Global Lugs Market Growth 2023-2029

Global Lugs Market Growth 2023-2029

Lugs are Handles or connectors used for connecting cables to electrical appliances, other cables, surfaces, or mechanisms. One end of a cable lug is typically used for connecting a cable, which could be soldered, welded, or crimped depending on the type. The connection end of the lug is then fastened to a matching terminal or connection point by means of a bolt, screw, or spring clip.

LPI (LP Information)' newest research report, the “Lugs Industry Forecast” looks at past sales and reviews total world Lugs sales in 2022, providing a comprehensive analysis by region and market sector of projected Lugs sales for 2023 through 2029. With Lugs sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Lugs industry.

This Insight Report provides a comprehensive analysis of the global Lugs landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Lugs portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Lugs market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Lugs and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Lugs.

The global Lugs market size is projected to grow from US$ 1140.6 million in 2022 to US$ 1261.8 million in 2029; it is expected to grow at a CAGR of 1261.8 from 2023 to 2029.

Global Lugs key players include Thomas & Betts, Schneider Electric, 3M, molex, PENTAIR, etc. Global top five manufacturers hold a share over 20%.

Europe is the largest market, with a share about 30%, followed by China, and North America, both have a share about 45 percent.

In terms of product, Crimping Type lugs is the largest segment, with a share over 75%. And in terms of application, the largest application is Electrical industrial, followed by Telecommunications, Automotive, etc.

This report presents a comprehensive overview, market shares, and growth opportunities of Lugs market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Fastener Type

Crimping Type

Other

Segmentation by application

Electrical Industrial

Telecommunications

Automotive

Other

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

ABB

Schneider Electric

3M

molex

PENTAIR

Panduit

Cembre

ILSCO

Burndy

ASK POWER

Klauke

Taixing Longyi

Romac

NSi

Penn-Union

CABAC

NARVA

SJ

Key Questions Addressed in this Report

What is the 10-year outlook for the global Lugs market?

What factors are driving Lugs market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Lugs market opportunities vary by end market size?

How does Lugs break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.