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Description
Industrial Hazardous Cable Glands Market size was valued at USD 2,102.7 million in 2021, growing at a significant CAGR of 6.1% over 2022–2028. The market for cable management systems is expanding, a significant factor boosting demand for cable glands. The need for effective cable management systems is growing along with the growth of the physical infrastructure. Additionally, as the telecom industry develops, cable glands are now becoming crucial to connecting the cables that transport data. An increase also aids the market’s expansion in construction activity on a global scale. Most rising nations are investing significantly in infrastructure expansion to improve economic circumstances. Thus, the building and remodeling public and private facilities have also fueled the need for cable glands by increasing the requirement for safe cable connections. Furthermore, the automobile market is expected to rise due to the increasing production of vehicles and the popularity of electric cars. Due to these considerations, the industrial and process sectors are also driving up demand for cable glands. The market under study has a tremendous possibility to expand due to the rising development of smart grids and the expanding oil and gas exploration. The ongoing demand for energy and power in industrialized and developing (or undeveloped) nations presents a sizable market development opportunity. Several developing countries, including Romania, Bulgaria, Laos, and others, need investment to expand their industrial sectors. The economic development of the concerned nation will be aided by financing in such developing regions. Investments in these underdeveloped areas to broaden their economic sectors will likely present profitable opportunities for the overall market. Within the next 20 years, this is estimated that the world’s energy consumption will rise by 48% due to the rapid increase in population. Currently, fossil fuels provide 80% of the world’s energy needs, but, in the not-too-distant future, this percentage will primarily shift to renewable sources. Manufacturing companies for cable glands will benefit significantly from this.
Recent Market Developments:
In February 2021, CMP Products Ltd has achieved approval to South African National Standard (SANS) 60079 for its range of hazardous area cable glands and accessories. The accreditation will boost the company’s growth across South Africa and the wider African continent, providing choice and access to products directly from Johannesburg.
In February 2020, Jacob GMBH introduced the new PERFECT AirVent cable gland that protects hermetically sealed electro-technical and electronic enclosures from condensation. It has a PTFE membrane that ensures continuous ventilation and adaptation of the inner pressure.
