Press release
Pin and Sleeve Device Market Poised to Hit $117.76 Billion by 2029 with Accelerating Growth Trends
Pin and Sleeve Device
Pin and Sleeve Device Market Size Growth Forecast: What to Expect by 2025?
In recent times, the market size for pin and sleeve devices has seen robust growth. This market is projected to expand from a base value of $82.06 billion in 2024, reaching a valuation of $87.33 billion in 2025 with a projected compound annual growth rate (CAGR) of 6.4%. The observed growth in the historic period is attributed to a range of factors such as industrial expansion, strict safety standards, increased construction activities, rise in power production, an emphasis on workforce productivity, and the growth of data centers.
How Will the Pin and Sleeve Device Market Size Evolve and Grow by 2029?
The market for pin and sleeve devices is forecasted to experience notable expansion in the coming years, projected to reach a value of $117.76 billion by 2029, with a CAGR of 7.8%. The growth during the forecast period can be ascribed to factors such as integration of renewable energy, heightened interest in energy efficiency, increased industrial automation, updated safety standards, transportation electrification, and the broadening of telecommunication networks. The forecast period is also expected to witness significant trends including technological improvements in connector design, innovation in products, the quest for corrosion-resistant materials, customization and modularity, and integration of smart technologies.
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What Drivers Are Propelling the Growth of Pin and Sleeve Device Market Forward?
The pin and sleeve device market's growth is predicted to be spurred by the proliferation of data centers. The term "data center" describes a facility that consolidates an organization's collective IT infrastructure and operations for data processing and storage. These devices are critical components in data center hardware layouts, particularly in open-standard applications. Their worth is evident due to their ability to enhance power efficiency, reduce server costs per data center rack, and decrease individual server costs. For example, the Campfil Group, an American air filter firm, reported in January 2022 that the number of data centers in the United States had increased to 2,751 in 2022. Additionally, Germany houses 484 data centers, the UK 458, China 447, and Canada 324. Hence, the growth of the pin-and-sleeve device market is being propelled by the increasing number of data centers.
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Which Emerging Trends Are Transforming the Pin and Sleeve Device Market in 2025?
Principal firms in the pin-and-sleeve device market are innovating with new items like pin-and-sleeve connectors with additional elements for gaining a upper hand in the market. These auxiliary contacts are supplementary sets of connections in electrical switches or connectors that serve other purposes besides the main switching function. For example, Hubbell Wiring Device-Kellems, an American electrical equipment manufacturer, in May 2022, introduced their new Advantage Series Pin and Sleeve connectors with auxiliary contacts specially designed for control circuits. These connectors, categorized as motor disconnects, provide advanced safety and the capacity to interact with Variable Frequency Drives (VFDs) and other associated machinery. These connectors, with their UL Type 4X, 12, and IP69K environmental ratings, are suitable for several applications, including but not limited to, food and beverage, water treatment, dairy, manufacturing, farming, and fast-food industries. These auxiliary contacts are available in 30A and 60A configurations, with 3A ratings at 120VAC or 24V DC. This provides versatility in control signal distribution and their design includes an enlarged ground contact for improved safety and usage in various industrial circumstances.
What Are the Key Segments in the Pin and Sleeve Device Market?
The pin and sleeve devicemarket 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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Who Are the Key Players Shaping the Pin and Sleeve Device Market's Competitive Landscape?
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
What Geographic Markets Are Powering Growth 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.
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