Transparency Market Research in its new report titled, “Cable Glands Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the cable glands market. The TMR report anticipates that the rise in the worldwide increase in construction activities will drive the cable glands market during the forecast period i.e, 2018-2026. According to the report, cable glands are employed extensively in junction boxes, electric panels, and power connectors in buildings. Hence, rise in the construction of new buildings is likely to boost the demand for cable glands during the forecast period. Fluctuations in raw material prices and high competition in the market are expected to affect profit margins of manufacturers in the near future. Manufacturers of cable glands are planning to extend their geographical reach in order to attract new consumers and decrease their dependency on third-party suppliers, says the report.
The report has segmented the cable gland market in terms of type, material, end-user industry, and geography. In terms of cable type, the cable glands market is classified into armored cable glands and unarmored cable glands. On the basis of material type, the market is divided into brass, aluminum, plastic, and stainless steel. Brass is the most widely used material for manufacture of cable glands, due to its essential properties which makes it suitable for use in the industrial environment. Aluminum and stainless steel are also being increasingly used in the production of cable glands. Aluminum is the abundant metal, while stainless steel offers several benefits such as temperature and pressure insulation. On the basis of end-user industry, the cable glands market is segmented into aerospace, construction, manufacturing, processing, oil & gas, and power & utilities. The large-scale upgrade and construction of oil refineries is driving the demand for cable management tools across the globe. Power & utilities has traditionally been a major end-user of cable glands market. The construction segment is expected to highest CAGR, followed by the aerospace segment, during the forecast period.
From a geographical perspective, the global cable glands market is classified into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific. North America is expected to dominate the global cable glands market during the forecast period, followed by Asia Pacific. Europe and North America collectively constitute more than 50% share of the total market. The markets in Middle East & Africa and Latin America are slated to witness significant growth during the forecast period. Numerous regional vendors of cable glands are offering modified solutions at prices lower than those in case of international vendors for expanding their presence in the global cable glands market. New vendors entering the cable glands market find it difficult to compete with international vendors on parameters such as features, functionalities, and material quality.
Some of the major players operating in the global cable glands market are 3M, ABB, Axis Communications, BARTEC, BEISIT, Bimed, CCG Cable Terminations, Dowell’s, Elsewedy Electric, Emerson, Ensto, Flucon Components, Geissel, Gerich, Hubbell, and HUGRO Armaturen.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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