) of 8.2%. Several factors driving this growth during the forecast period are the incorporation of renewable energy, enhanced focus on energy efficiency, rise in industrial automation, updates in safety standards, transport electrification, and growth of telecommunication networks. The projection period is also likely to see key trends such as advancements in connector technology, product innovations, increasing demand for materials resistant to corrosion, customisation and modularity, and the assimilation of intelligent technologies.
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What are the most significant trends transforming the pin and sleeve device market today?
Primary players in the pin-and-sleeve device market are introducing innovative products, including pin-and-sleeve connectors equipped with auxiliary contacts, to establish a competitive distinction. Auxiliary contacts in such electrical units refer to the auxiliary set of contacts that provide additional features by being used for tasks such as control signal distribution, interlocking, or monitoring beyond the primary switching function. For instance, the US-based electrical equipment producer, Hubbell Wiring Device-Kellems, launched the Advantage Series Pin and Sleeve connectors in May 2022, which boasts auxiliary contacts explicitly designed for control circuits. These connectors, which are rated as motor disconnects, enhance safety and have the capability to connect with Variable Frequency Drives (VFDs) and other auxiliary equipment. Boasting environmental ratings of UL Type 4X, 12, and IP69K, these connectors prove suitable for a range of industries such as food and beverage, water treatment, dairy, manufacturing, farming, and fast-food sector. Offered in 30A and 60A configurations, the auxiliary contacts can handle 3A at 120VAC or 24V DC, bringing versatility in control signal distribution. The design also incorporates an oversized ground contact, ensuring heightened safety and ease of operation across different industrial environments.
Which growth-oriented segments of the pin and sleeve device market are leading the industry's development?
The pin and sleeve device market covered in this report is segmented -
1) By Product: Plug, Connector, Receptacle, Inlet, Other Products
2) By Material: Metallic, Non-Metallic
3) By End Use: Residential, Commercial, Industrial
Subsegments:
1) By Plug: Watertight Plugs, Splashproof Plugs, Dusttight Plugs
2) By Connector: Watertight Connectors, Splashproof Connectors, Dusttight Connectors
3) By Receptacle: Watertight Receptacles, Splashproof Receptacles, Dusttight Receptacles
4) By Inlet: Watertight Inlets, Splashproof Inlets, Dusttight Inlets
5) By Other Products: Mechanical Interlocks, Adapters, Cable Glands
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What regions are leading the charge in the pin and sleeve device market?
North America was the largest region in the pin and sleeve device market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pin and sleeve device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the pin and sleeve device market?
Major companies operating in the pin and sleeve device market include Schneider Electric SE, ABB Ltd., Eaton Corporation, Emerson Electric Co., Amphenol Corporation, Legrand Group, Molex LLC, Phoenix Contact, Hubbell Incorporated, Lapp Group, Leviton Manufacturing Co. Inc., Wieland Electric GmbH, Gewiss S.p.A, R Stahl AG, Mennekes International, Steute Technologies GmbH & Co. KG, HUMMEL AG, Cortem Group, Woertz AG, Marechal Electric Group, CMP Products, WALTHER-WERKE Ferdinand Walther GmbH, Palazzoli S.p.A, IDE Electric S.L., Bals Elektrotechnik GmbH & Co KG, I.L.M.E. S.p.A., METZ CONNECT GmbH
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What Is Covered In The Pin and Sleeve Device Global Market Report?
• Market Size Forecast: Examine the pin and sleeve device market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the pin and sleeve device market for a structured understanding.
• Key Players Overview: Analyze major players in the pin and sleeve device market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the pin and sleeve device market.
• Segment Contributions: Evaluate how different segments drive overall growth in the pin and sleeve device market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the pin and sleeve device market.
• Industry Challenges: Identify potential risks and obstacles affecting the pin and sleeve device market.
• Competitive Landscape: Review strategic developments in the pin and sleeve device market, including expansions, agreements, and new product launches.
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