Global METAL CABLE GLANDS Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global METAL CABLE GLANDS Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Metal Cable Glands can broadly be defined as mechanical fittings that form a part of electrical installation systems. They enable high levels of barrier protection and insulation. These systems are used in conjunction with power cables, wires, and probes. The primary purpose of these systems is to seal cables and maintain the ingress protection of enclosures.

Market Overview:

The latest research study on the global METAL CABLE GLANDS market finds that the global METAL CABLE GLANDS market reached a value of USD 1185.4 million in 2022. It’s expected that the market will achieve USD 1706.49 million by 2028, exhibiting a CAGR of 6.26% during the forecast period.

Development of the global electricity market

With the continuous development of the economy, the global electricity market is also growing year by year. According to World Energy Outlook 2022，global electricity demand rises by 5 900 terawatt-hours (TWh) in the Stated Policies Scenario (STEPS) and over 7 000 TWh in the Announced Pledges Scenario (APS) by 2030, equivalent to adding the current level of demand in the United States and the European Union. In advanced economies, transport is the largest contributor to increased electricity demand as the market share of electric cars rises from about 8% in 2021 to 32% in the STEPS and almost 50% in the APS by 2030. In emerging market and developing economies, population growth and rising demand for cooling contribute to increasing electricity demand. In China, air conditioner ownership expands by around 40% from current levels in the STEPS and APS by 2030. Electricity provides a rising share of total final energy consumption in all economies. Global electricity demand in 2050 is over 75% higher in the STEPS than it is today, 120% higher in the APS and 150% higher in the Net Zero Emissions by 2050 (NZE) Scenario. Electricity is transmitted and distributed through wires and cables, and the development of the electricity market will drive the Metal Cable Glands industry.

Development of the renewable energy market

With the rapid growth of renewable energy generation, grid stability becomes an important issue in countries with high levels of renewable energy integration in the grid, which requires the modernization of old transmission and distribution infrastructure. As renewable energy from sources such as solar and wind provide variable power output, traditional transmission and distribution systems may not be suitable for renewable energy transmission and distribution and require upgrades or retrofits. In addition, most utility-scale renewable energy generation facilities, such as solar and wind farms, are located far from population centers. As such, they need to be connected to demand centers through large transmission projects to use the electricity they generate. Such projects are expected to generate huge demand for Metal Cable Glands, driving the Metal Cable Glands market over the forecast period.

Region Overview:

In 2022, the share of the METAL CABLE GLANDS market in Asia Pacific stood at 43.18%.

Company Overview:

LAPP GROUP is one of the major players operating in the METAL CABLE GLANDS market, holding a share of 6.34% in 2023.

Segmentation Overview:

By type, Brass segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Machinery segment occupied the biggest share from 2018 to 2022.

Key Companies in the global METAL CABLE GLANDS market covered in Chapter 3:

Bimed
Moltec International
MISUMI USA
ABB
Electrical Connections Ltd
LAPP GROUP
YUEQING JIXIANG CONNECTOR
HUMMEL AG
Marechal Electric Group
SAB Cable
AGRO AG
HUGRO

In Chapter 4 and Chapter 14.2, on the basis of types, the METAL CABLE GLANDS market from 2018 to 2029 is primarily split into:

Brass
Stainless Steel

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the METAL CABLE GLANDS market from 2018 to 2029 covers:

Power
Communication
Machinery
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)