Global cable glands market is anticipated to grow at a CAGR of 7.8% during the forecast period (2024-2031). A major factor supporting the growth of the market is the growing construction industry, especially in developing nations, which is one of the major factors driving the growth of cable glands globally. The growth rate in the construction sector is much higher in developing countries like the UAE, China, and India; hence, these regions offer more opportunities for the studied market to grow. For instance, the government of India's Budget 2021 proposed setting up a Development Financial Institution (DFI) called the National Bank for Financing Infrastructure and Development, which is expected to have a capital base of INR 200.0 billion ($2.7 billion) and a lending target of INR 5.0 trillion ($67.7 billion) in three years. This would enable FPIs to debt finance REITs, which would likely assist cash-stressed real estate sectors and result in increased construction activities.
Browse the full report description of “Cable Glands Market Size, Share & Trends Analysis Report by Material (Brass, Stainless Steel, and Plastic/Nylon). by Cable Type (Armored and Unarmored). by Type (Industrial and Hazardous). and by End-User (Oil and Gas, Mining, Aerospace and Defense, Manufacturing and Processing, and Chemical). Forecast Period (2024-2031).” at https://www.omrglobal.com/industry-reports/cable-glands-market
Moreover, BRICS nations have been witnessing an increase in construction activity, owing to increasing real estate investments post-recession, which are still going strong. Cable management systems such as cable glands are gaining popularity in the commercial sector, one of the widely growing construction industry segments, owing to increased demand for electric and network infrastructure. Thus, establishing new projects is expected to increase the need for cable glands.
Furthermore, the market for electronics has also been impacted by developing technical trends like artificial intelligence (AIAI) and the Internet of Things (IoT). This situation has made it easier for many companies and startups to explore new application areas. In May 2020, Wincomm launched a new cable gland with multiple I/O options and IP66/IP69K proofing for external input-output suites to address rapidly evolving industrial circumstances. The WTP-9E, WTP-8B, and WTP-8D series also comply with the CECE, FCC, VCCI, and class B regulations. Similarly, the growth of robotics in several industries results from the rising trend of digitalization and automation. According to the International Monetary Fund, Asia's investments in robotics and production automation are essential for the region's economies since more than half of the world's estimated inventory of industrial robots is currently in use.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Material
o By Cable Type
o By Type
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Amphenol Corp., BARTEC Top Holding GmbH, CMP Products Ltd., and Eaton Corp. plc, among others.
Key questions addressed by the report.
Global Cable Glands Market Report Segment
By Material
By Cable Type
By Type
By End-User
Global Cable Glands Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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